The U.S vulture fund ‘Cerberus’ looks set to acquire another €1.4 billion worth of loans after Ulster Bank announced its unloading 5,200 non-preforming mortgages, RTE has reported.
Ulster Bank has said that it will inform the mortgage holders whose loans are being sold to the vulture fund within 90 days of the sale. The mortgages of 2,300 private homes and over 2,900 buy to let properties are being sold, the Irish Examiner reported.
Ulster Bank has said that no mortgages that are being paid will be sold to the fund, which is named after the three headed dog that guarded the gates of the underworld in Greek mythology.
Share this story
Just click Like