Lenders warned to obey code of conduct

LENDERS must abide with a code of conduct aimed at helping people in mortgage arrears, the Master of the High Court Edmund Honohan warned yesterday.

Mr Honohan, who deals with the preparation of cases on their way to hearing in the High Court, struck out a number of repossession applications by mortgage lenders saying they had not complied with the code which was issued by the Financial Regulator last February.

“It is not an option, it is mandatory,” he said when striking out three cases involving KBC Mortgage Bank.