# Is MARP working?



## Peter54 (2 Sep 2012)

My situation has deteriorated since entering the process.  From reading the T&C's I note your provider must contact you if more than three payments are missed under the agreement.  I've missed more than three and nobody has contacted me.

No resolution has happened even though I have mentioned numerous.


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## itsallwrong (12 Sep 2012)

Always contact them before they contact you.  It will always look better for you.
I'm not in a MARP with my bank.  I just told them I can't pay the arrears in the short term and hounding me will not change that.
I always contact them regularly and repeat the fact that I don't have it.


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## Peter54 (12 Sep 2012)

Hi Itsallwrong, any idea why some people who are in arrears are not protected under MARP?  My sister is in arrears of approx. 15k and her bank has never once mentioned MARP.


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## itsallwrong (12 Sep 2012)

The MARP process is the official recognition by the state the many people are in trouble with their mortgage and need an umbrella process to
protect them against their lender in case they try and play dirty. By that I mean come down on them unduly hard because they are in arrears.
It just establishes a fair approach for both sides to come to the table and see if it can be sorted out over a reasonable time.
It does not offer any guarantees if you can never pay the mortgage, but if you are in a fix for a while, it sets out a process to help you.

It's all explained here.
[broken link removed]

From the same fact sheet:
'The Code applies to the mortgage loan of a borrower secured on his or her primary residence. This means the house which the 
borrower ordinarily lives in or a house which the borrower may not currently live in but which is the only house in the 
State owned by the borrower. 
This means that investment (such as buy-to-let) mortgages are not covered by the Code where the 
borrower in question also owns another house in the State'

If you want the long official version:
[broken link removed]

The fact her bank has not mentioned the MARP approach is not a bad thing. She might get on well enough with her bank to negotiate her situation.
MARP can be called into play if she feels the bank are not being reasonable.

As soon as I went down the U-bend, I was into the bank the next week and bombarded them with financial data.

Strange they have not contacted her after one missed payment?
'As soon as a borrower goes into arrears, a lender must communicate promptly and clearly with the borrower to establish in the 
first instance why the repayment schedule as per the mortgage contract, has not been adhered to.'

Don't ignore it. You should ring them.


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