It is essential that you co-operate with PTSB in relation to your current financial situation. If you fail to co-operate with us, you may be classified as ‘not co-operating’, which may result in the following:
A charge of €10 may be applied to your account for unpaid Direct Debits, if you don’t co-operate with the Bank under Mortgage Arrears Resolution Process (MARP).
Section 134 (2) of the Consumer Credit Act 1995 requires the Bank to provide you with an estimate of the legal costs in relation to any potential repossession proceedings (if repossession proceedings have not already commenced) regarding your property. Please note that the estimate also includes the legal costs incurred by the Bank in relation to the preparation of any repossession proceedings.
If repossession proceedings are not defended by you, it is estimated that the legal costs and outlays incurred by the Bank, from the time that an external legal services provider is appointed by the Bank until the time when a property is taken into possession by the Bank, will amount to approximately €8,000.
In the event that repossession proceedings are, for example, defended and/or adjourned on a number of occasions and/or if the repossession proceedings are complex and/or in the event of any appeal or court applications for an extension of a stay on any order made, additional legal costs will be incurred by the Bank. It is estimated that the legal costs and outlays incurred by the Bank in relation to such matters, from the time that an external legal services provider is appointed by the Bank until the time when a property is taken into possession by the Bank, will amount to approximately €16,500.
In the event that certain specific events happen, i.e. when an alternative repayment arrangement/settlement is agreed with you, when a Court determines that legal costs must be paid by you or when your mortgage is redeemed, some/all of the estimated costs noted above become due for payment by you depending on the circumstances of your case. Please note that no interest will be charged in relation to these costs.
Under the CCMA, you can be classified as not co-operating when:
1. Any of the following apply to your particular case:
a. You fail to make a full and honest disclosure of information to the Bank that would have a significant impact on your financial situation.
b. You fail to provide information relevant to your financial situation within specified timelines.
c. A three-month period goes by:
i. Where you have not entered into an alternative repayment arrangement, and during that time you have either:
or
Or
ii. Where you have entered into an alternative repayment arrangement, and failed to fully meet repayments as specified in the terms of the alternative repayment arrangement.
And in (i) or (ii) above, you have either:
2. A warning letter has been issued to you and you have not carried out the action(s) specified in that letter.
For more information, please see the Central Bank of Irelands Code of Conduct on Mortgage Arrears (pdf, 1.1 MB)
There are many ways for you to remain in contact with us.
We have a dedicated team available to take your call on 1800 855 010 or 021 601 3800.
Opening hours: Monday to Friday, 8.45am to 6pm (excluding bank holidays)
You can call in to any PTSB branch. We have a team of trained staff at all of our branches that will help you if you feel you may have difficulties repaying your mortgage.
We also have a dedicated Mortgage Arrears section on our website with useful information for customers experiencing difficulties repaying their mortgage.
How to pay:
To arrange for payment of the amount due you can:
Lines are open from Monday to Friday from 8.45am until 6pm (excluding bank holidays).
Failing to fully engage with us to address the arrears may leave us with no option but to consider you as not co-operating
Make a payment to your mortgage account
