Repossession Dos and Don’ts for Irish Homeowners
Falling behind on your mortgage can feel stressful and isolating but there are options available.
Whether you’re already in arrears or can see financial trouble on the horizon, there is a clear process in place that lenders must follow. This article explains the rights that you have, guidance on how to respond quickly to lenders, and information on seeking the right help when needed.
What Protections are in Place when dealing with repossession?
The Code of Conduct on Mortgage Arrears (CCMA), issued by the Central Bank of Ireland, provides strong protections for homeowners when their primary residence is at risk. This code lays out exactly how lenders must engage with borrowers that are in arrears or facing arrears.
The MARP Process
One key part of the CCMA is the Mortgage Arrears Resolution Process (MARP). This is a structured process that lenders must follow when working with you to find a solution. It covers everything from initial communication and the Standard Financial Statement (SFS) to proposing an Alternative Repayment Arrangement (ARA) or other resolution.
If no sustainable agreement can be reached, or if legal proceedings begin, then a PIA (Personal Insolvency Arrangement) may be a possible solution. A PIA is a formal agreement available through a PIP (Personal Insolvency Practitioner), where debts (including mortgage arrears) can be restructured in a way that is fair, affordable and manageable, allowing you to protect your home from repossession.
At McCambridge Duffy, our role as PIP is to explore these formal options with you, especially when repossession is being considered or threatened.
The Dos and Don’ts
| ✅ DO: Engage with your lender early As soon as you realise there’s a problem, make contact. Lenders are required to work with you to try and find a resolution through MARP, but they can only do that if you co-operate. | ❌ DON’T: Ignore their calls or letters Non-engagement can be considered as being uncooperative, which could limit your options. Stay in touch with your lender, even if you’re not sure what to do yet. |
| ✅ DO: Understand the MARP process The MARP process outlines how lenders must treat you; from timelines to communication to decision-making. You can find useful resources on your local Citizens Information website. | ❌ DON’T: Assume your lender has all the power You have rights under the CCMA. If you feel your lender is not following the MARP process properly, you can raise a complaint or appeal their decisions internally. |
| ✅ DO: Fill out the Standard Financial Statement (SFS) carefully The SFS provides a full picture of your financial situation. Completing it accurately is key to getting a workable resolution with your lender. If you’re unsure, ask for help, either from the lender, or contact our team at McCambridge Duffy for free advice. | ❌ DON’T: Ignore paperwork Lenders can’t help if you delay in completing relevant paperwork. Provide all requested documentation within the agreed timeframes or let them know if you need more time. |
| ✅ DO: Seek independent advice If repossession proceedings have started or if you’re stuck in an unaffordable agreement with your lender, it may be time to speak with a member of our advice team at McCambridge Duffy. We have several PIPs available, who will help you determine if a PIA is the right option to protect your family home. If PIA is a suitable option, you may also be entitled to free insolvency support under the Abhaile Scheme; a free service that entitles homeowners in arrears to professional advice from a PIP, solicitor or accountant. | ❌ DON’T: Think its too late for support If creditors have already started repossession proceedings against you, that doesn’t mean it’s too late for a PIA. A PIP can still assess your eligibility. A PIA may offer a way forward whilst protecting your home. |
When to Talk to a PIP
- If your lender says they can’t offer an affordable resolution
- If you’ve been told your home may be repossessed
- If you’re juggling multiple debts and can’t get on top of them
The earlier you act, the more choices you could have.
Get repossession advice
If you’d like to learn more about how a PIP could help you manage unaffordable debt, avoid repossession, or deal with outstanding mortgage arrears, contact us today. Call 01 539 57 90 or fill in the contact form on this page. Our team is here to provide free advice and guidance.
