Start Mortgages

This Terms of Business is effective from 1st January 2012.

This document is intended to provide you with information that will assist you as our customer. Please take the time to read this page in full. If there is anything in this page that you do not understand please do not hesitate to call us on (01) 209 6300 and we will answer any questions you may have.

Start Mortgages - Company Information

Start Mortgages Limited is a wholly owned subsidiary of Start Mortgages Holding Limited. Start Mortgages Holding Limited is in turn a subsidiary of the Kensington Group. Our registered office is:

Trimleston House,
Beech Hill Office Campus,
Clonskeagh,
Dublin 4.

If you need to contact us please call (01) 209 6300 or send a fax to (01) 209 6363. You may also contact us through our website, www.start.ie

Consumer Information

Start Mortgages Limited trading as Start Mortgages is regulated by the Central Bank of Ireland. Start Mortgages is authorised by the Central Bank of Ireland and is subject to the Consumer Protection Code 2012, the Code of Conduct on Mortgage Arrears, the Minimum Competency Code 2011 and the Fitness and Probity Standards (Code) which offer protection to consumers and can be found on the Central Bank’s website www.centralbank.ie.

Our Services

Start Mortgages is a mortgage provider however Start Mortgages is not currently offering New Mortgages, Further Advances or Top Ups.

Fees and Charges

All of our fees and charges have been set in accordance with Section 149 of the Consumer Credit Act 1995 (as amended).

The following fees are charged on occurrence of the action as described:

Mortgage Deed Sealing Fee: €38.
Title Documents Release Fee: €38.
Lapsed Insurance Policy Processing Fee: €60.
Arrangement Fee: 0.5% of the initial advance subject to a maximum fee of €1,800.
Further Advance Arrangement Fee: 0.5% of the initial advance subject to a maximum fee of €500.

Start has suspended** charging the following fees on occurrence of the action as described:

Direct Debit Alterations: €10.
Alterations in Mortgage Terms: €130.
Returned Instalment: €12.
Reminder Letter on Outstanding Instalment: €10.
Interim Account Statement: €6.
Copies of Documents: €6 per document.
Solicitor, Auditor or Accountant Letter: €13.
Call Out Fee: €50.
Credit Transfer Drawdown: €20.
Interest Surcharge on arrears: 1% per month

** Customers to which the revised Code of Conduct on Mortgage Arrears applies and in respect of which are not co-operating reasonably and honestly with Start in the Mortgage Arrears Resolution Process may be charged these interest and fees.

Consumers Personal Data

Start Mortgages complies with its obligations under the Data Protection Acts 1988 and 2003. Start Mortgages may, subject to your consent, hold and process personal data received in accordance with the terms and conditions applicable. You have the right to receive a copy of your personal data held by Start Mortgages following a written request, for which a small fee may be charged, and to have any inaccuracies in your personal data corrected.

Conflicts of Interest

Where a conflict of interest cannot be reasonably avoided, we will only undertake business with you having first informed you of the conflict of interest and following receipt from you of a written acknowledgement that you are aware of the conflict of interest and still want to proceed.

Arrears

If you are in arrears on your mortgages payments or think that you are in danger of falling into arrears then you should contact our Arrears Support Unit (ASU) immediately on (01) 209 6300.

In accordance with the Code of Conduct on Mortgage Arrears we will endeavour to assist you.

Complaints Procedure

Should you wish to make a complaint please contact us using the contact details provided above. We have a written procedure for handling customer complaints. We aim to resolve all complaints as quickly as possible and to acknowledge each complaint within 48 hours of it being received.

Should you make a complaint we will endeavour to send you a full written response within 5 working days. If a full response is not possible within this time we will provide you with regular updates by way of either telephone or letter whilst we investigate the matter further and until a satisfactory outcome is reached.

Once we have completed our investigation into the complaint in question, we will notify you of the outcome.

We will endeavour to resolve your complaint to your satisfaction through our internal complaint procedures. If however you are not satisfied with the result of this process you may wish to refer the complaint to the Financial Services Ombudsman. The Ombudsman will only investigate the complaint after it has been through our internal procedure so it is important that you allow us the opportunity to resolve your complaint first.

You can contact the Ombudsman at the following address and telephone number:

Financial Services Ombudsman,
3rd Floor, Lincoln House,
Lincoln Place,
Dublin 2

Lo–Call 1890 882090 or (01) 662 0899

	CONSUMER PROTECTION CODE 2012
	Warning: If you do not keep up your repayments you may lose your home.		Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
	Fixed Rate Mortgages:		Variable Rate Mortgages:
	Warning: You may have to pay charges if you pay off a fixed rate loan early.		Warning: The cost of your monthly repayments may increase.
	Interest-only Mortgages:		Debt Consolidation Mortgages:
	Warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period.		Warning: This new loan may take longer to pay off than your previous loans and you may pay more than if you paid over a shorter term.

	CONSUMER CREDIT ACT WARNING YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME. Security and insurances required. The maximum percentage of the value of the property which will normally be advanced is 75% and is subject to credit references. Loan amounts are subject to monthly repayments not exceeding 35% to 40% of the borrower(s) disposable income. A typical variable rate mortgage of €100,000 over 20 years costs €699.23 per month (APR 5.92%). The effect of a 1% increase in interest rates for such a mortgage will increase the monthly repayment to €757.39 (APR 6.99%), an increase of €58.16 per month.