Central Bank has a ‘conflict of interest’ protecting mortgage holders in arrears
Central Bank has a ‘conflict of interest’ protecting mortgage holders in arrears
The Central Bank has been accused of having a conflict of interest when it comes to protecting families that are being forced into mortgage arrears. Surging interest rates and cost-of-living pressures are pushing more mortgage holders into missing home-loan payments, the Central Bank said.
Experts said this is particularly the case for those trapped with vulture funds, where interest rates being charged are double those being imposed by banks, with families whose loans are owned by vultures unable to opt for fixed rates.
