Just a quick update in relation to my original posting.
I rang the AIB mortgage centre and told them I was enquiring about paying interest only on my mortgage for 12 months and what was the procedure in this regard. They told me to drop into any branch of AIB and request a STANDARD FINANCIAL STATEMENT FORM.
I did this the following day, this form is quite straightforward to fill out , basically looks for a breakdown of all your household monthly outgoings and income ( it did not require any back-up paperwork to accompany the application). The lady I spoke to in the bank said they were looking very favorably on these applications at the moment and that the process was straightforward enough and she couldn't foresee any problems.
True to her word, having returned the completed form to the local branch I received confirmation by post in about two weeks from AIB that the application was accepted and that I was now on interest only for 12 months.
It's a welcome bit of breathing space and as I said was very straightforward and hassle free in my case. Hope this is helpful.