Mortgage Repayment Difficulties

I’m Having Difficulty with My Mortgage Repayments

Worried about your mortgage repayments? You may be worried about your ability to keep up with repayments on borrowings or other debts, while living on a reduced income. If this is the case, the best things you can do is talk to us now and make a plan. The best thing to do is get in contact with EBS. We are ready to work with you on a solution that will help you manage your finances through difficult times. It is very important not to ignore the early signs of financial difficulty. Some people panic or ignore the problem in the hope that it will go away or resolve itself but it is always best to face the problem head on.

But the sooner you sit down for a chat with us, the quicker we can help. We’ve outlined EBS’ Mortgage Arrears Resolution Process (MARP) here in four easy steps, to give you a clear picture of what to expect. If you’re worried about meeting your mortgage repayments, you can get in contact with our dedicated arrears support team on 1850 33 00 44. We’re ready to chat Monday-Thursday 9AM-8PM, Friday 9AM – 6PM, and Saturday 9AM – 1PM.

How Do I Contact the EBS Arrears Support Department?

The sooner you sit down for a chat with us, the quicker we can help.

  • If you’re worried about meeting your mortgage repayments, you can get in contact with our dedicated arrears support team on 1850 33 00 44.
  • If you have received a text message from us, you can give us a call on 0818303077.
  • You may also receive calls in relation to your mortgage from EBS from the following number - 01 7714415.
  • We’re ready to chat Monday-Thursday 9AM-8PM, Friday 9AM – 6PM, and Saturday 9AM – 1PM. ASU are not available on Bank or Public Holidays.
  • Alternatively you can write to us at The EBS Building, 2 Burlington Road, Dublin 4, D04 WV00, Ireland. 

We’ve outlined EBS’ Mortgage Arrears Resolution Process (MARP) here in four easy steps, to give you a clear picture of what to expect.

Step One: Communication

  • Although this may seem daunting, the first step is to let us know that you are worried about your finances.
  • It’s tempting to just get on with daily life and hope the issue will go away on its own, but it's important not to ignore the early signs of financial difficulty or stress.
  • If you are already in arrears with your mortgage repayments, the best thing to do is get in contact with us so we can do our best to help. We have team of dedicated trained staff who will bring you through the steps involved and answer any query you have.
  • The earlier you make contact with us the sooner we can work together to find ways to improve your situation.

Step Two: Providing Financial Information

  • After you’ve talked to our team, we will ask you to complete a Standard Financial Statement (SFS), which is an industry-wide document created by the Central Bank of Ireland. It might sound intimidating, but don’t worry; this is simply a detailed form that allows you to outline your current financial circumstances.
  • This will give us (and you) a clearly defined picture of your situation, in addition to assisting us in providing a sustainable solution.
  • You will find that the Central Bank of Ireland website has a helpful guide to completing a Standard Financial Statement called Mortgage Arrears Completing a Standard Financial Statement
  • If you are worried about going into financial difficulty (but haven’t missed a payment just yet), the completed SFS should be sent to your local EBS office.
  • However, if you are already in arrears, the SFS should be sent directly to the Arrears Support Unit (ASU) at the address provided above. We’ll also need documentation to support the information in the SFS, therefore we’ve created a useful list below of all documents needed (it's important to know that these documents should be provided for each party to the mortgage account).
  • Your completed SFS form, together with supporting documentation, should be sent to the EBS within 20 days of contacting us. 

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

  • We know every situation is different, so we’ll take all your information into account and assess your individual circumstances. This involves reviewing the information provided by you in the SFS and asking any questions about the information provided in the meantime. We’ll consider your individual case carefully, based on the following:

     (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) Split Mortgage

What other options are available?

(i) Voluntary Surrender

(ii) Mortgage to Rent

(iii) Voluntary Sale of your Property

Want to find out more about these options? Check out our MARP information booklet here.

I’m Looking for Some Independent Advice

Money Advice & Budgeting Service (MABS)

MABS offers free and confidential independent advice and assistance with managing your finances.
Their contact number is 0761 07 2000.

The Irish Mortgage Holders Organisation (IMHO)

IMHO will provide free and independent professional advice if you are having difficulty meeting your mortgage repayments. Their contact number is 1890 623 624.

Stepchange Debt Charity Ireland

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).