Mortgage Arrears Resolution Process (MARP)
Given the current economic environment, it is an unfortunate fact of life that there are many property owners in difficulty with their mortgage. In most cases customers make every effort to avoid their mortgage falling into arrears.
The primary responsibility lies with the Borrower(s) to advise the Bank of any problems with repayments. Failure to do so could give rise to more serious arrears problems with negative consequences for both parties: for the Bank, many factors including greater difficulty in normalising the repayment situation; for the borrower accumulating arrears that will affect his/her credit rating and give rise to the risk of losing his/her home.
The Bank has a Mortgage Arrears Resolution Process (MARP) in place for residential mortgage customers who are in arrears or who feel they may have difficulty meeting future payments on their primary residence.
For more details on our MARP process and useful information/links, see below: