# 73% of those in MARP positive about experience



## Brendan Burgess (24 Feb 2013)

I missed this survey issued by the Central Bank on Wednesday

*[broken link removed]*


As it prepares to seek views on the Code of Conduct on Mortgage  Arrears (CCMA), the Central Bank of Ireland today released results of  its independent research into the experience of borrowers facing or in  mortgage arrears who are engaging in the CCMA’s Mortgage Arrears  Resolution Process (MARP).  


Key findings of the consumer research[1] are; 
 Borrowers surveyed were positive about their overall experience when  interacting with their lenders during the MARP process, with 73% of  borrowers indicating that their lender had been professional in its  dealing with them, and 64% noting their lender’s helpfulness; 


71% of borrowers were positive about the ease of completing the  Standard Financial Statement (‘SFS’)  lenders must  use to gather  financial information on a borrower’s circumstances in order to inform  any new arrears arrangements;
71% of borrowers surveyed had entered into an alternative  arrangement with their lender as a result of MARP and 80% of those  completing an SFS entered a revised agreement;
Of the 10% of borrowers who used the MARP’s Appeals process, 60%  stated that they had successfully negotiated a more  suitable/sustainable arrangement;
a third of consumers claimed that their lender did not have a discussion with them regarding other debts.


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## Brendan Burgess (24 Feb 2013)

This backs up what I have been saying for a long time - that people who engage with their lender tend to get a good result.  It is in direct contrast to the widespread view that the banks are doing nothing at all for their customers.

I am really surprised that I missed this. Did it get good coverage? 

RTE  Central Bank MARP helped 71% of borrowers

Indo  Regulator tells homowners "engage with banks"  A short end paragraph as part of a longer article 

Indo Banks fail to ask about other loans  by Charlie Weston - doesn't even mention the overall positive findings of the survey


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## GDUFFY (25 Feb 2013)

While I think MARP has it's merit's ,the banks have been woeful in offering long term restructures.

*Notes to Editors *​ *1. Consumer Research*​ Consumer research was independently conducted on behalf  of the Central Bank in the second half of 2012.  The research on MARP  involved face to face interviews with 209 individuals who engaged with  the MARP. The cynic in me Brendan thinks the 209 were carefully selected*. *Howmany 
mortgages are in marp ? 209 seems like a small percentage of all marp participants past and present.Sounds like spin to me*.
*


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## Brendan Burgess (25 Feb 2013)

GDUFFY said:


> The research on MARP  involved face to face interviews with 209 individuals who engaged with  the MARP. The cynic in me Brendan thinks the 209 were carefully selected*. *Howmany
> mortgages are in marp ? 209 seems like a small percentage of all marp participants past and present.Sounds like spin to me*.
> *



Hi G

It's not a survey of the general public, where you can identify 1,000 people easily enough. 

They interviewed 209 people. 
73% were positive. 

Given the general nature of the finding, that seems a pretty good indicator to me. 

Would you prefer a survey based on the experience of New Beginnings? They are quoted all the time, but they are dealing with people who presumably are unhappy with the outcome of their discussions so far.

Most people I have spoken to got a good result from the MARP. Why wouldn't they - it's a good scheme. 

Most peole in difficulty will recover in the medium term given time. 

The banks, borrowers, government and Central Bank have all fallen down badly when it comes to dealing with unsustainable mortgages. 

But those who can benefit from MARP have had a good experience and this research backs it up.


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## Time (25 Feb 2013)

How were these people selected?


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## ClubMan (27 Feb 2013)

Brendan Burgess said:


> 71% of borrowers surveyed had entered into an alternative  arrangement with their lender as a result of MARP and 80% of those  completing an SFS entered a revised agreement;


This point is confusing. Did the 80% mentioned above NOT enter _MARP _but just filled in an _SFS_? In which case why are they mentioned in a survey that focuses on _MARP_?


> a third of consumers claimed that their lender did not have a discussion with them regarding other debts


In my opinion this is a problem. Surely the lender should be looking at the overall financial/debt situation and not just their loan(s)?


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