We will be reviewing compliance by the banks later in the year. But generally speaking, the Code provides a strong framework for handling arrears cases and appears to be facilitating what might be called standard forbearance techniques.
These are approaches like maturity extensions, switches to interest only mortgages and interest holidays which work where the borrower needs temporary help and has a reasonable prospect of ultimately repaying their mortgage. However, there are some customers where these approaches will not work because the problem of affordability is so severe.