Matt Carthy urges AIB to stop the sell-off of family mortgages to Vultures
Sinn Féin MEP, Matt Carthy, has urged AIB to find sustainable solutions in the interests of families, rather than sell their mortgages to vulture funds.
The Monaghan based MEP was speaking after it was confirmed that the majority State-owned AIB was preparing to sell off thousands of family home mortgages under so-called Project Birch.
Carthy has reiterated his support for Pearse Doherty’s ‘No Consent, No Sale Bill’ calling for the bill to be progressed immediately, as it would ensure banks could not sell mortgage loans without the consent of the borrower.
Matt carthy said:
“I want to join with those who are demanding that AIB to do the right thing and ensure that sustainable solutions are found for families rather than committing them to an uncertain future.
“AIB is a State-owned bank. It is therefore incumbent on its management to remember its past faults and ensure that it acts in the interests of consumers and those families that will be feeling unsure and worried with the prospect of their loans being sold to vulture funds.
“It is imperative that AIB seek sustainable solutions for these families, including the option of working with not-for-profit organisations who will act find sustainable outcomes for families rather than short-term profits for themselves.
“Vultures are never the solution. That is why it is so important that Pearse Doherty’s ‘No Consent, No Sale’ Bill, becomes law without delay as it will offer families protection in the face of uncertainty.
“Mortgage holders are not safe under the current rules. The Sinn Féin ‘No Consent, No Sale’ legislation must be progressed to protect consumers and families in the face of further sell-offs and a future of uncertainty. This legislation would ensure that banks cannot sell on loans without the consent of the borrower.
“Despite having previously received majority support in the Dáil, Fine Gael and Fianna Fáil have attempted to obstruct the passage of this Bill, thus enabling banks to continue large-scale sell-offs of properties.
“At this stage people should contact their local Fianna Fáil and Fine Gael TDs urging them to support Sinn Féin’s bill without excuses so that we can protect families and end the sell-off to the vultures”.