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Step B: In the unlikely event that you remain unhappy with the outcome of the review you may refer your case to the Appeals Board. Appeals must be made in writing and posted to: MARP Appeals, 3rd Floor, 2 Burlington Road, Dublin 4.

Within 48 hours of receiving a written appeal we will confirm that we have received it. All issues raised will be fully investigated. The final decision of the Appeals Board will be made no later than 30 days after receipt of the appeal. If we need more time to investigate your appeal, we will let you know and keep you up to date with our progress.

Step C: If you have followed steps A and B above and are still not satisfied you can ask the Financial Services Ombudsman to investigate. This is an independent office that investigates unresolved complaints against financial institutions. Before taking a complaint to the Financial Ombudsman you must make sure you have followed steps A and B above.

You can contact the ombudsman by phone, fax post or email.

Phone: 1890 88 20 90 (lo call)

Fax: 01 6620890

Post:

Financial Services Ombudsman’s Bureau, 3rd floor, Lincoln House, Lincoln Place, Dublin 2

Email: enquiries@financialombudsman.ie

OTHER USEFUL INFORMATION….

Get some independent advice from MABS (Money Advice & Budgeting Service)

Are you claiming all of the benefits that you are entitled to? There may be additional benefits that you could be entitled to but not currently claiming. With offices nationwide, MABS offer a free and confidential service covering all areas of personal finance. Their team of professional Money Advisers can help draw up a budget, renegotiate repayments with other lenders and advise you on any benefits you maybe entitled to.

To contact MABS, phone their lo-call number – 1890 283 438 or visit their website on www.mabs.ie

www.keepingyourhome.ie is a website provided by the Citizens Information Board and the Money Advice and Budgeting Service (MABS). The site provides comprehensive information on the services and entitlements available if you are having difficulties making your mortgage repayments.

Visit your local Social Welfare Office Make an appointment with your local Social Welfare office to find out if you are entitled to any benefits such as jobseekers allowance or mortgage subsidy allowances.

GLOSSARY OF TERMS

Arrears Arrears arise on a mortgage loan account where a borrower has not made a full mortgage payments or only makes a partial mortgage payment, as per the original mortgage contract, by the scheduled due date.

Arrears Support Unit (ASU) The ASU is the unit within EBS responsible for dealing with mortgage holders currently in arrears or in danger of going into arrears (pre arrears).

Business day means any day except Saturday, Sunday, bank holidays and public holidays

Capitalisation Process of adding some or all of the arrears to the total loan amount borrowed and adjusting the monthly repayment so that they are repaid along with the original loan amount over the life of the mortgage.

Code of Conduct on Mortgage Arrears (CCMA) The CCMA was published by the Central Bank of Ireland, effective from 1st January 2011. The Code sets out how mortgage lenders must treat mortgage holders in or facing mortgage arrears. A copy of the Code can be downloaded from the Financial Regulator’s website www.financialregulator.ie.

Fixed Rate Under a fixed rate mortgage, the interest rate remains constant throughout an agreed term – irrespective of the changes in base rate – and the borrower pays the same amount each month during that term. A borrower may switch from a fixed rate mortgage but a fixed rate redemption charge may apply.

Mortgage A mortgage describes a loan provided to a borrower by a lender, for which a legal claim against property acts as security for the loan. The lender becomes the legal owner of the property being used as security which the borrower is the beneficial owner. When the loan is repaid the legal ownership is given to the borrower.

Mortgage Holder Also referred to as the ‘Borrower’. Includes all parties named on the mortgage loan account.

Pre Arrears A pre arrears case arises where the borrower contacts the lender to inform them that they are in danger of going into financial difficulties and/or is concerned about going into mortgage arrears.

Primary Residence means a property which is: (i) a residential property which the borrower occupies as his/her primary residence in this State, or (ii) a residential property in this State which is the only residential property owned by the borrower.

Repossession means any situation where a lender take possession of a property either by way of voluntary agreement with the borrower, through abandonment of the property by the borrower without notifying the lender, or by Court Order.

Standard Financial Statement (SFS) The SFS is a budgeting tool which lists all of the monthly household income and outgoings. It is used by the ASU as part of the assessment process under the MARP.

Term The period for which the mortgage was taken out.

Variable rate Variable rates go up and down in response to changes in the ECB’s base rates, lender’s costs and market forces. This means that the amount the borrower pays goes up and down with the rate changes.

Tracker mortgage this kind of mortgage has an interest rate which follows the European Central Bank’s base rate. The monthly mortgage repayment go up when the base rate goes up, and go down when the base rate goes down.

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