FF calling for more flexibility on mortgage arrears

Calls have been made for the Government to introduce legislation which would force the banks to give more flexibility to homeowners whose mortgages are in arrears.

Fianna Fáil is putting forward the Family Home Bill in the Seanad this week.

It comes after it was revealed yesterday that more than 100 repossession orders sought by lenders since 2009 could be struck out due to a legal loophole.

The High Court yesterday ruled that lenders must have made demands for repayments prior to December 2009 in order to apply for an eviction.

Fianna Fáil Senator Marc MacSharry has said something needs to be done to allow more flexibility for struggling homeowners.