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  1. K

    Explanation of Sustainable Level of Repayment

    Thanks Brendan. Just read your reply now.
  2. K

    Explanation of Sustainable Level of Repayment

    We were removed from MARP i.e. an unsustainable mortgage. We continue to repay full interest per month and a portion off the capital. Its surprising that a 6% of capital would be acceptable considering we are currently paying more
  3. K

    Explanation of Sustainable Level of Repayment

    It's suggested a 6% sustainable level of repayment is made. If you can comply to this for a period of six months it may then be appropriate to submit another SFS.
  4. K

    Explanation of Sustainable Level of Repayment

    Hi All If a lender insinuates in writing that 6% sustainable level of repayment maybe accepted what does that actually mean? Is it simply a monthly repayment consisting of full interest and 6% of the capital per month?
  5. K

    Are renegotiations halted once you are classifies as unsustainable?

    Thanks Robert. Anything we suggest is rejected. We received a letter stating they may commence legal action in the next three to four weeks and of course my OH freaked out when she read this . . . We have arrears of approx four thousand euro.
  6. K

    Are renegotiations halted once you are classifies as unsustainable?

    When a mortgage is classified as unsustainable and the banks internal appeals process has agreed with the initial classification is that basically the end of the road save for an appeal to the FSO? The reason I ask is because our bank has indicated this, even though we can raise extra income...
  7. K

    Key Post Central Bank Governor agrees that long interest-only is a sustainable solution

    Can you please clarify if the Central Bank has confirmed that interest only payments on a mortgage is a long term sustainable solution if affordability of interest only payments can be proven?
  8. K

    Case study We have been removed from the protection of MARP. What are our next steps?

    Update - Our appeal to re-enter M.A.R.P. has been turned down and we've been informed that within three months the lender can begin repossession proceedings.
  9. K

    ISI Guidelines on surplus income

    Thank you Alan. Excuse my ignorance but are those figures include utilities electric etc?
  10. K

    ISI Guidelines on surplus income

    One of the reasons we were removed from the protection of MARP was because our lender says we have very little income left over after we pay our liabilities and utilities. Could you please clarify what income should be left over after all monthly debts and utilities are paid as advised by the...
  11. K

    Case study We have been removed from the protection of MARP. What are our next steps?

    Out of interest, how long does it take to receive instructions of your first court appearance prior to your removal from the M.A.R.P?
  12. K

    Case study We have been removed from the protection of MARP. What are our next steps?

    Thank you both. So far all proposals have been turned down on the grounds that they are outside bank criteria. A split mortgage, lowering of the interest rate for a two year period and elongating the loan term have also been turned down hence we have been formally been removed from the...
  13. K

    Case study We have been removed from the protection of MARP. What are our next steps?

    Thank you Brendan. We are on an interest rate of 4.5% with a lender who has one foot out of the country so any form of deals does not appear to be on their agenda. We do not have the written assurance from the lender that repossession proceedings wont take place. This was a verbal...
  14. K

    Case study We have been removed from the protection of MARP. What are our next steps?

    Hello, Last week the day came that we had all been dreading; my wife and I where formally removed from MARP. Without being dramatic our lives have changed; we're concerned, confused and my wife has not stopped crying. I feel a failure. I've failed my family and failed to convince our lender...
  15. K

    What is a non veto PIA?

    I read somewhere that one can apply for a "non veto" PIA. Has anyone ever come across this? Furthermore has anyone ever encountered a sub-prime lender insinuating you would be best applying for insolvency as doing any form of serious negotiation is not within their scope?
  16. K

    Case study Fight to stay in home or agree to a voluntary sale

    Brendan, she met with a insolvency practitioner and he too agreed that 3.5% for X amount of years would be the sensible way to go. I understand the bank rebuked this idea saying the interest rate is the interest rate. Would it be crazy for her to simply pay the full P&I at an interest rate of...
  17. K

    Case study Fight to stay in home or agree to a voluntary sale

    Thank you to everyone who responded. TLO, you are correct they do not appear to be keen on providing alternative facilities and it would appear they are going to commence proceedings against her. She is going to hang tight and keep paying however she no longer has the protection of MARP...
  18. K

    Accused of a crime but no book of evidence

    Since my last post my brother has engaged a solicitor. The solicitor has been successful in quashing the hit and run allocation as cctv footage proved he stead at the scene beyond the time frame as stated by law. If he had pleaded guilty; as I felt the Judge wanted him too, then he would have...
  19. K

    Accused of a crime but no book of evidence

    Update: Solicitor engaged. To reiterate Leo's previous post . . . the solicitor said exactly the same. On further investigation CCTV footage of the incident was requested resulting in the solicitor saying my brother had waited all reasonable time at the incident etc. The solicitor is...
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