At AIB we know that some of our customers are experiencing financial difficulties. You may be worried about your ability to keep up with your mortgage repayments while living on a reduced income. If you are having difficulty meeting your mortgage repayments or anticipate having difficulty, we would like to work with you to find a way to help you manage your situation.
We have dedicated staff in every branch who are available to discuss any concerns you may have with meeting your mortgage repayments.
There is also a dedicated helpline available if you would like to discuss any aspect of your mortgage account - telephone 1890 252 008.
Under the Central Bank's Code of Conduct on Mortgage Arrears, AIB has introduced a five step process called the Mortgage Arrears Resolution Process or MARP to help support mortgage customers who are in arrears or are at risk of going into arrears. This also applies to customers where an alternative repayment arrangement, already in place, breaks down or expires. The protection of the Code applies to your residential property, which you occupy as your family home or your only residential property in the state that you may not currently reside in.
You can download the AIB MARP Guide here which explains the MARP five step process in more detail.
As part of the MARP, you are obliged to complete a Standard Financial Statement (SFS) form. This form is designed to help you set out your current financial circumstances. The SFS will help us to get a better understanding of your financial situation and allow us to identify the best approach in helping you deal with your financial difficulties. The completed SFS should be sent to your branch Mortgage Co-ordinator, along with any additional relevant documentation. Your Mortgage Co-ordinator will provide assistance in completing the SFS if required.
You can download the SFS here together with the Central Bank consumer guide to assist you in completing the form.
A website - www.keepingyourhome.ie - is provided by the Citizens Information Board and the Money Advice and Budgeting Service (MABS). Keepingyourhome.ie aims to provide comprehensive information on the services and entitlements available to mortgage borrowers who may be experiencing difficulties making mortgage repayments.
You may be worried about repayments on your personal debts. There are options available and this page may help you to manage your AIB borrowings through difficult times.
Where repayments are not made on a mortgage loan in accordance with the terms of the loan agreement, such arrears may attract a surcharge of 0.5% per month (6% per year) calculated on the amount of the default for the period of the default. Surcharge is applied in addition to the interest rate applicable to the borrowing. Please note that where the mortgage is for your primary residence (as defined by the Central Bank's Code of Conduct on Mortgage Arrears 2010) surcharge interest will not be applied, nor shall charges for duplicate statements or duplicate certificates of interest once you co-operate fully with the Mortgage Arrears Resolution Process.