Central Bank (Code of Conduct) Bill 2015

Public bill · Private Member · Introduced

A borrower’s home could not be repossessed by court order unless the lender has followed the Central Bank’s code of practice on handling mortgage arrears. The measure would apply broadly to lenders and similar loan firms, and it would treat a property as a primary residence unless the court is satisfied otherwise. It matters because it would give stronger protection to family homes and make compliance with arrears procedures a condition for repossession.

Formal long title

Bill entitled an Act to provide for measures to ensure a primary residence of a borrower is not repossessed by court order in circumstances where the lender in question has not complied with a relevant code of practice

Last updated 19 February 2020