Customer safeguards no longer apply in revised code of conduct on arrears

The current limit on a bank of contacting a distressed mortgage customer a maximum of three times in a month has been removed as part of the revised Code of Conduct on Mortgage Arrears (CCMA).

The revised code is part of an overall package of reforms aimed at accelerating the resolution process between banks and mortgage holders in arrears.

The main provisions deal with differentiating between co-operating and not co-operating customers.