Professor Philip Lane:

I share the concerns expressed in the opinion of the ECB that this would give rise to a lot of new issues in how any troubled mortgage would be handled. Many of the specifications in the Bill would give rise to a lot of contestation in a court process. This is basically asking the court to do a lot of work by bringing in all sorts of extra information as to how it should assess whether to grant a repossession order. The ECB opinion is quite comprehensive in laying out all of the possible downsides to that approach. We would share those concerns.