General FAQs

Frequently asked questions


Q. 1. Why has servicing on my residential mortgage moved to Mars Capital?

A. Your mortgage(s) and/or guarantee has been sold by your previous lender and the new loan owner has engaged Mars Capital Finance Ireland DAC ("Mars Capital") as credit servicing firm to manage the mortgage(s) and / or guarantee.

Q. 2. Have my mortgage terms and conditions changed as a result of my loan being acquired by the new loan owner?

A. No. The transfer of your mortgage(s) and/or guarantee to the new loan owner has not changed the terms of your loan agreement. Mars Capital, as credit servicing firm of your mortgage(s) and/or guarantee, are regulated by the Central Bank of Ireland and the new loan owners have committed to honour the original legal terms of your existing loan agreement.

Q. 3. Should I continue to make my repayments as normal?

A. Yes. We will have written to you to explain how you should continue to make your monthly mortgage payments. If you are in any doubt, please contact us immediately and we will clarify what you should do.

Q. 4. Are your arrears and repossessions procedures the same as other banks and building societies?

A. Mars Capital Finance Ireland DAC are regulated by the Central Bank of Ireland ("Central Bank"). We comply with the Central Bank’s Code of Conduct on Mortgage Arrears. It is not part of our business model nor in our interests to apply unnecessary pressure to any of our customers or to hasten the repossession of their property. We would like all borrowers to remain up to date with their mortgage repayments and those who are experiencing financial difficulties will be provided with appropriate help and support.

Q. 5. Will you have all my details or will I have to provide this information to you?

A. As part of the transfer of your loan from your previous lender to us, we were provided with all the necessary information in relation to your mortgage(s) and / or guarantee. These details will be used by us for the continued management and administration of your mortgage and / or guarantee.

Q. 6. Is my mortgage continuing to be administered in Ireland?

A. Yes. Your mortgage is being administered in Ireland by Mars Capital Finance Ireland DAC, which is regulated by the Central Bank of Ireland. We are based in Warrington Place in Dublin 2. On occasion, specific issues may be referred to the loan owner(s) (who may be based overseas) for resolution.

Q. 7. If I am experiencing difficulties repaying my mortgage, what should I do?

A. Please contact us immediately and explain changes in your circumstances to us. We will tell you what we can do to help.

Q. 8. Can I redeem my mortgage and/or transfer it to another lender?

A. Yes. Please contact us and we'll arrange to send you a redemption statement.