# The lender must publish their criteria for restructuring mortgages



## Brendan Burgess (27 Jun 2013)

> 14.     A lender must prepare and make available to *borrower*s, an information booklet providing details of its *MARP*, which must be drafted in accordance with the requirements set out in Provision 12 above and must include:
> a)      an explanation of its *MARP*;
> b)      an  explanation  of  the  alternative  repayment  arrangements  available  to *borrower*s, how these arrangements work, the key features of the arrangements and an outline, in general terms, of the lender’s criteria for assessing requests for alternative repayment arrangements;



and 



> 40.    A  lender  must  document  its  considerations  of  each  option [for alternative repayment arrangements] examined  under Provision 39 including the reasons why the option(s) offered to the *borrower *is/are appropriate and sustainable for his/her individual circumstances and why the option(s) considered and not offered to the *b**orrower *is/are not appropriate and not sustainable for the *borrower*’s individual circumstances.




This is very welcome, even if it is a bit vague. 

It has been very difficult for us to advise people in arrears, because we did not know what the criteria for the different solutions were.


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## Bronte (27 Jun 2013)

I don't believe we will know what they are doing, they will draft a 'vague' document and continue to deal secretly.  

And continue up in the debt recovery rooms with 'be nice to customer' pretend, and celebrate each day when they 'force' customers to pay something back with pressure calls.  We know they have daily targets, and it was fully outlined in the Irish Independent (maybe the Times) around Easter.   But it was outlined in warm language, touchy feely stuff.


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## Brendan Burgess (27 Jun 2013)

Bronte said:


> I don't believe we will know what they are doing, they will draft a 'vague' document and continue to deal secretly.
> 
> .



Hi Bronte

It's a bit vague, but it's a start. 

If the banks don't publish them, we can chase the CB to issues clarifications.


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## Bronte (27 Jun 2013)

Brendan Burgess said:


> It's a bit vague, but it's a start.
> 
> If the banks don't publish them, we can chase the CB to issues clarifications.


 
Brendan you've great faith in the CB and in banks, it being a start, I'm a cynic and don't believe one word that come out of banks or the CB.


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## Brendan Burgess (27 Jun 2013)

Hi Bronte

Just to be clear - I am not happy with this limited proposal, but there was no mention of it at the briefing the CB gave a few of us last week. So maybe we managed to get them to accept that it is necessary.

The Revenue Commissioners will be issuing Guidelines for PIPs in the coming weeks and when it is published, I think we should push this issue again to get the banks to publish similar guidelines.

Brendan


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