Falling into arrears on your mortgage repayments and the threat of repossession can be a stressful experience. It is important to remember however that help is available.

In 2016, the government introduced Abhaile, an innovative scheme to assist borrowers in mortgage arrears. The initiative aims to ensure that a person in this situation can access free, independent expert financial and legal advice and support. Priority is given to finding solutions which will allow the borrower(s) to remain in their home, wherever that is a sustainable option.

In order to determine your eligibility, you should contact your local Money Advice and Budgeting Service (MABS) office. MABS provide high level independent expert advice to people in difficulty with mortgage arrears.

MABS will assess your financial circumstances and If you are eligible for the scheme, direct you to the expert best placed to assist. Depending on your situation, this may be a dedicated mortgage arrears adviser in MABS, a personal insolvency practitioner (‘PIP’), a Solicitor, or an Accountant. You will be provided with a voucher for free provision of the relevant services.

In order to qualify, you must be:

  • Insolvent, ie. unable to pay you debts in full as they fall due;
  • In mortgage arrears in respect of the home in which you normally reside; and
  • At risk of losing your home

Brady Kilroy are an Abhaile approved legal firm. We regularly assist clients in mortgage difficulty. Contact our office james.flynn@bradykilroy.ie01 2180806 or any MABS Center today for more information.

Useful links:

MABS contact details: https://www.mabs.ie/en/contact/

MABS – Facing Repossession: https://www.mabs.ie/downloads/publications/16_10_13_Facing_Repossession.pdf