Mortgage Payment Worries

Life is full of ups and downs and sometimes managing your finances can be a struggle. That includes keeping up the payments on your mortgage. So, if you’re worried, we’re here to help.

Life is full of ups and downs and sometimes managing your finances can be a struggle. That includes keeping up the payments on your mortgage. So, if you’re worried, we’re here to help.

If you’re still maintaining your payments but are concerned about the future we’ve got some great guides and tools that can help you stay on track. You can find links to money and debt support agency web sites here too. Or you can watch our Money Worries video for tips and advice.

If you’ve already missed a mortgage payment, or you’re concerned that you may miss one in the future, it’s important that you let us know. Talking to us about your financial situation makes it easier for us to help you. You can call us on 0800 169 9722*. We will be able to help you more easily if you have a note of your key income and expenditure to hand. This includes things such as household bills and personal expenses including any other secured/unsecured debts (loans/credit cards/store cards). We may ask you to complete our Income & Expenditure form so we can get a better understanding of your current finances.

If you would like someone else to talk to us on your behalf you will need to complete our Third Party Authority form. There is more information in our Third party authority section.

What else should I do in the meantime?

  • If somebody else is equally responsible for the mortgage payments, or guaranteeing the mortgage, you should tell them what’s happening
  • If you have mortgage payment protection insurance, you should check whether it could help with mortgage payments
  • You may want to complete a budget planner which can help you better understand your circumstances and will help you have all the information you might need to hand
  • It’s also worth checking whether you’re eligible for state benefits by contacting the Department for Work and Pensions.

Once you contact us and we have talked to you about your situation, we will:

  • Explore practical solutions that you can afford
  • Tell you about free debt advice organisations that you can speak to if you need more help.
  • Arrange a realistic and affordable payment plan with you that takes into account your financial circumstances and our responsibilities as a lender
  • If we’re not able to offer you any of the options above, we’ll tell you why
  • If we’re able to offer one or more options, we’ll explain how each option would work and give you time to consider it
  • You’ll receive ongoing support with regular reviews to ensure any payment plan remains affordable.

To help us get a better understanding of your circumstances, we may ask you to complete our income and expenditure form.

*Calls are recorded for training and monitoring purposes. Lines are open 9am– 5pm Monday to Friday. 03 calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.


Granting third party authority

There may be times when you need support to manage your mortgage. You may be struggling to talk to someone, or your circumstances may have changed and you need help managing your finances for a while.

If you want us to talk to someone else regarding your mortgage, we’re happy to do this – you could choose a professional, a charity, a family member or a friend to help. You’ll just need to give us authority to speak to them – this is called ‘granting third party authority’.

The person you choose can talk to us about your mortgage, but won’t be able to make any changes to your mortgage. If you’d like someone to make changes to your mortgage on your behalf you would need a power of attorney rather than a third party authority.

Once you’ve decided who you’d like to help you manage your mortgage simply let us know in one of the following ways:

  1. Logon to your hub and complete the Third Party Authority Form
  2. Download the form and send it to:
    Bank of Ireland
    Mortgage Services
    PO Box 3191
    Bristol
    BS1 9HY
    If you haven’t got a printer, ask us to send one to you.
  3. Call us on 0345 300 8000* and give us your authority over the phone.

Don’t forget we’ll need authority from everyone named on the mortgage – to make things easier each named person can let us know in the most suitable way for them – via the hub, post or phone.

We’ll get in touch with the third party once we receive the form.

*Calls are recorded for training and monitoring purposes. Lines are open 9am– 5pm Monday to Friday. 03 calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.

Worried about keeping up with repayments on your mortgage? The following agencies can help and have lots of free guides full of information, tips and advice.

If you have debt with more than one organisation
Step Change is a registered debt charity, dedicated to assisting and supporting people in financial difficulty by providing debt counselling advice.
Payplan is a free debt advice and debt management planning service.

If you want general advice
Citizens Advice Bureau provide information and advice on consumer rights – including benefits, housing, employment, debt, consumer and legal issues.
Direct.Gov is the government website providing information and advice on housing, financial support, benefits, debt management and government schemes.
Money Helper (was Money Advice Service) is a government service funded by a levy on the financial services industry. The service provides clear, unbiased money advice to help people make informed choices about their finances.
National Debtline is a charity providing both online and telephone debt advice.
Shelter is a charity that works to alleviate the distress caused by homelessness and bad housing. Shelter cannot house people, but they do give advice and information to people in housing need.
The National Homelessness Advice Service has a guide, Mortgage payment problems

  • What should I do if I’m struggling to make my payments?
    If you’re still maintaining your payments but are concerned about the future we’ve got some great guides and tools that can help you stay on track. You can find links to money and debt support agency web sites here too. Or you can watch our Money worries video for tips and advice.

    If you’ve already missed a mortgage payment, or you’re concerned that you may miss one in the future, it’s important that you let us know. Talking to us about your financial situation makes it easier for us to help you. You can call us on 0800 169 9722*. We will be able to help you more easily if you have a note of your key income and expenditure to hand. This includes things such as household bills and personal expenses including any other secured/unsecured debts (loans/credit cards/store cards).

  • Who should I talk to about my money worries?
    If you are worried about keeping up with repayments on your mortgage, many agencies offer free advice and have free guides full of information, tips and advice.

    If you’ve already missed a mortgage payment, or you’re concerned that you may miss one in the future, it’s important that you let us know. Talking to us about your financial situation makes it easier for us to help you. You can call us on 0800 169 9722*. We will be able to help you more easily if you have a note of your key income and expenditure to hand. This includes things such as household bills and personal expenses including any other secured/unsecured debts (loans/credit cards/store cards).

  • Are there other things I should do if I’m worried about paying my mortgage?
    • If somebody else is equally responsible for the mortgage payments, or guaranteeing the mortgage, you should tell them what’s happening
    • If you have mortgage payment protection insurance, you should check whether it could help with mortgage payments
    • It’s also worth checking whether you’re eligible for state benefits by contacting the Department for Work and Pensions.
  • If I’m in arrears, will I incur additional fees?
    There may be a charge for administrative and legal costs. We’ll let you know about any charges or costs that you’ll need to pay. Please see our Tariff of Mortgage Charges for more details. Contacting us early and staying in contact may help you avoid some fees.
  • What will happen if we can’t agree a solution?
    If we can’t agree on what to do next over the phone, then we may send a Field Agent out to meet with you and discuss your situation. This service will be charged to your mortgage account.
    Depending on the severity of the situation, we may start proceedings to repossess your property through the courts.
  • If we can’t agree a solution what does that mean?
    The mortgage loan is secured on your home or property. This means it is at risk if you do not keep up with the monthly mortgage payments. If this happens, it may mean going to court to start court proceedings to repossess your home or property. Starting court proceedings does not necessarily mean that we’ll repossess your property. We’ll keep trying to resolve the matter with you. Repossession is absolutely a last resort.
  • What should I do if you start proceedings to repossess?
    We strongly recommend that you attend the court and that you seek independent debt advice.
  • What happens if my home or property is repossessed?
    Before we repossess your home or property, we’ll give you information about getting in touch with your local authority to see if they can find you somewhere else to live.

    When it comes to the sale, we’ll sell the property as soon as possible for the best price we can reasonably get. We’ll also give you reasonable time to take your possessions from your home. The money raised from selling your home or property will be used to pay your mortgage and any other loans secured on it. If there’s any money left over, we’ll pay it to you.

  • If the sale doesn’t raise enough money to pay the entire debt, will I need to pay the shortfall?
    Yes, you’ll still owe us the shortfall. We’ll let you know the amount as soon as possible. If you bought your home with other borrowers, each of you is responsible for all of the money borrowed. This is true even if you normally only pay part of the mortgage.

    We’ll take into account your income and outgoings when we arrange a payment plan with you for the shortfall, and you might have to pay the court costs. Not paying off the shortfall could affect your ability to obtain credit in the future.

  • I want to make a complaint as I feel I‘ve been unfairly treated, how do I do this?
    If you believe you’ve been unfairly treated, you can make a complaint. If you’ve been unhappy with our service, please tell us so we can address your concerns and improve our service.

*Calls are recorded for training and monitoring purposes. Lines are open 9am– 5pm Monday to Friday. 03 calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.

  • What happens if there’s a change to the Bank of England Base Rate (BBR)?

    The Bank of England have announced that the BBR will increase to 2.25% from 22nd September 2022.

    The effect the change in the BBR will have on you depends on what type of mortgage you have:

    If you have a tracker mortgage: A tracker mortgage tracks the Bank of England Base Rate and therefore the increase in the BBR will directly affect you and your mortgage payment. This change will be reflected in your monthly mortgage payments from 1st October 2022. Any payments made before October will remain at your current rate.

    If you have a fixed rate mortgage: If you have a fixed rate mortgage, the fixed rate is guaranteed until the end of the promotional period, but the payments due after this point could increase or decrease.

    You can find out what type of mortgage you have and when your promotional period will end (if applicable) from your hub or latest Annual Mortgage Statement.

  • Will your Standard Variable Rate also change?

    A Standard Variable Rate (SVR) is a variable rate of interest set by the lender. Many lenders adjust their SVR when the Bank of England Base Rate changes, however the two are not directly linked and it’s up to the lender to make a decision on their SVR. We’ve decided to increase our SVR to 5.59% from 5.24%.

  • What if I have a SVR mortgage?

    If you have a standard variable rate mortgage: The increase in our SVR will directly affect you and your mortgage payment. This change will be reflected in your monthly mortgage payments from 1st October 2022. Any payments made before October will remain at your current rate.

    You can find out what type of mortgage you have and when your promotional period will end (if applicable) from your hub or latest Annual Mortgage Statement.

  • When will you tell me what my new monthly mortgage payment will be?

    If you have a mortgage linked to the BBR, you should receive a letter within the coming days confirming how much your new monthly payment will be from 1st October 2022.

    If you have a mortgage linked to our SVR, we’ll write to you in September confirming how much your new monthly payment will be from 1st October 2022.

    Please note that payment dates may vary if you have multiple mortgages.

  • Do I need to do anything?

    If you pay by Direct Debit: You don’t need to do anything — we’ll automatically update the amount we collect.

    If you pay by Standing Order: Once you’ve had our letter telling you your new monthly payment and when that takes effect, please contact your bank to alter the amount you send us each month. Make sure the instruction to your bank has the correct reference number which is shown on the letter we’ve sent you.

    If you pay by Debit/Credit Card online: Once you‘ve had our letter telling you your new monthly payment and the date it takes effect you should alter the amount you pay by card each month. We recommend you set up a Direct Debit to make your monthly payment and can send you a mandate to complete and return.

  • I can’t afford an increase in my payments– what should I do?
    If you think you may struggle to afford your new payments, please get in touch with us as soon as you can and we’ll do our best to help find a solution. You can also find useful information on organisations that may be able to provide you with free, confidential and impartial financial advice here.