Under the Central Bank of Ireland’s Code of Conduct on Mortgage Arrears (CCMA), PTSB is obligated to treat borrowers in or facing mortgage arrears, with due regard to the fact that each case of mortgage arrears is unique and needs to be considered on its own merits.
In addition, PTSB must handle all cases sympathetically and positively, with the objective at all times of assisting the borrower to meet his/her mortgage obligations.
To get started, in order to give us a clear picture of your current financial circumstances, we need you to complete and sign the Standard Financial Statement (SFS) either through our online web form or through our SFS PDF.
We have specially trained staff in our offices and branches, including specialised telephone contact agents, available today to help and support customers facing or in financial difficulties.
Your completed SFS will be assessed in our dedicated Assessment Unit with a view to providing you with alternative repayment arrangements to suit your individual circumstances.
For more information on completing the SFS read the PTSB SFS Guide (pdf, 252KB). In addition, you can read the Central Bank of Ireland’s Guide to completing a Standard Financial Statement (pdf, 1.60MB).
The easiest way to see where you stand financially is to gather all the relevant information and documents so that you can write down all the money you have coming in and going out each month and complete an SFS. (If your income is weekly, multiply it by 52 and divide the result by 12 to get your monthly income.)
In the SFS you will have to provide information on your current income, expenses and other amounts you owe and any assets you own. It is important that you include all of your basic living expenses. You are also encouraged to ensure that you are maximising your income, including what social welfare entitlements you may be eligible for.
The SFS is designed to assist you in setting out your current financial circumstances.
We consider that the completion of the SFS is a serious undertaking and we will work with you to ensure that the information is accurate, enabling us to work with you to determine the most appropriate and viable option in each particular customer case.
It is important to fill out the SFS fully and accurately and to provide any relevant documentation that we may need to assess your situation; we will only seek information that is relevant to this assessment.
Once your SFS Application is received in the Arrears Support Unit (ASU) (either by post or from the branch), dedicated professionals will assess your SFS and supporting documentation, taking the following factors into consideration when assessing your situation:
Once the assessment has been completed, we will inform you of the decision that has been made. Each of the possible alternative repayment arrangements has strict conditions for qualifying and the offer will vary from case to case. We may not always be in a position to offer you an arrangement - this will depend on your individual circumstances.
You may feel it appropriate to seek professional independent advice to assist you at this stage. We would also advise you to consider contacting the Money Advice & Budgeting Service (MABS). MABS also operate a service called Abhaile to help homeowners find a resolution to their home mortgage arrears. It provides vouchers for free financial and legal advice and help from experts, which are available through MABS.
If you give us your written consent, we will liaise with a third party, nominated by you, to act on your behalf.Alternative Repayment Arrangements Make a payment to your mortgage account