Fianna Fáil says any new government must put further protections in place to protect tenants from vulture funds.

The party’s finance spokesman, Michael McGrath, says vulture funds initiate action for repossession or raise the interest rates that apply to loans without being subject to enough regulation.

It comes after 60 families at the Cruise Park estate in Tyrellstown, west Dublin, were sent eviction notices, and it is feared at least another 140 occupiers in the development may also be told to move out.

Deputy McGrath says the only solution is to introduce further regulations.

He said: “I believe strongly thsat the Oireachtas needs to step in, it needs to strengthen the protections that are there for tenants and for businesses aho have had their loans sold on from underneath their feet essentially.

“Further measures are urgently required now to be put in place.”