I have been informed by the Central Bank of Ireland (Central Bank) that it has not carried out work to assess the proportion of mortgage arrears cases in which relationship breakdown may be a factor as they do not collect such data. The Central Bank publishes data on Residential Mortgage Arrears and Repossession on a quarterly basis and the data is collected under the headings of arrears timelines, restructuring arrangements and legal activity & repossessions.
The Code of Conduct on Mortgage Arrears (CCMA) provides that in the case of joint borrowers who notify the lender in writing that they have separated or divorced, the lender should treat each borrower as a single borrower under the CCMA (except to the extent that an action requires, as a matter of law, the agreement of both borrowers). As with all cases of arrears, due regard must be given to the fact that each case is unique and needs to be considered on its own merits. All cases must be handled sympathetically and positively by the regulated entity, with the objective at all times of assisting the borrower to meet his or her mortgage obligations.