On 14 November 2025, PTSB announced that it had entered into an agreement to transfer a number of mortgage loans to Mars Capital Finance Ireland DAC, trading as Mars Capital (“Mars Capital”). If your loan was included in this transaction, a letter was sent to you in November 2025 to confirm this. The transfer to Mars Capital has now been completed and another letter was issued to borrowers included in the transfer after 30 January 2026 to outline what this means and identify any action that needs to be taken. If your loan has transferred to Mars Capital and you have questions in relation to the transfer, our Frequently Asked Questions (FAQs) below may be of assistance.
Yes. The transfer of your loan is legally permitted. Loans can be transferred irrespective of loan type or performance and indeed transfers such as this are commonplace in Ireland and internationally.
The loan was included in the sale as it was classified as a non-performing loan in line with regulatory guidelines and definitions for one or more of the following reasons:
The transfer has been undertaken for commercial reasons. Your loan and its contractual position are unaffected by the transfer to Mars Capital, and all terms and conditions have transferred with your loan.
No, the transfer of your Loan is unconnected with the recent announcement by the Board of Permanent TSB Group Holdings plc of the commencement of a Formal Sale Process (FSP). There is no impact to customers as a result of the FSP announcement, and PTSB’s operations, products and services are unaffected by the FSP.
This transfer of loans includes loans that are being repaid on an interest only or part-capital and interest basis. Whilst these loans are currently meeting their monthly payment terms, there is a significant risk that the outstanding capital balance of loans in this cohort may not be repaid in full when the loan reaches maturity. The uncertainty on how the capital balance will be repaid has resulted in the loan being classified as a non-performing loan and this is why such loans are included in this transfer.
No. The transfer completed effective 30 January 2026. However, any loan paid off in full prior to 30 January 2026 was not transferred to Mars Capital.
The transfer of your loan to Mars Capital completed on 30 January 2026.
Mars Capital is now responsible for servicing your loan and you should contact them if you have any queries.
Mars Capital can be contacted on 1800 816 121 or +353 1 526 8580 (from abroad). Their lines are open from Monday to Friday, 9am to 5:30pm (excluding public holidays).
You should continue to maintain repayments as per the agreed terms and conditions of your loan.
Your monthly payment continues in line with the interest rate applicable to your loan at the point of transfer, and as per the agreed terms and conditions applicable to your loan.
No, your current mortgage balance, together with any arrears balance, is owed to Mars Capital. Your prevailing terms and conditions have not been affected by the transfer.
If you pay your loan by Direct Debit, there is no action required as existing Direct Debits transferred to Mars Capital. If you pay your loan by another means of payment other than Direct Debit, you should contact Mars Capital 1800 816 121 or +353 1 526 8580 (from abroad). Their lines are open from Monday to Friday, 9am to 5:30pm (excluding public holidays).
Your tracker rate has not been affected by the transfer to Mars Capital.
Your variable rate loan with the Bank has transferred to Mars Capital as a variable rate loan. The variable interest rate that initially applies in Mars Capital has been set equal to the variable interest rate that applied to your account in the Bank immediately prior to the loan transfer. Mars Capital may subsequently vary the interest rate according to their interest rate policy. In accordance with regulatory requirements, Mars Capital will provide you with 30 days’ notice for any variable interest rate change.
At present, fixed interest rate options are not available with Mars Capital.
If you continue to repay your loan by interest only or part capital and interest repayments, you will owe an outstanding capital balance at maturity or expiry of your loan term. The transfer to Mars Capital does not change this.
It is important that you consider how you will you repay this capital amount in full by the maturity date of your loan.
If you would like to discuss how to plan for repayment of this capital amount, you can contact Mars Capital 1800 816 121 or +353 1 526 8580 (from abroad). Their lines are open from Monday to Friday, 9am to 5:30pm (excluding public holidays).
The terms of any Alternative Repayment Arrangement (ARA) (e.g., a part capital and interest or term extension agreement) as agreed with the Bank are unaffected by this transfer and continue with Mars Capital.
If your ARA is scheduled for review, Mars Capital will engage with you to review your individual situation to ascertain whether your circumstances have improved, dis-improved, or remain the same. Mars Capital will work with you to identify, where possible, the best sustainable long-term solution to repay the capital balance due on your loan in a way that’s right for your situation.
The transfer does not change the terms and conditions of your loan, or any ARA agreed with the Bank.
Any repayment plan agreed with the Bank continues with Mars Capital subject to the terms and timeline of the plan being met. When your loan is due for your next periodic review, Mars Capital will engage with you to review your individual situation and assess your ability to repay the capital balance due on your loan.
Following the transfer of your loan to Mars Capital, PTSB mortgage products, services and interest rates will no longer be applicable to your loan and you will not be able to avail of these products, services or interest rates (with the exception of offers received by customers in respect of pending fixed rate maturities). For clarity, the terms and conditions of your loan will remain unchanged by the Mars Capital transfer.
For clarity, your access to non-mortgage loan products and services, e.g., current accounts, is unchanged following the transfer to Mars Capital.
Yes, it should be noted that while we cannot comment on the process to switch your mortgage to another bank, any such application to switch back to PTSB will be reviewed in line with the Bank’s normal mortgage application/switching processes, including our credit policy. Key considerations in the Bank’s assessment of your mortgage application will include a demonstration of your repayment capacity and the ability/willingness to repay the loan which is partly informed by past repayment performance.
If you pay any of your insurance premiums as part of your monthly mortgage repayment you will have received a letter on 28 November 2025 and a reminder on 14 January 2026 asking you to contact the relevant Insurer (Allianz or Irish Life) to change the method of payment of your insurance and pay the insurer directly. For AXA repayment protection policy holders, we requested you contact PTSB directly.
If you have not taken this action your cover will lapse, meaning that you will no longer have cover.
In respect of your Mortgage Repayment Protection Policy, if your policy lapses, you will not be able to put another policy in place.
In respect of your Property Insurance Policy and your Mortgage Protection Plan, if your policy lapses and you need to put new insurance cover in place, a new premium could be higher than the current premium.
If you have any queries in relation to the change in payment method for your insurance policy, please contact:
Yes. If you have more than one mortgage loan with the Bank, it is possible that one or more of these mortgage loans is not included in the transfer to Mars Capital.
Your complaint has not been impacted by the loan transfer. In the event that we were unable to resolve your complaint before the transfer to Mars Capital completed, we will continue to explore all resolution options in an effort to resolve your complaint irrespective of the transfer of your loan. This commitment extends to any complaints being adjudicated by the Financial Services and Pensions Ombudsman.
Read more about our complaints process.
The transfer of your loan has no impact on any other products or services you have with PTSB, including current accounts and deposit savings.
No. Availing of a COVID-19 mortgage payment break had no impact on the inclusion of your loan in the transfer to Mars Capital.
If you would like to speak to someone, please contact Mars Capital 1800 816 121 or +353 1 526 8580 (from abroad). Their lines are open from Monday to Friday, 9am to 5:30pm (excluding public holidays).
Mars Capital will be able to assist you with any queries, they can be contacted on 1800 816 121 or +353 1 526 8580 (from abroad). Their lines are open from Monday to Friday, 9am to 5:30pm (excluding public holidays).
Bankruptcy legislation continues to apply to any loan that is sold or transferred. Mars Capital is a Credit Servicing Firm regulated by the Central Bank of Ireland and is bound by the same regulations that currently apply to the Bank and is required to comply with all applicable legislation.
You should continue to maintain repayments as per the agreed terms and conditions of your bankruptcy after the transfer to Mars Capital completes. If you require information regarding the terms of your bankruptcy, please contact the Insolvency Service of Ireland.
Personal Insolvency legislation continues to apply to any loan that is sold or transferred. Mars Capital is a Credit Servicing Firm regulated by the Central Bank of Ireland and is bound by the same regulations that currently apply to the Bank and is required to comply with the applicable legislation.
You should continue to maintain repayments as per the agreed terms and conditions of your Insolvency Arrangement after the transfer to Mars Capital. If you require information regarding terms of your Personal Insolvency/Debt Settlement Arrangement, please contact your own Personal Insolvency Practitioner or alternatively the Insolvency Service of Ireland.
Yes, the terms of any restructure agreement or Alternative Repayment Arrangement as agreed with the Bank are unaffected by this transfer and continue with Mars Capital where you continue to maintain payments in line with the agreement.
Mars Capital is regulated by the Central Bank of Ireland and all statutory codes of conduct relevant to your loan will continue to apply, meaning that all existing consumer protections remain in place following the transfer.
Mars Capital Finance Ireland DAC, trading as Mars Capital (“Mars Capital”) is a regulated financial services provider, authorised by the Central Bank of Ireland under the Central Bank Act 1997 as a Credit Servicing Firm. Mars Capital is authorised to provide credit servicing in Ireland.
Mars Capital employs over 300 people in Ireland, operating from their head office in Dublin city centre.
Yes, all customers continue to be covered by the protections of the Central Bank’s consumer protection codes and regulations after the transfer to Mars Capital.
Like the Bank, Mars Capital is regulated by the Central Bank of Ireland and is required to comply with consumer protection legislation, including Consumer Protection Code (CPC) and the Code of Conduct for Mortgage Arrears (CCMA). All existing consumer protections applicable to your loan remain in place.
No. Mars Capital cannot unilaterally change the agreed terms and conditions of your loan.
If you miss a payment or believe that you are at risk of missing a payment after your loan has transferred to Mars Capital, you should engage with Mars Capital at the earliest opportunity to let them know about your financial circumstances.
Mars Capital will work with you to assess your circumstances and try to find a sustainable solution for you.
You can contact Mars Capital on 1800 816 121 or +353 1 526 8580 (from abroad). Their lines are open from Monday to Friday, 9am to 5:30pm (excluding public holidays).
The mortgage deed and title deeds of your property have been transferred to Mars Capital.
In the event that a solicitor acting for you requires the title deeds to your property, you can instruct your solicitor to contact Mars Capital 1800 816 121 or +353 1 526 8580 (from abroad). Their lines are open from Monday to Friday, 9am to 5:30pm (excluding public holidays).
In the event that the title deeds are currently with a solicitor acting for you, Mars Capital will be in contact with them to complete the appropriate documentation so that they can continue to hold the title deeds for the necessary period.
On the full repayment of your loan, Mars Capital will look to you or your solicitor for instructions as to where the title deeds should be sent.
As part of the transfer, under our legitimate interest, all relevant details relating to your loan, including your personal data, have been transferred to Mars Capital.
PTSB process your personal data during a loan portfolio sale as part of our legitimate interests as a bank. This allows us to manage and transfer the loan responsibly, meet legal and regulatory requirements, and ensure the process runs smoothly, while protecting your rights and privacy.
These details will be used by Mars Capital for the continued administration of your loan and for related legal and regulatory purposes. Please refer to the Mars Capital Data Protection Notice.
PTSB will retain and process your loan details, including personal data after the transfer date as required by law and regulation, including for compliance with the Central Bank of Ireland and any necessary interactions with Mars Capital.
A detailed explanation of how your personal data is processed is provided in our Data Protection Notice. This provides additional information about how we collect, store and use your personal data.
