We understand that some customers may experience short term repayment difficulties with their mortgage as a result of COVID-19. Customers who are experiencing financial difficulty in paying their agreed monthly mortgage repayment and who contact us to inform us that they are financially impacted by COVID-19, will, where appropriate, be provided with either a payment break for up to 3 months or the option to pay interest only for up to 3 months.
If you would like to apply for a three-month break or to pay interest only, please call us on 1890 995 998 Our team is available Monday-Friday 09:00-17:00. This solution is available to both private dwelling homes and Buy-to-Let customers.
In order for any solution to take effect before your next scheduled repayment date, please ensure you contact us at least 7 working days before that date.
It is important to note that when the payment break or interest only period ends, your monthly repayments over the remaining term of your loan will be increased to ensure that your mortgage will be repaid (together with interest due) within its original term.
Please note that where there is more than one party on the mortgage, all parties should be available to discuss their current circumstances with us.
THE MORTGAGE ARREARS RESOLUTION PROCESS
Like many homeowners, your financial situation may have changed in recent years. You may have fallen behind on your mortgage repayments or may be worried about not being able to pay your mortgage in the future. If you find yourself in this situation, our team is available to discuss your circumstances and to work with you to find a solution to resolve your financial difficulties.
The Central Bank of Ireland’s Code of Conduct on Mortgage Arrears (CCMA) describes a framework for handling mortgages where you have fallen behind with repayments. It also covers a situation where you may be in financial difficulties and you let us know before actually falling behind (going into arrears). The framework is called the Mortgage Arrears Resolution Process (MARP).
How can we help?
The MARP applies to your case if you are in financial difficulty and are concerned about falling behind on your mortgage payments or you are already in arrears. Click here for a booklet that provides information on the MARP. It is always important to co-operate with us in relation to any arrears, otherwise you are at risk of being classified as ‘not co-operating’ and the MARP will no longer apply to you. This is explained in more detail in the MARP booklet.
Mortgage Arrears Resolution Process (MARP)
It is always important to co-operate with us in relation to any arrears, otherwise you are at risk of being classified as 'not co-operating' and the MARP will no longer apply to you. This is explained in more detail in the MARP booklet.
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There are four simple steps to the MARP:
The MARP booklet has a summary of our communications policy. It is important that you talk to us. The Arrears Support Unit (ASU) is there to help you and can be reached on 1890 995 998.
We provide you with a form to fill in, known as the Standard Financial Statement (SFS), to ensure we have a detailed understanding of your finances.
We assess the information in your completed SFS and examine your situation on its merits. We use this information to decide which solution is best for you.
There are different options we explore to try to prevent you falling behind on your mortgage payments or going further into arrears. We determine which option(s) may work to provide a sustainable solution that is workable for you. There may be other solutions if the mortgage is not viable.
Getting help to complete a Standard Financial Statement (SFS) or Income & Expenditure Form (I&E)
It is helpful to gather all your relevant information, including bills, receipts and documents, before you fill out your SFS or I&E. You should include all your basic living expenses. Completing one of these forms is useful as it may help you to think of ways to reduce your expenses and spending. There are options available if you need help:
Consumer Guide to Completing the Standard Financial Statement: The Central Bank of Ireland published this guide to assist borrowers with the completions of the SFS. Click Here to download a copy of the guide. You can also contact us and we will send you a copy.
Speak to us: The Arrears Support Unit (ASU) responsible for your mortgage can help you complete the SFS or the I&E. You can call the team on 1890 995 998.
Independent advice: You may prefer to seek independent advice from your financial advisor or from MABS (the Money Advice and Budgeting Service). MABS is a national, free, confidential and independent advice service for people in debt difficulties or in danger of getting into debt difficulties. The MABS Guide to the Code of Conduct on Mortgage Arrears is available at www.mabs.ie. It will help you to complete the SFS or I&E.
When we receive your completed SFS, our ASU will review it and we will send a copy back to you in the post.
We may also ask you to provide other documents so that we can assess your situation. These could include bank statements and proof of income.
Data Protection Commissioner
Provides information on individuals' rights and on organisations' responsibilities relating to the storing of personal data. It also gives you guidance on how the rights and principles apply in different practical situations.
Finance Ireland Appeals Board
The Appeals Board
Finance Ireland Residential Mortgages,
85 Pembroke Road,
Dublin 4, D04 YN53.
Central Bank of Ireland
Provides independent information on financial products and includes the Code of Conduct on Mortgage Arrears.
Citizens Information Board (CIB)
Provides information on the services and entitlements available if you are having difficulties paying your rent or making your mortgage repayments. The website has contact details for all local Citizens Information Centres.
0761 074 000
Monday to Friday 9am - 8pm
Free Legal Advice Centre (FLAC)
Provides basic, free legal services to the public in the four main areas of: legal aid, social welfare, credit and debt, and public interest law. The website has contact details for all local Legal Advice Centres.
1890 350 250
Department of Social Protection
This government department provides details on Jobseeker's Allowance, Mortgage Interest Supplement and other welfare benefits that you may be entitled to. The website has contact details for all local centres.
Financial Services and Pensions Ombudsman
This statutory office deals independently with unresolved complaints from consumers about their individual dealings with all financial service providers. It is a free service.
Finance Ireland Arrears Support Unit (ASU)
Finance Ireland Mortgage Arrears
85 Pembroke Road,
Dublin 4, D04 YN53.
1890 995 998
+353 1 647 0250 (outside Ireland)