COVID-19 Temporary Mortgage Repayment Arrangement
During this unprecedented and challenging time, Link ASI Ltd is aware of the difficulties borrowers may face.
Everyone is heavily affected by our current situation, and we understand that businesses and people might face financial difficulty. At Link ASI Ltd, we want to work with you to help.
We’ve provided a form below that you’ll need to fill out if you would like to apply for a Temporary Repayment Arrangement on your mortgage repayments.
It’s important to note that when this Temporary Repayment Arrangement period ends, your mortgage repayments will increase, as the outstanding amount from the Temporary Repayment Arrangement period will be added to your mortgage. This ensures the total amount outstanding is repaid (together with interest due) within the existing mortgage loan term.
We recommend you submit the below form at least ten days before your next scheduled repayment date. This will allow adequate time for review.
A typical worked example:
A customer who has a mortgage of €300,000 over a 25-year term, on a 3.5% interest rate
- Current monthly repayments = €1,502
- After four years and nine months the customer takes a three-month mortgage repayment break.
- At start of year five they commence monthly repayments again.
- Their monthly mortgage repayment increases to €1,528.
This is an increase of €26 per month (an additional €1,734 over the term of the mortgage). The repayment increases to ensure that the loan is still repaid by the agreed maturity date.
Apply for a Temporary Repayment Arrangement
If you have any questions, please get in contact with us at: 1800 415 161 or email email@example.com
We recommend you seek appropriate legal and/or financial advice for this application.