Brendan Burgess
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Limited role of courts in mortgage arrears cases clarified
The [broken link removed] has clarified the role of the courts in the administration of the Code of Conduct on Mortgage Arrears agreed between the main banks and the [broken link removed]. Five judges of the Supreme Court ruled yesterday that the courts could intervene if a lender did not adhere to the code’s moratorium on repossessions aimed at giving a “window of opportunity” to explore other solutions to borrowers’ mortgage arrears.
The court stressed “different considerations” apply to the other provisions of the code and the relevant legislation gave no role to the courts in determining whether particular proposals concerning mortgage arrears should be accepted.
The [broken link removed] has clarified the role of the courts in the administration of the Code of Conduct on Mortgage Arrears agreed between the main banks and the [broken link removed]. Five judges of the Supreme Court ruled yesterday that the courts could intervene if a lender did not adhere to the code’s moratorium on repossessions aimed at giving a “window of opportunity” to explore other solutions to borrowers’ mortgage arrears.
The court stressed “different considerations” apply to the other provisions of the code and the relevant legislation gave no role to the courts in determining whether particular proposals concerning mortgage arrears should be accepted.