Nine key features of new code of conduct on mortgage arrears

The new code of conduct makes it incumbent on banks to work with distressed mortgage holders to find sustainable solutions, writes Conor Ryan

BANKS that are dealing with people in mortgage difficulties are obliged to keep them informed of all their options and the alternatives every step of the way.

The revised code of conduct published by the Central Bank leaves little wriggle room for lenders who do not work with borrowers and try to arrive at the best long-term solution for them.