Morgáistí

Mortgage Arrears

Depending on your circumstances, the following options may be available:

1. A new payment plan - This option is tailored for you so you can address your arrears while paying your monthly instalment over a certain agreed period of time.
2. Extending the loan term – This option is dependent on the age of the borrower, the current term of the loan and the type of loan.
3. Capitalising – This option involves adding the arrears that have built up to the loan. This will create a new monthly instalment and clear the current arrears.
4. Restructuring the loan – This option is available for homes purchased under the Shared Ownership Scheme and involves transferring your loan to 100% ownership.
5. Mortgage to Rent – This option is for homeowners at risk of losing their home due to mortgage arrears. Under this Scheme you will transfer ownership of your home to Dublin City Council while you continue to live in it as a social housing tenant. Eligibility criteria applies.
6. Voluntary sale – This is where you sell the property yourself and the proceeds from the sale are paid against the balance owed to Dublin City Council. If the sale of the property does not cover amount owed on the loan, you will be liable for the remaining debt, however we will make an arrangement with you for repayment of the debt.
7. Voluntary Surrender – This option allows you to voluntarily hand over ownership of your property to Dublin City Council. It should be noted that you will be liable for any residual debt that remains.

Useful Contacts

• Money Advice and Budgeting Service (MABS) - Money advice service, guiding people through dealing with problem debts. Tel: 076 107 2000 www.mabs.ie

• Citizens Information Board – The Citizens Information Board provides information, advice and advocacy on a large range of public and social services. Tel: 076 107 4000 www.citizensinformation.ie

• Keeping Your Home. Tel: 076 107 4050 www.keepingyourhome.ie

• Insolvency Service Ireland (ISI) - The following is a link to the ISI, which will provide information on the processes under the Personal Insolvency Act 2012. www.isi.gov.ie

Already have a Mortgage with us?

If you have a mortgage with us, you can check any aspect of your account with our Housing Loans Section. We look after the following areas:

• Shared Ownership Accounts
• Affordable Housing Scheme - Clawback
• TRS (Tax Relief at Source)
• Statement of Accounts
• Interest rates
• Balance of Loan
• Processing Mortgage Protection Insurance Claims
• Rental/Mortgage Subsidy