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.

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.

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

You may decide that you need support to manage your mortgage and ask a third party to help you. If you want us to talk to someone else regarding your circumstances, we’re happy to do this as long as you’ve provided us with authorisation to speak to them. You could choose a professional, a charity, a family member or a friend to help. To do this, you’ll just need to complete our Third Party Authority form.

Once you’ve completed the form and gained the consent of all persons named on the mortgage (there’s space on the form to do this) post it to us at the address below:
Bank of Ireland
Mortgage Debt Management
PO Box 3191
Bristol
BS1 9HY

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

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.