Ciarán Lynch (Cork South Central, Labour)
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To ask the Minister for Finance the percentage of agreements entered into by each of the covered institutions in which the mortgagee in arrears has been required to sign a confidentiality agreement prior to entering into negotiations; if the Central Bank of Ireland has oversight of such agreements; if this practice will continue when the Personal Insolvency Act 2012 is implemented; and if he will make a statement on the matter. [13623/13]

Michael Noonan (Limerick City, Fine Gael)
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I must advise the Deputy that the detail of any mortgage restructuring agreement is a matter for each individual bank and borrower. The Central Bank has advised that such agreements should not impede consumer’s protections under the Code of Conduct on Mortgage Arrears (CCMA) and this would continue to be the case under the Personal Insolvency Act. CCMA examples:

- at the borrower’s request and with the borrower’s written consent, the lender must liaise with a third party nominated by the borrower to act on his/her behalf in relation to his/her arrears situation (Provision 6 of the CCMA); or

- Where an alternative arrangement is offered by a lender, the lender must provide the borrower with a clear explanation, in writing, of the alternative repayment arrangement, including the borrower must be advised to take appropriate independent legal and/or financial advice (Provision 37 (g) of the CCMA); or

- the borrowers right to refer appeals to the Financial Services Ombudsman (Provision 44 (e) of the CCMA).