The Irish Banking Federation says banks are committed to keeping roofs over people’s heads.
The group says 20 repossessions are reported out of every 100,000 mortgages in this country, compared to 72 in the UK.
Director of Public Affairs at the IBF Felix O’Regan said that people in trouble with their mortgages must talk to their lender.
“Banks are primarily focused on working with their customers to maximise the number of sustainable mortgages to keep a roof over people’s heads,” he said.
“This is why early engagement with the lender is crucially important.
“A restructured arrangement can be put in place and in a great many cases time will prove instrumental in terms of finding a solution to the situation.”