The Central Bank and the Government want debt writedowns to form part of the solutions to the mortgage arrears crisis, but ultimately the decision is up to the banks.

THERE was some small relief for struggling homeowners yesterday with news they will not face interest charges if they fall into arrears on their mortgage.

HOUSEHOLDERS in arrears with their mortgages can expect a good talking-to from their lenders, if a new code of conduct for banks and building societies is approved.

STRUGGLING mortgage- holders who take part in a new resolution scheme with banks won’t be hit with penalty interest or arrears charges.