Why is Start Mortgages intending to transfer my mortgage(s)?
Start Mortgages has signed an agreement (subject to certain conditions) further to which it intends to transfer all of the regulated credit servicing activities it carries out with respect to your mortgage(s) and the ownership of your mortgage(s) to Mars Capital Finance Ireland DAC (“Mars Capital”).
On what basis can Start transfer my mortgage(s)?
The intended transfer of your mortgage(s) is permitted under the terms of your mortgage(s). We wrote to you on 25th March 2024 to notify you of the intended transfer.
When will my mortgage(s) transfer to Mars Capital?
Your mortgage(s) is intended to transfer to Mars Capital later in 2024, but no earlier than the end of May 2024.
Who is Mars Capital?
Mars Capital is a Credit Servicing Firm and has been regulated by the Central Bank of Ireland since 2017.
How can I contact Mars Capital?
You should continue to contact Start Mortgages until the intended transfer of your mortgage(s) completes. You can contact us on 0818 220 666. Our lines are open from 9am until 8.30pm Monday to Friday and from 9am to 4pm on Saturday.
When the intended transfer completes, you will receive letters from Start Mortgages and Mars Capital with their contact details.
How does the intended transfer affect me?
Your contractual rights under your mortgage(s) will not change. You will continue to enjoy the same protections under relevant consumer protection regulations and codes after the intended transfer as you had before.
What action do I need to take?
You do not need to take any action at this time other than to continue to pay amounts due under your mortgage(s) to Start Mortgages.
Where can I find more information?
When the intended transfer completes, you will receive letters from Start Mortgages and Mars Capital which will provide you with all of the information you need to contact Mars Capital in the future.
Until that time, please contact Start Mortgages in the normal way. You can contact us on 0818 220 666. Our lines are open from 9am until 8.30pm Monday to Friday and from 9am to 4pm on Saturday.
Revocation Queries
After the intended transfer, will Start Mortgages continue to carry out regulated activities?
Following the transfer, Start Mortgages intends to cease operating and have its licence with the Central Bank of Ireland revoked.
What should I do if I have an issue or complaint with Start Mortgages?
If you have any issues or complaints with Start Mortgages, we advise you to notify us as soon as possible so that they can be addressed in a timely manner. You can contact us on 0818 220 666. Our lines are open from 9am until 8.30pm Monday to Friday and from 9am to 4pm on Saturday.
Start will be retaining professional indemnity insurance in order to cover claims that borrowers may make against Start following the revocation of its licence.