Ireland:

This section only applies to mortgage loans that are secured on your primary residence.

Our ultimate goal at BCMGlobal is to find a resolution to your financial difficulties. To do this, we follow the Mortgage Arrears Resolution Process (‘MARP’), ensuring that you are offered appropriate protection and support at all times.

This process only applies to loans which relate to your primary residence – typically your home or the only Irish property owned by you.

What is the MARP?
The Mortgage Arrears Resolution Process (‘MARP’) is a framework provided for by the Central Bank of Ireland under the Code of Conduct on Mortgage Arrears (‘CCMA’). It describes a process for dealing with customers who are currently in arrears with their mortgage repayments or who may potentially fall into arrears.

The MARP aims to engage with, support and find a resolution for such customers. It also places obligations on you, our customer, to co-operate with us in this process. If you don’t work with us, there is a danger that you will be deemed not co-operating and will lose the protections afforded to you under the MARP.

BCMGlobal has prepared a booklet which takes you through the MARP process in detail. A copy of the MARP booklet is available here.

There are four steps to the MARP:

Step 1 – Communication

Communication is the most important step in the MARP. If you’re worried that you won’t be able to meet your next repayment or if you find yourself behind with your mortgage repayments, please contact our Arrears Support Unit (‘ASU’) at the details below:

Call: +353 (0)1 654 8800 (Mon-Fri 9am to 5.30pm excluding bank holidays)

Email: [email protected]

It would be beneficial if you could have your account details to hand when contacting us.

Once you get in touch, our ASU can work with you to explore the different options available to you.

Under CCMA, we are required to send letters to all customers in arrears, detailing the amount of arrears currently outstanding and other key information related to yourmortgage account. The letter will also detail the MARP and the steps to be followed by you.

If you receive any correspondence from us, it is important that you respond promptly so that we can work effectively with you.

It is very important that you co-operate with us throughout this process as not co-operating may result in you losing the protections afforded by the MARP.

Step 2 – Financial information

To ensure we have a clear picture of your financial situation, we will ask you to complete a form called a Standard Financial Statement (‘SFS’). The SFS details key information such as income, expenditure and outstanding debts, and it will allow our ASU to fully understand your current position. It is therefore important that you complete the SFS fully, honestly and accurately, and that all relevant disclosures are made.

We will request documentation from you to support the information provided in the SFS,such as copies of payslips, bank account statements and other relevant information.

If you need help completing the SFS, call our ASU on +353 (0)1 654 8800. They will be happy to talk you through any queries you might have.

You may also wish to seek independent advice from the Money and Budgeting Advice Service (‘MABS’) or from an independent financial advisor.

Step 3 – Assessment

Our ASU will assess your completed SFS and determine whether any alternative repayment options are available to you. As part of this step, we will also consider several key factors, including:

• Your personal circumstances
• Your overall personal debt
• The information provided in your completed SFS
• Your current and previous repayment capacity
• Any other relevant information

We may also be in touch with you during this stage if any information requires clarification.

Step 4 – Resolution

Having completed our assessment, we will then determine whether a particular alternative repayment option would be appropriate.

While we can’t guarantee a specific outcome, we are fully committed to finding a resolution that will work for you and your circumstances. Some of the alternative repayment arrangements (ARA) BCMGlobal will consider include:

• Interest only
• Reduced payments
• Arrears capitalisation
• Fixed repayment
• Term extension
• Moratorium
• Split mortgage.

Other options available to you:

• Voluntary Surrender
• Mortgage to Rent
• Voluntary Sale of your Property.

Each option is explained in more depth in our MARP booklet. An ARA being offered is subject to your individual circumstances and our assessment of your SFS. As such, some options may not be suitable for your particular situation.

Appeals

You have the right to appeal our decision where:

• You are not willing to enter into the alternative arrangement offered by BCMGlobal;
• BCMGlobal has declined to offer you an alternative repayment arrangement;
• BCMGlobal has classified you as not co-operating

You must submit your appeal in writing within 20 business days of receipt of our decision.

All appeal letters should be sent to:

Customer Appeals Board,
c/o Customer Relations Team,
BCMGlobal
Block C, Maynooth Business Campus
Maynooth
Co. Kildare,
W23 F854

Guidance, Booklets & Forms

BCMGlobal has a range of guidance, booklets and forms available to assist you. You can find this here.

Change of Address / Contact Details

Please use this form to notify BCMGlobal of any changes to your address or contact details.

Please also provide one of the following

• A utility bill – electricity, gas, or water bill
• Current statement of account – statement from a regulated credit or financial institution
• Documentation issued by Dept of Social Protection or Revenue
• Current household or motor insurance certificate or renewal notice

MARP Booklet

This booklet summarises the MARP process for customers in financial difficulties that apply to loans relating to your primary residence – typically your home or your only Irish property.

Standard Financial Statement (‘SFS’)

The SFS is a form required as part of the MARP, and details key information such as income, expenditure and outstanding debts. A blank version of the SFS can be downloaded here.

A Consumer Guide to Completing the Standard Financial Statement (SFS) SFS can be downloaded here.

Should you need assistance in understanding any of this guidance, please do not hesitate to contact us.

Is it possible to change the type of interest rate or seek a lower interest rate?

BCMGlobal recommend that you consider your mortgage and interest rate options on a regular basis, which may result in savings for you. As we are a credit servicer, we do not offer new lending or interest rate products so we are unable to provide options in this regard. You can find more information on mortgage loans and interest rate options on the Competition and Consumer Protection Commission and Banking & Payments Federation Ireland websites and additional information here.

If you have any queries in relation to your mortgage, please contact us on +353 (0)1 654 8800

Information Booklet for SMEs

This booklet summarises the process that applies to SMEs that are facing financial difficulties.

New Variable Rate Policy Statements

• General Statement
• Havbell DAC
• Seaconview
• Link Financial
• Promontoria Oyster DAC Policy

WARNINGS:

WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT

WARNING: If you do not meet the repayments on your credit agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

If you have a variable rate mortgage:

WARNING: THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME.

If you have an endowment loan:

WARNING: There is no guarantee that the proceeds of the insurance policy will be sufficient to repay the loan in full when it becomes due for repayment.

If you have an interest-only arrangement:

WARNING: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period.

If you have a debt consolidation arrangement:

WARNING: This new loan may take longer to pay off than your previous loans. This means you pay more than if you paid over a shorter term.