COVID-19 Financial Difficulties

Financial Difficulties

Repayment Arrangements

During this unprecedented and challenging time, BCMGlobal is aware of the difficulties borrowers may face.

Everyone is heavily affected by our current situation, and we understand that businesses and people might face financial difficulty. At BCMGlobal, we want to work with you to help.

We’ve provided a form below that you’ll need to fill out if you would like to apply for an (ARA) on your mortgage repayments. One of our dedicated case managers will be in touch with you regarding your application within 24 hours of submission.

It’s important to note that when this ARA period ends, your mortgage repayments will increase, as the outstanding amount from the ARA period will be added to your mortgage. This ensures the total amount outstanding is repaid (together with interest due) within the existing mortgage loan term.

We recommend you submit the below form well in advance but no less than ten days before your next scheduled repayment date. This should allow adequate time for review.

A typical worked example:

A customer who has a mortgage of €300,000 over a 25-year term, on a 3.5% interest rate

  • Current monthly repayments = €1,502
  • After four years and nine months the customer takes a three-month mortgage repayment break.
  • At start of year five they commence monthly repayments again.
  • Their monthly mortgage repayment increases to €1,528.

This is an increase of €26 per month (an additional €1,734 over the term of the mortgage). The repayment increases to ensure that the loan is still repaid by the agreed maturity date.

Apply for an Alternative Repayment Arrangement

Property details

You can find your Mortgage account number on your mortgage correspondence

Please enter your correspondence address

Please enter the address of the mortgaged security

Please provide a contact telephone or mobile number

Please provide an email address where we can contact you

First applicant

Please enter the full name of the first applicant

Please enter the occupation of the first applicant

Enter numbers

Enter numbers

Second applicant

Please enter the occupation of the second applicant

Please enter the occupation of the second applicant

Enter numbers

Enter numbers

COVID-19 - Alternative Repayment Arrangement

Provide information as to how you are financially impacted by COVID-19

Declaration / Acceptance

I/We declare and accept that:

We will need some information from you to consider your application namely.;

  • A completed and signed standard financial statement.  You can also get help in completing this document by using the “Central Bank Guide to Completing an SFS;
  • Evidence of any payments you receive from the Department of Employment Affairs and Social Protection (DEASP) and any other State benefits. (if applicable);
  • Six months of current account and/or loan bank statements as sent to you. Sadly, we can’t accept photocopies. You can get these statements by going to a bank or through online banking by ordering or printing statements;
  • Photo identification – copy of your passport or driving licence;
  • Proof of address – an electricity or other utility bill;
  • 3 recent consecutive payslips or if you are self-employed you most recent Notice of Assessment and a set of audited or management accounts for any trading entity in which you hold a shareholding;

If approved, full details of the terms of the Alternative Repayment Arrangement and the impact to repayments of your Mortgage will be provided to you in the Letter of Variation.

Statutory notices and warnings

WARNINGS:

WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT.

If you have a variable rate mortgage:

THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME.

Data processing consent

If you have any questions, please get in contact with us at: 1890 100 045 or email customersupport@linkgroup.ie

We recommend you seek appropriate legal and/or financial advice for this application.