If you are experiencing financial difficulties and perhaps are a little worried about managing your EBS mortgage repayments, then this is where you can locate all the information you need to help you through this difficult time.
The best thing to do is to talk to us here in EBS. As soon as you make us aware of your financial concerns, together we can talk through the best solution for you. We know that every situation is different, however we are here to lend an ear to ensure we can help you with your particular circumstances. If you are looking for some instant answers about managing your mortgage, why not have a read through our helpful guides under "I'm looking for some independent advice" heading below, or get in touch with our dedicated arrears support department?
How Do I Contact the EBS Arrears Support Unit?
The sooner you sit down for a chat with us, the quicker we can help.
We’ve outlined EBS’ Mortgage Arrears Resolution Process (MARP) in four easy steps below, to give you a clear picture of what this involves. Also full details of the 4 steps of MARP are contained within our MARP booklet.
Step One: Communication
Step Two: Providing Financial Information
Documents you'll need to include with your completed SFS
(i) In all cases: 3 months most recent bank statements for all current accounts held by you. Your name, address and account number must be stated on at least one of the pages.
(ii) If you’re employed (PAYE): 3 most recent payslips.
(iii) If you’re self-employed: Revenue balancing statement (Notice of Assessment), and 6 months most recent business current account statements.
(iv) If you’re unemployed /a job seeker: 3 most recent social welfare receipts or confirmation of social welfare payments to be received.
Step Three: Assessing Your Situation
(i) Your personal circumstances.
(ii) Your overall indebtedness.
(iii) The information provided in the SFS and other supporting documentation.
(iv) Your previous repayment history.
(v) Your current repayment capacity.
We’ll look at each of these areas to provide you with realistic and sustainable alternative repayment option on your mortgage, which brings us to the last and final step of the process; the best solution for you.
Step Four: Offering a Solution to Suit
Once we have gathered and assessed all the information relating to your financial circumstances, we will work with you to explore all possible options. We’ll do everything we can to agree alternative repayments that will help you stay in your home or, if this isn’t feasible, we’ll let you know the relevant next steps. Read below to learn the kind of solutions which might be considered.
Solutions that will help me keep my home
(i) Interest Only
(ii) Fixed Repayment'
(iii) Extension of Loan Term
(iv) Capitalisation of the Arrears and Interest
(v) Changing the Type of the Mortgage
(vi) Deferred Interest Scheme
(vii) Split Mortgage
(viii) Low fixed Interest Rate
(ix) Positive Equity Solution
What other options are available?
(i) Voluntary Surrender
(ii) Mortgage to Rent
(iii) Voluntary Sale of your Property
(iv) Negative Equity Trade
Want to find out more about these options? Check out our MARP information booklet here.
I Would Like More Information on the Mortgage to Rent Initiative
The Mortgage to Rent (MTR) solution allows eligible customers who complete the MTR scheme the opportunity to stay in their home, with a long term tenancy agreement with an Approved Housing Body. An income related rent will be set by your local authority.
EBS, in conjunction with iCare Housing and The Irish Mortgage Holders Organisation (IMHO), have launched an initiative to offer its customers an enhanced MTR solution. iCare Housing will allow tenants to buy back their homes at any time at the price iCare Housing paid for it, including any discount negotiated between iCare Housing and the lender. For more information on this initiative, please click here.
If you are in difficulty with your mortgage you can contact EBS, the IMHO or any third party financial advisor. If you would like to find out more about the enhanced Mortgage to Rent initiative, please contact the following:
Implications of Not Co-Operating
It is vital that you co-operate with EBS in relation to your current financial situation. Where you fail to co-operate with EBS, you will be classified as not co-operating which may have the following implications:
I’m Looking for Some Independent Advice
For further information on the suggested points of contact below, please click here
MABS offers free and confidential independent advice and assistance with managing your finances.
Their contact number is 0761 07 2000.
IMHO will provide free and independent professional advice if you are having difficulty meeting your mortgage repayments. Their contact number is 1890 988 977.
Stepchange Debt Charity is a free independent telephone advice service for people who are struggling with debt or mortgage repayments. You can Freephone them on 1800 937 435 (Monday - Friday 9AM – 5PM).
Keepingyourhome.ie is a website provided by the Citizens Information Board and the Money Advice and Budgeting Service (MABS). The site aims to provide comprehensive information on the services and entitlements available if you are having difficulties paying your rent or making your mortgage repayments.
The ISI is an independent government organisation with a range of solutions to problem debt – including mortgage arrears. It has a regulated network of qualified professionals that can help you get back on track.
www.backontrack.ie phone 0761064200 or text GETHELP to 50015.
Abhaile is a new State-funded service to help homeowners find a resolution to home mortgage arrears. It provides vouchers for free financial and legal advice and help from experts, which are available through MABS. A dedicated adviser will work with you and your lender to find the best solution for your situation.
www.mabs.ie Phone 0761 07 2000