Critics say code of conduct favours banks over struggling homeowners

The Central Bank's revised Code of Conduct on Mortgage arrears has provoked anger - with critics saying it favours the banks over struggling homeowners.

The new code changes the rules on how banks deal with customers in arrears.

Banks will be able to force people off their cheap tracker mortgages - but only in very limited circumstances.

"With an uncooperative borrower the consequences are very serious," said David Hall of Irish Mortgage Holders Association.

"Seek advice early...there is no room for complacency now

"This is a full suite of armoury given to banks to tackle everybody in debt

"The sacred ground of tracker mortgages are back on the agenda, more than the trackers are on the table your home is on the table."