Vulture Switch

Are you caught with a high interest rate mortgage?
Then maybe we have solution for you.

Check out if one of the scenarios below might relate to you.

Scenario 1 – Your current arrears are caused by recent increase in interest rates.

•  Perhaps your mortgage was sold to a Distressed Securities Fund known as a Vulture Fund in the past.
•  Your existing mortgage has reached a point where your monthly payments are unaffordable and unsustainable due to increasing ECB rate hikes.

Scenario 2 – Historic Arrears

•  If you have arrears on your mortgage as a result of the impact of the recession on your earnings, for example, you may have lost your job or lost your business.
•  You have been unable to repay your mortgage and have run up arrears.
•  Your lender has sold your mortgage to a Distressed Securities Fund (DSF) or otherwise known as a Vulture Fund.Your interest rate is now higher.

You should consider switching your mortgage to Core Credit Union where you will have someone to talk to and work through your options.

Questions to ask yourself?

• Has your financial situation recovered?

• Are your household incomes reasonably good and can you show the ability to pay off your mortgage with Core Credit Union?

• Do you meet our standard lending requirements?

A full assessment will be carried out by your credit union factoring in your circumstances. Like all loans with your credit union we endeavour to find solutions for you if possible. 

For an appointment to speak to one of our Loan Officers please complete the contact form below or if you have any specific Mortgage query, please email or you can also call: 01 272 5600