The Finance Minister Michael Noonan has given the clearest hint yet that banks are to lose their veto over the insolvency process.

Mr Noonan says a new bill is being prepared to change parts of insolvency process - including the power to block any deal.

Opposition parties have long argued that banks should not be able to block a struggling mortgage holder from going into an insolvency process.

Michael McGrath of Fianna Fáil says the final decision should be made by a court instead.

Mr Noonan says that change is likely.