Insolvency Service of Ireland An independent government organisation.

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Insolvency Service of Ireland

Mortgage arrears and Repossession support

We are here to help

Being in debt is extremely stressful. But the ISI is here to help you find a solution. Even if you have received letters stating that your mortgage is unsustainable; or threatening repossession; or a court appearance date, it’s still not too late to sort out your finances and keep your home. First we recommend that you talk to a PIP.

Qualified professionals regulated by the ISI, PIPs have the relevant expertise to help you reach a permanent solution to your debt problems. They will advise you of all the products, options and solutions available to help you get you back on track financially. If you are in home mortgage arrears you could be eligible for a free PIP consultation under a state-funded scheme, called Abhaile.

Are you experiencing mortgage difficulties?

  • Keep communicating with your lender

    It can be tempting to ignore letters and phone calls from your lender, however in the long run it’s best to keep communicating with them. Lenders are obligated to engage with borrowers who are in arrears and repossession should always be a last resort.

  • Do not give back the keys

    Leaving the property and giving back the keys is not actually a solution, as you remain the legal owner of the property and are still liable to repay the mortgage until either repossession; voluntary sale or voluntary surrender of your property is completed.

  • Attend your court hearing

    If you have received a date to appear in court about a repossession, be sure to attend. Otherwise your side of the story will not be heard and you could miss an opportunity to have your case resolved. Plus in most cases, attending court and showing that you have made some effort to make repayments will reflect favourably on you.

  • Do not lose hope, contact a PIP today

    Did you know that legislation exists which allows the court to postpone repossession proceedings for up to two months to allow a person to explore the possibility of putting a debt solution in place such as a PIA. There is a whole range of solutions available for people experiencing mortgage difficulties. So contact a PIP today and you’ll soon find the right solution to get you back on track financially.

Questions and answers

When you miss mortgage repayments for some time your lender will apply to the Court to take possession of your property. If they are successful, the property is sold and the proceeds of the sale are offset against the outstanding balance owed. However, you may still owe the lender money for any shortfall (as well as owing other creditors) so you should explore all alternatives to repossession first.

Voluntary surrender is when you transfer ownership of your home to your lender for them to sell. Do not voluntarily surrender your home without seeking professional advice first. If your house is sold for less than the amount you owe, you will still owe your lender the balance.