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Managing Your Mortgage

If you are having difficulty with your mortgage repayments talk to your lender.

Here are 4 reasons to act now:

  1. Your bank is committed to helping you to manage your mortgage arrears and to keep you in your home.
  2. Your bank has people ready and willing to assist you – they are just some of the 2,000+ people banks have assigned to the management of mortgage arrears.
  3. Your mortgage could be restructured and the repayments made more manageable for you – some 74,000 mortgages have already been restructured in this way.
  4. Your interests are protected under the Central Bank’s statutory Code of Conduct on Mortgage Arrears – your bank must make all reasonable efforts to assist you if you are experiencing difficulties with your mortgage repayments.

Remember that, no matter how difficult your situation is, it is important not to ignore communications from your lender – your bank wants to work with you to find a solution and this can only be done by talking to each other and working together.

Mortgage Lender Contact Details

ACC Loan Management

Web: http://www.accloanmanagement.ie/
tel: 01 4184000

AIB Bank

web: www.aib.ie
tel: 1890 252 008

Bank of Ireland Group

web: www.bankofireland.com/
tel: 01 611 3305/076 624 4444 (BoI)/01 611 3000 (ICS Building Society)

Danske Bank

web: www.danskebank.ie
tel: 1890 923 346 (from outside ROI: +353 (0)61 236852)

EBS Limited

web: www.ebs.ie
tel: 1850 330 044

KBC Bank Ireland plc

web: www.kbc.ie
tel: 1850 930 235

Leeds Building Society

web: www.leedsbuildingsociety.co.uk
tel: 0818 333 017

Lloyds Banking Group

web: www.bankofscotland.co.uk/ireland
tel: 1890 818 181

Permanent tsb

web: www.permanenttsb.ie
tel: 1800 855 010

Ulster Bank Ireland Ltd.

web: www.ulsterbank.ie
tel: 1800 435 763

Managing Your Mortgage

The mainstream banks and building societies remain fully committed to working constructively with customers who are experiencing genuine difficulty with their mortgage repayments.

For details on managing other debt problems, please visit the Debt Management page here.

On this page, find out more about:

  • Your Guide to Dealing with Mortgage Repayment Difficulties
  • Central Bank of Ireland’s statutory Code of Conduct on Mortgage Arrears

BPFI and its members developed the consumer guide ‘Your Guide to Dealing with Mortgage Repayment Difficulties’ in consultation with the Money Advice and Budgeting Service (MABS). This straightforward consumer guide provides clear four-step advice as to what the borrower should do and also spells out what the lender will do in accordance with the BPFI Pledge on Home Repossessions to Homeowners and the statutory Code of Conduct on Mortgage Arrears.

It is important for a borrower to get in touch with his/her lender in order to work together to find a mutually acceptable & sustainable solution. The importance of early engagement is reflected in the four key action steps as follows that a borrower is advised to take:

  • Contact your mortgage lender as soon as possible if you’re having trouble with your mortgage repayments or you are concerned that this might be likely to happen
  • Look at your financial situation to make sure that you’re maximising your income and draw up a budget based on your most important spending commitments
  • Respond to letters or phone calls from your mortgage lender or their legal representative
  • If you are genuinely unable to make your mortgage repayments, ask your mortgage lender to explore with you one or more of the options available under the statutory Code of Conduct on Mortgage Arrears
  • In addition to providing details of the statutory code, the website also provides information on the BPFI/MABS Protocol on Debt Management, which provides further assurance to borrowers facing difficulty with their repayments.

Codes

Code of Conduct on Mortgage Arrears – Central Bank
The Central Bank of Ireland’s statutory Code of Conduct on Mortgage Arrears came into effect on 27 February 2009. It was revised in February 2010 and January 2011. This Code builds on BPFI’s voluntary Code of Practice but it applies to all mortgage lenders, whether they are credit institutions or not, providing mortgage borrowers with added reassurance.