This form should only be filled out if you are already on a 6 month COVID-19 payment break (moratorium/interest only).
Extending the term of your mortgage by 3 or 6 months will lower your new mortgage loan repayments when your payment break ends but the repayments will still be higher than they were before you took the payment break. This is due to the interest charged during the payment break. Extending the term of your mortgage by 3 or 6 months will also mean that you will pay more interest over the term of the mortgage loan.
For Payment Breaks expiring in September 2020, in order to avail of a Term Extension, please ensure that you submit the below form by the 28th September and be available for a call back within 24 hours of submitting this form.
Please tick the below to confirm:
I/we understand that I/we do not have to give EBS information about my/our health. Where in support of this application, I/we may have provided information which comes under the definition of special categories of personal data (information regarding Race, Ethnic Origin, Political Opinion, Religious or Philosophical beliefs, Trade Union Membership, Biometric or Genetic Data, Health, Sex Life or Sexual orientation) and/or information relating to criminal convictions/offences, I/We consent to its storage and use in relation to this application. I/We understand that the information will only be used for this purpose. I/We may withdraw this consent at any time.
For qualifying accounts, Revenue give Tax Relief at Source (TRS) on the mortgage interest you pay in the current year on a private dwelling house. If you have taken a moratorium you may pay less interest this year than you would normally and this may mean your TRS reduces. Your TRS may vary each month, depending on what Revenue tell us to apply to your account, or if there is a change to your repayments. If we pay you too much TRS, we reserve the right to reclaim it, but we will contact you to tell you if we are going to do that. Please note it can take up to two months for TRS to be re-applied to your account after a moratorium period. If you have a question about TRS, you should contact Revenue’s helpline at 01 7383663 or their website at: www.revenue.ie
If you were on an agreed alternative repayment arrangement with the Bank prior to your first moratorium/interest only period, your previous mortgage repayments were restructured to a sustainable level that is affordable for you. At the end of your current moratorium/interest only period, if your mortgage repayment amount is no longer sustainable for you please contact us in the month before the moratorium/interest only period expires.
We recommend that you take independent legal and/or financial advice in relation to this Term Extension request.