Industry Standard Financial Statement This Statement Is For Use In The Marp Page 11
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11Guiding Principles for completing the SFS
1. We at [name of lender] are fully committed to working with customers who are
in, or are facing, financial difficulties with their mortgage repayments in order
that a mutually-acceptable arrangement can be agreed. We will actively
encourage contact with such customers through web sites, media and printed
material.
2. We have specially-trained personnel in our offices and branches, including
specialised telephone contact points, to deal with customers facing or in
financial difficulties.
3. This Standard Financial Statement (SFS) is designed to assist you in setting
out your current financial circumstances.
4. We consider that the completion of the SFS is a serious undertaking and we
will work with you to ensure that the information is accurate, enabling us to
work with you to determine the most appropriate and viable option in each
particular customer case.
5. The easiest way to see where you stand financially is to gather all the
relevant information and documents so that you can write down all the money
you have coming in and going out each month and complete an SFS.
(If your income is weekly, multiply it by 52 and divide the result by 12 to get
your monthly income.)
6. In the SFS you will have to provide information on your current income,
expenses and other amounts you owe and any assets you own.
It is
important that you include all of your basic living expenses. You are also
encouraged to ensure that you are maximising your income, including what
social welfare entitlements you may be eligible for such as Mortgage Interest
Supplement (see ).
7. It is important to fill out the SFS fully and accurately and to provide any
relevant documentation that we may need to assess your situation; we will
only seek information that is relevant to this assessment.
8. Your completed SFS and other factors relating to your case will be assessed
by our Arrears Support Unit which will decide whether or not an alternative
repayment arrangement is necessary and, if so, what type(s) of alternative
repayment arrangement(s) appropriate to your circumstances can be made
available.
9. If an alternative repayment arrangement is not offered to you, we will give you
a reason for that decision in writing. You will have the right to appeal that
decision; you may appeal to us initially and subsequently to the Financial
Services Ombudsman.
10. If you require further information, you can avail of support material available
through a number of sources including our website [relevant address inserted
here], .
You can also seek independent advice
from MABS ( ) or an appropriate alternative. If you give us your
written consent we will liaise with a third party, nominated by you, to act on
your behalf.
ends
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