Ulster Bank encourages mortgage customers in arrears to contact them
Ulster Bank has issued a statement this evening encouraging any customers who are experiencing financial difficulty to contact the bank as soon as possible.
The bank has begun to send out repossession notices to residential homeowners who are in arrears.
It comes just days after the Government announced new measures to tackle the mortgage arrears crisis - promising that repossessions would only be used as a last resort.
Ulster Bank said it continues to contact and communicate with its customers who are in mortgage arrears and remains committed to working with any of its customers to find a solution on a case-by-case basis.
The Irish Independent reports that Ulster Bank repossessed around 200 homes last year, but that figure could rise to 1,000 this year.
United Left Alliance TD Joan Collins is now calling on the Central Bank to intervene.