Thursday February 20, 2020

Banks get the upper hand on mortgage arrears

The new Central Bank code of conduct governing how banks treat borrowers in arrears comes into force tomorrow, writes Emma Kennedy.

29th June, 2013
The Central Bank has put its faith in lenders to tackle the mortgage arrears crisis.

The Central Bank has put its faith in lenders to tackle the mortgage arrears crisis, with new rules for banks giving them more power to deal with struggling borrowers.

A revised code of conduct on mortgage arrears, which was published by the Central Bank last week and governs how lenders deal with borrowers in arrears, will shift the power balance in the mortgage market and place control firmly in the banks' hands. But the Central...

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