Need help with your Financial Statement?

Financial difficulties can happen to anyone. If you have a mortgage or a loan and you’re worried about falling behind with your repayments, we are here to help. To give us a full understanding of your financial situation, you will need to complete a Financial Statement so we can assess if any of our alternative repayment arrangements are suitable for you.

Which Financial Statement do I need to fill out?

There are two types of financial statements, the Income & Expenditure (I&E) and Standard Financial Statement (SFS).

Standard Financial Statement (SFS)

The information required to complete the SFS, and I&E are the same. The only difference is the SFS is used by borrowers in the Mortgage Arrears Resolution Process (MARP) and explains the steps in the process that are applicable to cases in the MARP.

Income & Expenditure (I&E)

The I&E asks you to provide similar information to the SFS but is for use on accounts which are outside the protections of MARP. If you are a Buy-to-Let mortgage customer, you will always be asked to complete an I&E form.

What is MARP?

The MARP stands for the Mortgage Arrears Resolution Process, it sets out how we must communicate with you and assess your situation with the aim of coming to a resolution. Further information on MARP can be found here.

How do I know if I am in or out of MARP?

MARP applies to you if you have fallen into arrears or are in danger of falling into arrears on the mortgage of your primary residence. Pepper will confirm in our correspondence to you if the protections of MARP apply to you.

Why do I need to complete a Financial Statement?

This SFS or I&E helps you set out your financial situation by setting out your average monthly income and expenditure along with any debts that you owe. Understanding your situation fully allows us to assess your overall individual circumstances.

How do I complete the Financial Statement?

Start by reading through the Financial Statement and gathering all your relevant information, including bills, receipts, and documents. You should include all your basic living expenses. Completing one of these forms is useful as it may help you to think of ways to reduce your expenses.

There are a few ways you can fill out the Financial Statement.

1

If you are a MyPepper customer, you can complete the SFS/I&E online, where you can save it and return to it later.
2
Download a copy here. You can complete this form in the following ways:
1. Filling in the SFS or I&E online, before printing it out, signing it and posting it to us
  
  OR
2. Printing out a blank copy of the SFS or I&E from our website and completing by hand, then posting to us.
3

Completing the SFS or I&E booklet which was provided to you by Pepper and posting it back to us.

Please fill out all sections of the Financial Statement fully and accurately. Any missing sections will slow down the assessment of your Financial Statement. It is important to note the Financial Statement form can take a while to complete as it is quite comprehensive. Additionally, ensure all borrowers named on the loan account have signed and dated the signature section.

What documents do I need on hand to complete the Financial Statement?

These documents provide you with valuable information about your expenses, spending, income, and personal circumstances. It is useful to have these on hand to help you complete the Financial Statement, it is also helpful to have a calculator on hand while filling in the form. It is important to bear in mind the Financial Statement requires monthly averages. Helpful documents can include, but are not limited to:

Most recent payslips if you are PAYE worker
Bank statements
Business accounts if you are self employed
House insurance bill
Utility bills
Any other debt statements

We may request supporting documentation to fully assess your situation. We will advise you of this during the assessment process.

Tips for completing the Financial Statement

To make it manageable for you the Financial Statement can be completed in your own time. It is broken down into multiple sections, and you can save and return to later.
It is important that all sections are completed as we may need to contact you to confirm any missing information. If there is a section that does not apply to you, please write N/A in large letters across that section.
Check if your payments are made weekly, monthly, or yearly. The Financial Statement asks for monthly average payments. For example:
- Income: If you receive a weekly wage, multiply the net amount by 52 (weeks in a year) and then divide by 12 to calculate the monthly average.
- Expenditure: If you have a bill, you pay every 2 weeks multiply the bill amount by 26 and divide by 12 to get the monthly average payment of that bill.
Keep an eye out for ad-hoc or yearly or seasonal payments e.g. TV licence, back-to-school costs.
To find out the total balance and your mortgage repayment amount, you can check online on MyPepper or contact us to get this information.
Please ensure all borrowers named on the loan account have signed and dated the signature section.

What are the next steps after I submit my completed Financial Statement?

When we receive your completed Financial Statement, our Arrears Support Unit (ASU) will review it, and we will send a copy back to you in the post.
We will need to establish if we have all the information needed to fully understand your personal circumstances and to find a solution that is suitable for you. To do that we may need to contact you to verify the information in your Financial Statement and we may have a few additional questions for you.
If we need additional documentation from you, it will be requested at this stage.
Once we have all required information, we will complete an assessment based on your financial circumstances. Some of the options that may be available to you can be found here.
When a decision has been made, we will contact you.

Other supports available to you if you need help completing the Financial Statement

Consumer Guide to Completing the Standard Financial Statement: The Central Bank of Ireland published this guide to assist borrowers with the completion of the SFS. This guide is useful as the SFS and I&E forms we use for regulated or unregulated cases in arrears – whether for a primary residence or a BTL – require similar information. Click here to download a copy of the guide.
The Reasonable Living Expenses Guidelines: The Insolvency Service of Ireland published guidance which helps ensure a reasonable standard of living is maintained, whilst debt problems are addressed. The guidance and a Reasonable Living Expenses Calculator are available here.
Your credit report: provides information regarding any outstanding loan(s) you may have and is available from the Central Credit Register. It can be requested free of charge via the Central Credit Register website.
Independent advice: You may prefer to seek independent advice from your financial advisor or from MABS (the Money Advice and Budgeting Service). MABS is a national, free, confidential and independent advice service for people in debt difficulties or in danger of getting into debt difficulties. You can contact the MABS Helpline on 0818 07 2000 Monday to Friday 9am – 8pm.The MABS Guide to the Code of Conduct on Mortgage Arrears is available at www.mabs.ie. It will help you to complete the SFS or I&E. The Useful Contacts section provides details on MABS and other useful contacts.
Speak to us: We have a dedicated team who can support you in completing your Financial Statement. We provide help over the phone at 0818 818 181. Or, if you prefer to meet in person, we can arrange a suitable time and location for a meeting at our offices in Dublin or Shannon, whichever you choose, we will ensure to maintain your privacy.
General queries: If you have general queries about your mortgage with Pepper which are not addressed here, our FAQ section may be able to help you.