vulture funds are they under FSO
- Thread starter Mortgage
- Start date
Legal loophole stopping vulture fund mortgage holders going to Ombudsman to close
The Central Bank admitted a “gap” existed which meant some homeowners whose loans are with vulture funds do not have the same rights and protections.
www.thejournal.ie
Some vulture funds not subject to Financial Ombudsman
https://www.independent.ie/business/personal-finance/central-bank-admits-vulture-fund-loophole-leaves-borrowers-outside-protections/a674896096.html Does anybody know which fund is the one in question ? Start have been in the country going back pre 2015 and have been registered with the Central...
www.askaboutmoney.com
Brendan Burgess
Founder
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In general, yes they are.
But it's complicated and there may be loopholes where the fund claims exemption.
So make your complaint, and the Ombudsman will decide if it's covered or not.
But given the nature of your complaint in the other thread, it should be a very clear legal issue and your solicitor should advise you accordingly.
If the VF sticks to its guns, then you are fairly stuck as it would take at least two years and probably longer for the courts or the Ombudsman to make a decision.
But it's complicated and there may be loopholes where the fund claims exemption.
So make your complaint, and the Ombudsman will decide if it's covered or not.
But given the nature of your complaint in the other thread, it should be a very clear legal issue and your solicitor should advise you accordingly.
If the VF sticks to its guns, then you are fairly stuck as it would take at least two years and probably longer for the courts or the Ombudsman to make a decision.