New banking code slashes moratorium on repossessions by 10 months
The moratorium on home repossession is to be slashed from 12 months to two months under a new banking code.
It is just one of a number of drastic measures set to come into force in July, and will also allow bank representatives to hassle people at their homes as well as over the phone.
David Hall from the Irish Mortgage Holders Organisation said the changes to the code are "completely appalling".
Mr Hall said: "It's bank led and the Central Bank have serious questions to answer in relation to their consumer protection role in all of this.
"The only beneficiaries of this are the banks. The banks have persuaded the Central Bank that borrowers are sinners and that they must have power to deal with them."
