Mortgage Payment Break Request

COVID-19 – Mortgages Solutions Online Application Form

This form is only to be completed if you already have a COVID-19 3 month Payment Holiday.

panel1
panel2
panel3
panel4
panel4

Section 1 - Your details

Please provide your contact details below - a member of our mortgage team will be in contact to process your application within 2 working days.

Your name:*

Your contact number:*

Your email address:

Preferred contact time:*

Section 2 - Your mortgage details

Address of the property:*

Post code of the property:*

Which date in the month does your mortgage payment go out?:*

Important information

In order for the 3 month Payment Holiday, Term Extension or a Partial Repayment Period request to be effective before your next scheduled repayment date, please ensure that you submit this form at least 7 working days before that date

How many parties are named on your mortgage:*

Details of Borrower 2

Name of borrower:*

Contact number:*

Email address:

Details of Borrower 3

Name of borrower:*

Contact number:*

Email address:

Section 3 - Your payment holiday request

Details of your request:*

Important information

If you are applying for a further Payment Holiday, it is important to note that when your extended three month Payment Holiday ends, we will increase your monthly repayments over the remaining term of your mortgage to spread the cost of what you weren’t paying during the six months over the original term of your mortgage. Alternatively at the end of your Payment Holiday, you can apply for a six month extension to your mortgage term.

If applying for a term extension, it is important to note that if you extend the term of your mortgage it will increase the cost of credit and this means you will pay more interest over the term of the mortgage. Term extensions are only available to customers who are returning to full Capital & Interest repayment on expiry of their Payment Holiday.

You can also make partial repayments on your mortgage for the next three months if you can afford to do so. You can decide how much you can pay.

Have you been furloughed as a result of COVID-19:*

Yes

Reason for this request (free text box):*

Section 3 - Your payment holiday request

If you have been furloughed as a result of COVID-19 please attach a copy of any correspondence you have received from your employer (if applicable)

Attach photo, image or PDF here:

Please do not add authorisation signatures to the documents you are uploading. Once the document has been received and validated we will return via DocuSign for your electronic signature(s).

Declarations and Important Information

Please tick below to confirm that I/we understand and accept the following:

That this request is subject to approval by AIB and that the information you supply through this form will be held and used by us to process your request.

That when the Payment Holiday/Partial Repayment period ends, my/our mortgage repayments will increase because they will be recalculated to ensure that the total outstanding is repaid (together with interest due) within the existing mortgage loan term remaining. Any extension applied to the term of the mortgage will lower the monthly repayments but I/we will pay more interest on the longer term of the extended mortgage.

If I/we have requested a Payment Holiday or Partial Repayment period, the interest will continue to be charged on my/our mortgage loan and this interest will be added to the balance of the mortgage and must be repaid after the Payment Holiday period expires.

That by having a Payment Holiday/Partial Repayment period, it will result in an additional cost of credit, which is the total cost of deferring capital and/or interest repayments during the Payment Holiday/Partial Repayment Period.

I/We understand that it is my/our personal responsibility to carry out a full review of any mortgage protection life cover in place if my/our request for a Payment Holiday/Partial Repayment period is approved. I/we understand that this review is necessary to ensure appropriate cover is in place. If I/we adjust my/our mortgage protection policy, so that it caters for an extended term, this may be subject to additional health screenings and an increased premium(s). If I/we decide not to put alternative mortgage protection life cover in place, any shortfall in life cover upon death may result in the loan being unpaid and my/our estate becoming liable for repayment of the loan.

I/We understand that we do not need to amend my/our mortgage direct debit, this will be done automatically by the bank on application of a further payment holiday. I/We understand that if I/we have cancelled my/our direct debit previously, I/we must request the bank provide a new direct debit mandate prior to the expiry of the payment holiday.

We will only use this information in relation to your application for a mortgage payment holiday. For more information about how we collect personal information about you, how we use it and how you can interact with us about it, visit our Data Protection page.

Before submitting this form please review the information you have completed to ensure it is accurate and complete.