Quick answer
- Contact the lender as soon as you know a payment will be late or has failed.
- An unagreed missed payment can affect the Central Credit Register record.
- MARP is the structured process for a mortgage on a primary residence in arrears or at risk.
- MABS and Abhaile provide free independent support for eligible borrowers.
On this page
What to do today
- Check whether the payment was rejected, delayed or taken from the wrong account.
- Contact the lender’s arrears or support team immediately; do not wait for the next payment date.
- Explain whether the problem is temporary or likely to continue.
- Ask what amount is now due, whether interest or charges arise, and how the event will be reported.
- Keep notes, letters, emails and payment references.
- Do not take expensive new credit simply to hide the missed payment without reviewing the wider budget.
If the lender agrees a payment break or alternative arrangement in advance, its treatment can differ from an unagreed missed payment. Get any arrangement in writing.
One missed payment versus continuing arrears
An accidental single missed payment is not the same as long-term arrears, but it still needs prompt action. The lender can request the overdue amount and a missed payment can be reported to the Central Credit Register. That may affect future borrowing decisions.
If normal payments cannot resume, early contact gives more time to assess an alternative repayment arrangement. Do not promise an unaffordable catch-up amount; give accurate income and spending information.
How MARP works
The Mortgage Arrears Resolution Process is set out under the Central Bank Code of Conduct on Mortgage Arrears for a qualifying mortgage on a primary residence. In broad terms the lender communicates with you, gathers financial information, assesses the case and considers possible alternative arrangements before later stages.
You may be asked to complete a Standard Financial Statement covering income, essential spending, debts and assets. Complete it honestly and provide requested evidence. A proposed arrangement can reduce short-term pressure but may increase total interest or extend the term.
Possible arrangements and trade-offs
| Possible route | Immediate effect | Long-term question |
|---|---|---|
| Temporary reduced payment | Lowers payment for an agreed period | How and when is the shortfall repaid? |
| Interest-only period | Reduces payment temporarily | Capital remains and total interest may rise |
| Term extension | Can reduce monthly payment | More interest and later payoff |
| Capitalisation of arrears | Adds arrears to balance | New payment and total cost |
| Sale or other resolution | May end unsustainable borrowing | Costs, housing and any remaining debt |
The lender decides which arrangements it will offer after assessment. Get independent advice before accepting a major restructuring.
Where to get free help
MABS provides independent money and debt advice. Abhaile can provide free financial, insolvency and legal supports for people in serious home-mortgage arrears who meet its conditions. FLAC may help with legal information, and the lender should explain its complaints and appeal routes.
Frequently asked questions
What happens if I miss one mortgage payment in Ireland?
Contact the lender immediately. The overdue amount remains due and the event may affect your Central Credit Register record.
How late can a mortgage payment be?
Do not rely on an assumed grace period. Check the contract and contact the lender as soon as payment is not made on the agreed date.
Can a missed payment stop me getting credit?
It can influence future credit assessment because lenders review repayment history, but each future application is assessed on its facts.
What is MARP?
MARP is the Mortgage Arrears Resolution Process for borrowers in or at risk of arrears on a qualifying primary-residence mortgage.
What is a Standard Financial Statement?
It is the structured form used to show income, spending, debts and assets so the lender can assess an arrears case.
Can my home be repossessed after one missed payment?
Repossession is not the immediate result of one missed payment. It is a last-resort legal process, but all lender and legal correspondence should be treated seriously.
Sources & references
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