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Get help managing your buy-to-let mortgage

Property investment can help you build security for the future. However, unexpected financial difficulties can upset your plans. Whether you have one buy-to-let (BTL) property or many, we can help you get back in control with options that are tailored to your specific circumstances.

Is this your only residential property?

If your buy-to-let property is the only residential property you own in the State, it may be considered a primary residence for the purposes of dealing with your repayment difficulties. Find out more about Primary residence options.

How to get started

If you miss a mortgage repayment on your buy-to-let property, or you think you might miss one soon, follow these steps:

1

Speak to us

Please contact us at 0818 818 181 as soon as possible.

2

Complete the Income and Expenditure (I&E) form

Most buy-to-let mortgages are outside the Mortgage Arrears Resolution Process (MARP). This means you need to fill in an Income and Expenditure (I&E) form instead of an SFS. We need a full picture of your situation so we can help you find the best solution. You will find the form and useful information to help you fill it in on the Financial statement supports page.

3

Assessment

After we have received all your information, we’ll work out which options may be suitable in the long term and let you know our decision. If we cannot reach an agreement, we will guide you through the next steps, which may include the appointment of a receiver or a property sale.

Useful information

1. Important risks and consequences

It is important to understand the potential consequences if you do not deal with your arrears.

  • Repossession risk: Failing to meet repayments when they fall due, or failing to engage with us may put your mortgage property at risk of being repossessed.

  • Legal proceedings: We may be required to initiate legal proceedings if a resolution cannot be agreed or the agreement is broken. 

  • Additional charges: Please be aware that additional charges may be applied to your account because of arrears.

2. Contact details and support

  • Arrears Support Unit: You can contact our dedicated team for dealing with arrears cases at 0818 818 181.

  • MABS (Money Advice and Budgeting Service): A national, independent, and confidential service for people in financial difficulty. Call the MABS Helpline on 0818 07 2000.
  • Insolvency Service of Ireland (ISI): For information on debt solutions, including Personal Insolvency Arrangements (PIAs), visit the ISI website.
  • Reasonable living expenses: View the ISI guidance and calculator to help you maintain a reasonable standard of living while dealing with debt.
  • Central Credit Register (CCR): You can request a free report providing information on any outstanding loans you have from the CCR website.

3. Fees and Charges

  • Arrears charges: For a detailed breakdown of the charges that may be imposed on personal consumers in arrears, please refer to our Regulatory information page.

  • Legal proceedings: Where we begin legal proceedings for repossession of your property we are allowed to recover from you all the expenses that this involves. An estimated cost to you of such legal proceedings is between €10,000 and €15,000 and may be more depending on the circumstances.

4. Talk to us – or meet with us

 

  • Contact our team: Our Arrears Support Unit is available at 0818 818 181 to help you complete your financial statement or discuss your options.

  • Meetings: We can arrange for a member of our team to arrange an in-person meeting at:
    o    Our Shannon office 
    o    Online, or 
    o    Your home or another suitable location. 
    Visit our Personal visits page for more information and to register your request.

 

You can ask for a printed copy of this information at any time.

Need more information?

You can find more details in our FAQs for customers in financial difficulties – Buy-to-let (BTL) mortgages