Repayment Difficulties Residential Mortgages

Repayment Difficulties
Primary Residence

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:

  1. Communication:

    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.

  2. Financial Information:

    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.

  3. Assessment:

    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.

  4. Resolution:

    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.

Supporting Documentation

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.

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