Repayment Difficulties

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?

Mortgage Arrears Resolution Process (MARP) Booklet

For more information on the Mortgage Arrears Resolution Process, please download a copy of our MARP booklet.

There are four simple steps to the MARP:

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 0818 995 995.

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.

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.

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 0818 995 995.
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.

Useful Contacts:

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.

Website:

www.dataprotection.ie

Finance Ireland Appeals Board

Address:

The Appeals Board
Finance Ireland Residential Mortgages,
85 Pembroke Road,
Ballsbridge,
Dublin 4, D04 YN53.

Central Bank of Ireland

Provides independent information on financial products and includes the Code of Conduct on Mortgage Arrears.

Address:

www.centralbank.ie

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.

Phone:

0761 074 000

Hours:

Monday to Friday 9am – 8pm

Website:

www.citizensinformationboard.ie

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.

Phone:

+353 1 906 10 10

Hours:

Monday to Friday 9am – 8pm

Website:

www.flac.ie

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.

Website:

www.welfare.ie

Financial Services 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.

Address:

Financial Services Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2, D02 VH29.

Phone:

+353 1 567 7098

Email:

info@fspo.ie

Website:

www.fspo.ie

Finance Ireland Arrears Support Unit (ASU)

Address:

Finance Ireland Mortgage Arrears
Support Unit,
85 Pembroke Road,
Ballsbridge,
Dublin 4, D04 YN53.

Phone:

0818 995 995
+353 1 647 0250 (Outside Ireland)