COVID-19 Mortgage Payment Break

Circular 9 2020 - Mortgage Payment Break for Local Authority Borrowers was issued by the Department on the 10th of April 2020 to inform of arrangements to be put in place to support local authority borrowers who are experiencing financial distress arising out of COVID-19.  

Circular 18 2020 – Additional Mortgage Payment Break for Local Authority Borrowers was issued by the Department on the 26th June, 2020 and Circular 29 2020 - COVID-19 Additional Measures for Local Authority Borrowers.

A further Circular – Circular 3/2021 as now been issued to allow Local Authority Borrowers apply for a 4th Mortgage Payment Break.

Local authority borrowers who consider themselves to be in need of financial support and unable to meet their Local Authority Mortgage repayment due to the COVID-19 situation, have the option of a mortgage payment break for an initial period of up to three months.  The Application Form for this initial payment break period must be received by Sligo County Council on or before 31st March, 2021.

If you have already availed of a Covid-19 related Mortgage Payment Break with Sligo County Council you may now apply for a 2nd, 3rd or 4th Mortgage Payment Break if you are continuing to experience financial distress arising out of Covid-19 and are unable to resume full instalment payments on your Loan as stated in the Notification of Approval letter issued to you regarding the initial payment break. All Application Forms are available to download below.

Each Mortgage Payment Break is of 3 months duration.  You may apply for a maximum of 4 Mortgage Payment Breaks.  Depending on whether you apply for 1, 2 or 3 Mortgage Payment Breaks, the total duration of Mortgage Payment Breaks can last up to a maximum of three, 6, 9 or 12 months.  However, you cannot apply for more than 3 months in one go.

A mortgage payment break means that the borrower will make no mortgage payments for up to three months.  Additional interest will NOT accrue to the borrowers account during the period of the payment break ensuring that no increased cost will arise.  The monthly repayment following the break will be increased to facilitate the repayment of the loan over the remainder of the existing term of the loan.  This facility applies to all local authority home loan products.

At the end of the mortgage payment break repayments will resume at a marginally higher level (exclusive of MPI) for the borrower so that the original home loan will be repaid in full within its original term (original amount calculated over the remaining term minus length of the payment break).

To apply for a mortgage payment break please download the relevant Application Form below.  Please complete and submit either the Initial Mortgage Payment Break Application Form (to be submitted on or before 31st March, 2021) or the 2nd, 3rd or 4th Additional Mortgage Payment Break Application Form.

Please read the Mortgage Payment Break FAQ's which should assist you with your queries in relation to this measure.

You can also contact the following Loans staff if you have any queries relating to this or your Loan Account with Sligo County Council:

Bernadette Fidgeon, Telephone: 071 911 1135 / Email: bfidgeon@sligococo.ie

Maura Grimes, Telephone: 071 911 1309 / Email: mgrimes@sligococo.ie

Mortgage Payment Break - FAQ (PDF) - 270 kbs  PDF
Mortgage Payment Break - Initial Application form (January 2021) (DOCx) - 25 kbs  WORD
2nd Additional Mortgage Payment Break - Application form (June 2020) (DOCx) - 42 kbs  WORD
3rd Additional Mortgage Payment Break - Application form (October 2020) (DOCx) - 41 kbs  WORD
4th Additional Mortgage Payment Break - Application form (January 2021) (DOCx) - 42 kbs  WORD