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Sinn Féin highlights mortgage worries

September 8th, 2018 2:02 PM

By Southern Star Team

Councillors Paul Hayes and Rachel McCarthy.

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MEMBERS of West Cork Sinn Fein have called on the management of Permanent TSB to stop their policy of selling mortgages to vulture funds, saying they’ve been contacted by people who are ‘worried sick’ about their futures. 

Gathering at the bridge in Bandon recently last with placards, they also highlighed the problem of child homelessness and the need for social housing.

Local Sinn Fein county councillors Rachel McCarthy and Paul Hayes were in attendance and addressed the gathering after the group walked from the bridge to the Permanent TSB building on South Main St, where a letter outlining the group’s opposition to the move was posted through the PTSB letterbox.

Cllr Paul Hayes said: ‘The decision by Permanent TSB, Ulster Bank and others to offload mortgages to unscrupulous vulture funds is a disgrace. Thousands of these loans are for family homes, where the owners have made a genuine attempt to negotiate an agreed payment plan with their banks, only to be left to the mercy of these vultures whose only interest is to make a quick buck, even if that means turfing families out on the street. It’s sickening to think that the PTSB, in particular, was bailed out by taxpayers’ money, yet there is no bailout or debt write-down for struggling families.’

He continued: ‘We will be continuing our series of protests across West Cork and asking the public to stand with us in solidarity with the families affected by this callous policy. Cork South West’s Oireachtas members need to stand up and be counted, too, as this is a huge concern for many families in West Cork, and many of whom have contacted me are sick with worry for the future of their home.’

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