Worried about Payments FAQs

Worried about Payments

I am worried I am not going to be able to make a payment

If you don’t think you can make a payment you should call us immediately on 0818 251 008 and talk to us. We have helped lots of customers like you with their payments.
I had a letter from the Bank saying I was in arrears, what does arrears mean?

Arrears is the money you owe us because you didn’t make a payment on time. For example, by the amount of the missed payment. You may also have to pay additional charges.
How do you tell me if I miss a payment?

If you miss a mortgage payment your mortgage will go into arrears. We will contact you by letter, phone or text to tell you about your options.
I can’t afford a financial advisor, where can I get advice?

There are a number of free and independent support services that can assist you. See here.
What is the MARP process?
MARP (Mortgage Arrears Resolution Process) is a system devised by the Central Bank of Ireland outlining how your lender must treat you if you are in mortgage arrears or facing arrears.

It has four components:
- Communication - Sets out how we have to communicate with you.
- Financial Information - You complete a Standard Financial Statement (SFS) telling us your financial information
- Assessment - We assess your case and decide whether to offer you an alternative payment arrangement on your mortgage.
- Resolution - We either offer you a payment arrangement or if we don’t, we must explain the reasons why. You can appeal this decision to Mortgage Appeals Board, and if you are still not satisfied to the Financial Services and Pensions Ombudsman

Missed a Payment

I have already missed a payment what can I do?

You should call one of our experts immediately with a debit card to make a payment on. We have a range of options for helping you make your payments.

If you are finding it hard to pay your mortgage, please visit to https://aib.ie/worried-about-payments.
It says my mortgage is a secured loan, does this mean I could lose my home if I don’t pay?

A secured loan, like your mortgage, is where money is borrowed against an asset, like your home. So if you miss payments on your mortgage then your home could be at risk.
How does missing payments affect my credit rating?

If you have missed any payments this may affect whether you get approval for more credit. When you miss payments on your loan this is reported to the Central Credit Register (CCR). They hold information about you and your loans on an individual credit report. If you apply for another loan, the lender will use the CCR report to assess your application.
Are there other ways I can make a repayment?

Calling us on 0818 251 008 is normally the quickest and easiest way to make payments, but you can also make a payment using internet banking, or pay in a branch.
I have missed a repayment. Can I pay a bit more every month to clear what I owe?

For customers in arrears, we can assess your circumstances and find an arrangement that suits your needs. In some cases, there is an arrangement for customers with small arrears to make extra payments on top of their normal monthly payments. This is called the Capital Interest Plus Arrangement (CIPA). This means you would pay your normal monthly payment plus an extra amount agreed with us.
Can I pay by credit card?

We cannot take payment from a credit card. You can pay over the phone by using a debit card.
I can afford my mortgage repayment but want a flexible payment option?

If you can afford to pay your mortgage but feel you need to take a break from repayments for a while, to cover maternity leave or home property improvements for example, we’ll look at that for you. Talk to us at your local branch, online at Flexible payment options and over the phone at 0818 251 008.

If you are considering a repayment break because you are finding it hard to pay your mortgage, please visit to https://aib.ie/worried-about-payments.
Can I change the payment date for my mortgage account?

You can change the date on which your mortgage is paid by completing the customer information and section 1 on the Mortgage Amendment form

Seeking Support

I want to receive correspondence from you about my mortgage, but I live at a different address to where you send correspondence.

We send letters and statements about your mortgage to the correspondence address provided for the mortgage account. If you want us to send copies of these to a different address we can arrange that for you.

We will need to confirm that address first for security reasons. Please contact us on 0818 251 008 to discuss what information we need to confirm your address.
What happens when I call?

When you call us we will need to ask you a few questions to make sure you are the authorised account holder. After that one of our experts will listen carefully to your enquiry, and ask you any questions we need to make sure we get it right. After that we will talk through the next steps with you.
Can someone else contact you about my payments?

We can only talk to someone you have authorised to talk to us by requesting this in writing and signed by all loan account holders. If we do not have this signed written instruction then we can’t talk to anyone else about your account. This third party advisor can be a friend or relative, but is most often a financial advisor. You can call us on 0818 251 008 to discuss further.

Filling in the forms

What forms do I need to fill in to help me with my repayments?

If you are finding it hard to pay your mortgage and you want us to review your mortgage repayments, you will need to fill in a Standard Financial Statement (SFS) here.

If you can afford to pay your mortgage but feel you need to take a break from repayments for a while, to cover maternity leave or home property improvements for example, talk to us at your local branch, online at Flexible payment options and over the phone at 0818 251 008.
How long does it take to do a Standard Financial Statement over the phone?

Generally, for a single mortgage holder, it can take up to 44 minutes. However, many of our customers find it quicker than this.
I can’t afford to pay anything so why do I need to fill out documents?

We have a range of solutions to suit most financial circumstances. To understand which solution might suits you best, we need you to provide us with some information.
What happens when I complete a SFS?

Once we receive a completed SFS and the supporting paperwork we review the application and will contact you if there is anything missing. When we have finished processing the application, we will then contact you with our final decision.