Mortgage Arrears Resolution Process

Mortgage lenders must follow a defined process when dealing with borrowers facing arrears.

At Mulcair Credit Union, we are committed to helping members who find themselves in Home Loan arrears or who fear that they may fall into arrears. We have a process in place in line with the Central Bank of Ireland’s Mortgage Arrears Resolution process. Should you find yourself in arrears or think you may fall into arrears, please do not hesitate to contact the arrears support team on 061 378 099.

You can also email info@mulcaircu.ie including Mortgage Loan arrears in the subject title.

Useful Websites

  • MABS (Money Advice & Budgeting Service) contains information on Home Loan Arrears: www.mabs.ie/en/

  • The Insolvency Service of Ireland provides information to borrowers on the process under the Personal Insolvency Act, 2012: www.isi.gov.ie

  • If you have problem debt, here’s a website to help you get Back on Track – https://backontrack.ie/

Documents which will help you in your application

  • The MARP (Mortgage Arrears Resolution Booklet). This outlines the process for members who may find themselves in repayment difficulty;

  • The SFS (Standard Financial Statement). This form will give us a full picture of your current household income and expenditure;

  • Guide to completing the SFS. This guide will help you when completing the SFS and explain what figures are needed in each section of the form;

  • Central Bank of Ireland’s guide to completing the SFS. This guide has been published by the Central Bank of Ireland and should be used in conjunction with the Mulcair Credit Union guide when completing your Standard Financial Statement.

The most important thing should you find yourself in Mortgage Loan arrears or fear you may fall into arrears, is to contact us immediately so we can work together to find a suitable arrangement.

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