Information relating to all options


Costs

Property conveyancing and disposal costs are approximately €10,500 but may vary depending on the sale price of the property. Any additional liabilities associated with the property must be discharged by the company e.g. Non Principal Private Residence (NPPR), House Hold Charges (HHC), Local Property Tax (LPT), Capital Gains Tax (CGT), Value Added Tax (VAT), Management Company charges/ fees. All liabilities and costs will be charged to the mortgage account and payable by you.

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Liability for any debt outstanding

In the event that the property is sold, including repossession by the Bank, all the parties to the mortgage will be jointly and severally liable for any shortfall between the outstanding debt (including any accrued interest, charges, legal, selling and other related costs) and the proceeds from the sale of the property. Until your mortgage is paid in full, you must continue to make your monthly repayments. You should be aware that interest will continue to accrue on the debt until the loan and all costs due in relation to the sale of the property have been repaid in full.

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Credit Rating

Please note that your mortgage repayment history may be recorded on your Irish Credit Bureau (ICB) profile or any other credit reference agency or credit register, where permitted by contract or required by law, and may affect your future ability to borrow. It is important that you are aware that your participation in the Mortgage to Rent Scheme, voluntary surrender of your property and repossession may be recorded on your ICB profile or any other credit reference agency or credit register, where permitted by contract or required by law, and may also affect your future ability to borrow.

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Reviews

We will review your situation at intervals that are appropriate to the term of the arrangement to ensure you continue to be on the most appropriate arrangement for your circumstances. All borrowers to the mortgage must co-operate with these reviews, for example, by submitting an updated Standard Financial Statement (SFS)(xls, 700 KB).

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Keep us informed

You are required to advise us at any stage, if your repayment capacity has materially changed, that is where it improves or where you are unable to make the agreed repayments. This will allow us to make a timely and informed decision about the most appropriate way forward in light of your new situation.

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If your repayment capacity improves

We will review your situation and endeavour to move you back towards making full mortgage repayments if your ability to afford monthly repayments improves. This may include, for example with a “Split Mortgage”, transferring funds from your Warehouse Account to your Main Mortgage Account. This means that you will have a lower outstanding balance on your Warehouse Account at the end of the term.

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Repossession information

Once in possession of the mortgage property, the Bank will appoint a Selling Agent to put it on the open market in order to obtain the best possible price.

Please note that all costs in relation to the sale of the property will be paid from the sale proceeds before funds are lodged to redeem the mortgage account.

In the event the Bank sells the property at a loss, ALL parties to the mortgage will be liable for the shortfall due and owing to the Bank after all costs in respect of the sale are paid.

In the event the Bank sells the property and after all costs in respect of the sale are paid, there is a surplus amount remaining, the surplus amount will be issued to the borrower’s representatives.

Property conveyancing and disposal costs are approximately €10,500 but may vary depending on the sale price of the property. Any additional liabilities associated with the property must be discharged by the Bank e.g. Non Principal Private Residence (NPPR), House Hold Charges (HHC), Local Property Tax (LPT), Capital Gains Tax (CGT), Value Added Tax (VAT), Management Company charges/ fees. All liabilities and costs will be charged to the mortgage account and payable by you.

Please click here for important regulatory information regarding housing loans.

Warning: If you do not keep up your repayments you may lose your home.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

Appeals and Complaints

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Useful Documents

Mortgage Arrears Resolution Process (MARP) Guide (167KB) 
Standard Financial Statement (xls, 700KB)
Standard Financial Statement (527KB)

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