Advice groups welcome measures but further details needed

Groups working with distressed mortgage holders have welcomed “belated” attempts by the Government to address the mortgage arrears crisis but criticised the lack of detail available so far.

The Free Legal Advice Centre (Flac) said giving circuit court judges the power to overrule a lender’s “unreasonable refusal” to accept a debtor’s proposed insolvency arrangement rebalances the power between the two parties and should lead to greater fairness.

However, it pointed out that there is still no provision for a Public Insolvency Practitioner Service for those who cannot afford a private practitioner.