Frequently Asked Questions
Yes, you are still protected by all aspects of the CCMA/CPC/CCA and ICS Mortgages are regulated by the Central Bank of Ireland.
ICS Mortgages is a trading name of Dilosk Ltd, which is regulated by the Central Bank of Ireland as a Retail Credit Firm.
Yes, you may be able to top up your mortgage. Simply call our customer service team on 0818 542 542 if you would like to discuss topping up your mortgage. This is also known as equity release. The funds can be used for home improvements, medical expenses or education fees
With effect from January 2014 changes were made to the basis for calculating the monthly TRS credit due on eligible accounts.Prior to January 2014 Revenue granted TRS credits based on the amount of interest charged to a mortgage account. Since January 2014 Revenue now grant TRS on the actual interest paid on a mortgage account. The changes do not impact the TRS band or rate applicable to a mortgage account.
How does this impact you?
If your monthly mortgage repayment covers the interest charged in full, you should receive the full TRS credit – therefore no change.
If your monthly mortgage repayment partially covers the interest charged, you should receive a partial TRS credit.
If no monthly repayment is made, you should not receive any TRS credit.
Yes, there is a fee of €63 charged when a solicitor requests the Title Deeds on behalf of our customer(s). The fee is not applicable where our customers are seeking additional funds on the same security.
Your mortgage balance and interest paid is on your annual statement which you normally receive in early January each year. If you do not have this to hand, you can call our customer service team on 0818 542 542.
When you are completing the application form ensure to confirm to the Life assurance company that ICS Mortgages have an interest in the policy as the assurance company will then be in a position to forward the original life policy onto ICS Mortgages for placement with the deeds. You also need to contact ICS Mortgages to get a Deed of Assignment which will be signed by all parties to the mortgage and returned to ICS Mortgages for placement with the Original life policy. Following completion of the process above, ICS Mortgages will then forward out a letter of further interest to the former life Assurance company to enable the old policy to be cancelled.
Your direct debit will automatically represent 5 working days from the date of receipt of the failure notification.
You may be able to take a mortgage payment holiday of up to 3 months, if your mortgage is not in arrears. You may find this beneficial if you have a significant expense such as education expenses, medical expenses or the birth of a child. You may be able to avail of up to 3 ‘payment holidays’ over the life of your mortgage. Call our customer services team on 0818 542 542 and they will advise you.
There are 2 options with regards to how your account will be amended when a lump sum payment is made. Our standard policy is for your monthly repayment to reduce in line with the reduction in balance. You can also opt for your monthly repayments to remain the same, in which case the time taken to pay the loan in full can reduce.
You should contact Bank of Ireland Mortgages directly on 01-6113000 and they will be able to assist you with any queries you may have.
If you are having difficulty meeting your mortgage repayments, or fear you may be getting into financial difficulty, please talk to us as soon as possible, the sooner you tell us the more we can do to help you. The team in our Arrears Support Unit will work with you, they are experienced and well trained in managing such challenges and will use their expertise to help find a resolution that suits your current situation.
Approximately 60 days prior to your fixed rate expiring, we will write to you and explain the rate options available to you.
Can you please arrange for your solicitor to put this request stating the purpose in writing and send to us at PO Box 1077, Maynooth, Co Kildare and we will arrange this. Please also ensure your signed authority is attached.
Tax relief is available for home mortgage interest in certain circumstances. This applies in respect of a main residence only. The tax relief is granted at source and is administered by the lender. The lender either reduces the mortgage repayment by the amount of the tax relief, or a credit is lodged into the account from which the repayments are made. To find out if you are receiving it, please review your mortgage statement or call our customer services team on 0818 542 542.
Our preferred method of payment is Direct Debit. However, you can also make repayments by Standing Order, Cheque, or Electronic Funds Transfer. If you would like a Direct Debit mandate please contact us on 0818 542 542.
The deeds for your property are in secure storage.
ICS Mortgages is the trading name of Dilosk Limited and we are regulated by the Central Bank of Ireland.
We are an Irish company and we entered into the Irish mortgage market in September 2014 when we purchased the ICS Mortgage brand, ICS Mortgage business and a portfolio of mortgages from Bank of Ireland.
We are fully regulated by the Central Bank of Ireland and aim to provide people with an alternative mortgage lender to the traditional banks. We strive to provide a first class service to all our customers and we fully operate within all the codes and legislation as required by the Central Bank of Ireland.
As part of the EU restructuring plan for Bank of Ireland, BOI were obliged to divest part of their mortgage book in order to help increase competition in the Irish mortgage market.
ICS mortgages bought a portion of Bank of Irelands' mortgage book in order to set up as a new lender and provide some competition to the traditional Banks and offer people an alternative mortgage provider. Your mortgage has not been affected and you are still fully protected under CCMA.
As ICS Mortgages is regulated by the Central Bank, we report the performance of our loans to the Irish Credit Bureau (ICB) the same way as your previous Bank did. So any missed repayments will be reflected on your Credit Bureau report.