The scheme was set up in 2016 and has so far provided financial advice and negotiation support to over 12,000 households at risk of losing their homes.

Its court mentors provided information and advice to nearly 11,000 unrepresented borrowers at repossession court sittings, and its duty solicitors provided legal advice and help at repossession court sittings to over 6,000 unrepresented borrowers.

Mr Flanagan said: “This is a scheme which has helped many already and which we intend will continue, and help many more over the next three years. It is a scheme which is working.

“To date 82 per cent of those advised are either on the road to getting a solution, or already have one in place. Accordingly, we were delighted to get the backing of our Cabinet colleagues today for this extension.”

Ms Doherty added: “Abhaile is often the first point of contact for distressed mortgage holders, and it provides successful solutions – helping to put in place personal insolvency arrangements, alternative repayment plans, or other arrangements such as Mortgage to Rent, that are tailored to the borrower’s individual situation, and are realistic, sustainable and fair, both to borrowers and to creditors.

“Of those who have engaged with us, the vast majority have managed to stay in their homes, so I would encourage anybody who is in difficulty to take the first step and call the Money Advice and Budgeting Service.”