Local authority mortgage arrears - help is available

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The most important step any household in mortgage arrears can take is to engage early with the arrears support unit of the local authority.  Solutions are available and advice should be sought as early as possible.

The Central Bank's Code of Conduct on Mortgage Arrears requires all mortgage lenders to ensure that it has in place a Mortgage Arrears Resolution Process (MARP) as a framework for handling mortgage arrears cases.

The department published guidelines for local authorities in June 2014 entitled "Dealing with Mortgage Arrears - A Guide for Local Authorities".

A range of alternative repayment arrangements are available to local authority borrowers in arrears under the MARP.  The Local Authority Mortgage to Rent (LAMTR) scheme may provide a solution for some borrowers.

In cases of acute mortgage distress, homeowners also have the option of seeking to avail of the legal process now also in place to deal with personal insolvency.  Further information on this process is available from the Insolvency Service of Ireland.

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