The decision to remove the Master of the High Court from cases involving debts has been questioned by mortgage relief campaigners.

The Central Bank can’t compel lenders to write down distressed mortgage debt rather than selling on the loans, but will continue to ensure all types of mortgage lenders follow the regulator’s code of conduct, governor Philip Lane has said.

A better deal could soon be on the horizon for struggling mortgage-holders, it has been claimed.

A family has had more than a third of their mortgage written off after falling into arrears with AIB.