Repossession in its current ruling format

Can anyone tell me what rules are at present regarding repos family home? I know there is some loophole about to be closed, where will that leave us and when is that due to be done?
My situation at present is that we have been in MARP process for past 3 years, though for last 12 months have not been in an agreement or was unable to stick to the agreement. I have paid €100 in that time. We have engaged with bank throughout and always let them know when we could not afford to pay etc.
I know there is a 12 month rule with MARP but when does this currently apply from? From when you last paid or from when MARP started or from last SFS?
We are trying to sell before this happens but bank making noises about this if circumstances dont change in very near future-ie Sept. Thanks.

The Code of Conduct on Mortgage Arrears prevents the bank from starting the process until the 12 months is up. Here is what the CCMA says (or the FAQ on it)

b. My lender is threatening to start legal action to repossess my home; are they allowed to do this?


Your lender cannot apply to the courts to start legal action for repossession of your home until every reasonable effort has been made to agree an alternative arrangement with you. Once you enter into discussions with your lender about your mortgage repayment problems, your lender will consider that you are within their Mortgage Arrears Resolution Process. As long as you are co-operating with your lender, they cannot apply to the courts to commence legal action for repossession until at least 12 months after the date you entered into the Mortgage Arrears Resolution Process. However, the calculation of the 12 month waiting period can be complicated as, for example, the time taken by your lender’s Appeals Board to consider your appeal is not included in the 12-month waiting period. If your lender agrees a new arrangement and you keep up repayments, the lender cannot start legal action to seek repossession. If you request it, your lender has to tell you how much time is remaining during which the lender may not commence legal action for repossession of your home.

Remember, if you do not co-operate with your lender in relation to your mortgage arrears, the lender does not have to wait for 12 months before starting legal action.

Thanks Brendan, though I am still a little confused-so here's current situation. They have just agreed a 3 month moratorium and we have to come up with a proposal within that time frame and basically the bank want interest and at least some capital to be paid, which we can't afford.
So can I assume the 12 month thing can kick in once current agreement finishes at end of August? On basis that we are unable to come to an agreement that the bank will be happy with?

Hi Ellenb

Your original post asks when MARP applies from - it applies from day 31 after you first missed a mortgage payment, and lasts for 12 months.
From the sounds of it - you are through the MARP process?

So at this stage your bank should be looking at some long term options for you, if they are at all feasible for the bank or yourselves.

There are various long term forbearance options set out in the Code of Conduct of Mortgage Arrears, such as deferred interest, split mortgages etc

I don't know if any of these options would be suitable in your case.

You have said that they have given you 3 months to come up with a proposal. I would suggest that you ask the bank what options they propose in your situation, that will allow you to remain in your home.
It may be that their view is that your mortgage is unsustainable.

There is the facility there that banks will pay for an independent professional advisor to go through their proposed options with you.

This might be helpful to you in helping you to come to your decision.

Has the Dunne lacuna been closed off yet or is that still waiting to go through?