Mortgage Arrears Resolution Process (MARP)

At Louth County Council 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.

Mortgage Arrears Resolution Process (MARP)

Louth County Council 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.

Arrears Support Unit:

Louth County Council have dedicated Mortgage Arrears Support Staff who are available to discuss any concerns you may have with meeting your mortgage repayments. Feel free to contact our staff member as follows to arrange an appointment to discuss your situation.

Alison Condra   Tel: 041 9876104   email: alison.condra@louthcoco.ie

In order to assess your situation we will ask you to submit an Application Form and a Standard Financial Statement to the Arrears Support Unit. In the Standard Financial Statement (SFA) you will need to set out your monthly income and bills. Your local MABS office can assist you with this. You will also be asked to provide back-up documents as proof of income/ expenditure.

Next Steps:

Once you have submitted your application the Local Authority will examine your specific arrears case. A letter will be issued to you detailing their decision and if your application is deemed to be successful, details of any new revised mortgage terms. If you are happy with this you can sign and return the form or alternatively contact the office to arrange a meeting to discuss. Warning, your home is at risk if you do not keep up repayments on your mortgage.

Appeal:

If you are not happy with the decision of the Arrears Support Unit you have the right to appeal to the Louth County Council Credit Committee.

A letter appealing the decision of the Arrears Support Unit must be sent within twenty working days to: Ms Bernadette Woods, Head of Finance, Louth County Council, Millennium Centre, Dundalk, Co. Louth. The Appeal will be assessed by the Credit Committee within twenty eight working days and you will be informed of their decision in writing.

Repossessions:

Repossession of a house is the least desirable option for the home owner and Louth County Council. However if the borrower fails to co-operate in the process of re-negotiating their loan this option may be exercised by the Council. In certain circumstances where the loan is unsuitable, voluntary surrender or repossession are the only options.

Please be advised that all costs associated with the process and any shortfall, should the proceeds of the sale not cover the amount of the loan outstanding, will fall on the borrower.

Download our booklet: Sorting it Out, A guide to resolving your mortgage arrears.