Terms of Business
Our legal name is Mars Capital Finance Ireland DAC and we use the trading name of Mars Capital. We were established in Ireland in March 2015 to operate as a credit servicing firm. On 17th July 2017, we were authorised and became regulated by the Central Bank of Ireland (CBI register number C145706). We are an Irish credit servicing firm servicing loans on behalf of loan owners and ourselves from our offices located at One Warrington Place, Dublin 2, D02 HH27, Ireland.
We are a member of the Arrow Global Group
You may contact us in writing or by telephone using the following details:
PO Box 12546
Telephone: 1800 816 121 / 1800 852 940
Telephone: +353 1 526 8580 / +353 1 267 8033
Central Bank Codes
We are subject to the following Central Bank Codes and Regulations:
• Consumer Protection Code
• Code of Conduct on Mortgage Arrears
• Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-Sized Enterprises) Regulations
• Minimum Competency Code
These Codes and Regulations offer protection to consumers and may be found on the Central Bank of Ireland’s website: www.centralbank.ie
Our main business activity is credit servicing. This includes the administration of residential owner-occupied mortgage loans, buy-to-let mortgage loans, and loans to Small and Medium-Sized Enterprises.
Fees and Charges
Fees or charges may be imposed in certain circumstances, in accordance with the terms and conditions of your credit facility agreement. The circumstances may include your account falling into arrears or entering into financial difficulties.
Your Personal Data
We gather and process your personal data, in compliance with the EU General Data Protection Regulation, for the purposes of managing accounts where we are the owner of loans, or, on behalf of owners for whom we carry out credit servicing activities. Our Privacy Notice describes in detail how we use and share your personal data and is available on our website www.marscapital.ie.
Conflicts of Interest
Our policy is to avoid any conflict of interest in relation to our products and services however, where they arise and cannot be reasonably avoided, we will disclose the nature of the conflict to you in writing and will only continue to transact business with you when you have acknowledged that you are aware of the conflict and still wish to proceed. If you have not been advised of a conflict of interest, please take it that none exists.
Event of Customer Default
Where you are at default in relation to your obligations under your original loan agreement, we will notify you to ask you to take action to remedy the matter. Where the default is not resolved, we may seek to enforce your obligations through legal proceedings or the enforcement of any guarantee or security under the original loan agreement. At all times, we will adhere to the terms and conditions of your original mortgage loan agreement and any applicable Central Bank Regulation or Code of Conduct.
You may submit a complaint to us in writing or by telephoning us using the following details:
PO Box 12546 / 13351
Telephone: 1800 816 121 / 1800 852 940
Telephone: +353 1 630 6054
If you are dissatisfied with our final decision, or if we have not sent you our final decision within 40 business days, you have the right to refer the matter to the Financial Services and Pensions Ombudsman. Their contact details are set out below:
Financial Services and Pensions Ombudsman
Telephone: +353 1 567 7000
Please note that the Financial Services and Pensions Ombudsman will ask for a copy of our final decision before they review your complaint.
Changes to Terms of Business
We will notify you if there is any material change to these Terms of Business. This notice will be in paper or electronic format and may be communicated by an advertisement in one or more newspapers circulated nationally in Ireland.
Date of Terms of Business
The effective date of this Terms of Business document is 8th December 2020.