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ROI Customers

Information and advice for Dealers, Customers and SMEs in the Republic of Ireland

We’re closely monitoring developments around the spread of Coronavirus and below you can find answers to our most frequently asked questions

Finance in Ireland

Finance in Ireland

Close Brothers use First Auto Finance Ireland Ltd as our exclusive agent for motor finance in the Republic of Ireland. If you can’t find the information you need on this page, please contact First Auto Finance with your specific enquiry.

First Auto Finance Ireland Ltd,
85 Pembroke Road,
Ballsbridge,
Dublin 4,
DO4 YN53,
Ireland.

Tel: +353 (0) 1 647 0240
Email: [email protected]

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Coronavirus - Information and FAQs

At Close Brothers Motor Finance together with our partner in Ireland First Auto Finance, we're closely monitoring developments around the spread of Coronavirus (COVID-19), and we've been making the necessary changes to our business to ensure we're able to support you through this difficult time.

Do you have concerns about loan repayments?

We are doing what we can to support you during this unprecedented and challenging time.   

If you are experiencing financial difficulty or have concerns about loan repayments, please click here and our partner First Auto Finance will contact you to discuss your situation.


Yes, you should continue to make payments as you would normally. 
However, if you are experiencing financial difficulty or have concerns about loan repayments, please click here and our partner First Auto Finance will contact you to discuss your situation.

As part of the measures we have taken to support our customers affected by Coronavirus, we may consider a payment holiday. If you have concerns about meeting your loan repayments, please click here and our partner First Auto Finance will contact you to discuss your situation.

Yes, you’ll still be able to hand back your vehicle. One of our team will contact you in due course to arrange collection, once the current restrictions around movement are lifted by the Government. If you would like to discuss this with us before we contact you, please email us at [email protected] with your name, agreement number and/or vehicle registration.

Yes, you can still voluntarily terminate your agreement subject to the terms and conditions of your agreement. Please email us at [email protected] with your name, agreement number and/or vehicle registration and we will arrange collection of your vehicle once the current restrictions around movement are lifted by the Government.

If you are experiencing financial difficulty or have concerns about loan repayments, please click here and our partner First Auto Finance will contact you to discuss your situation.

If you are experiencing financial difficulty or have concerns about loan repayments, please click here and our partner First Auto Finance will contact you to discuss your situation.

We will not record the payment(s) as missed on the central credit register or ICB for the period of the agreed payment holiday.

If you miss a repayment this will be reflected in your credit report however, if a payment holiday is agreed this will not be reported as a missed repayment on your credit report.

However, if you were in arrears prior to a payment holiday being applied to your account that arrears position will remain unchanged. 

For Example: If you were 1 payment in arrears and a payment holiday is applied to your account at the end of the payment holiday you will still be 1 payment in arrears unless the arrears are cleared during the period of the payment holiday.
 

If you are experiencing financial difficulty or have concerns about loan repayments, please click here and our partner First Auto Finance will contact you to discuss your situation.

However you may wish to seek independent advice from Money Advice & Budgeting Services (“MABS”). The contact details for the MABS National Helpline are as follows:

Telephone: 0761 07 2000 (Mon-Fri from 9am to 8pm)
Website: www.mabs.ie

Unfortunately, due to the number of customers that wish to speak to us about their agreement, we’re seeing much higher numbers of calls and far longer wait times than usual. We apologise for the inconvenience this will be causing you and our team are working hard to answer your calls. 

Due to the volume of emails that we are currently receiving, it is taking us longer than usual to respond. Please rest assured, we will contact you and there is no need to recontact us. We apologise for the inconvenience this will be causing and will respond to you as soon as possible.

If you want to pay off your entire finance agreement early, you can request a settlement quote.  Please contact our partner First Auto Finance on 
Tel: +353 (0) 1 647 0240
Email: [email protected]

Yes. All customers will receive an email confirmation when their payment holiday has been processed.

The Central Credit Register (CCR)

The Central Credit Register (CCR) is a database of personal and credit information to be created by means of a national mandatory credit reporting system being established by the Central Bank of Ireland (CBI) in line with the Credit Reporting Act 2013

  • The information collected will help lenders, consumers and the CBI in its role of safeguarding stability and protecting consumers. 
  • Lenders will be able to use the information to get a more detailed picture of a consumer’s credit history, which will help them to make decisions about finance applications. 
  • Consumers will have the opportunity to see what credit information lenders hold about them. 

The Government in Ireland gave a commitment, as part of the EU/IMF Programme of Financial Support, to develop a legal framework that would facilitate the collection and centralisation of credit information on borrowers. The CCR will contribute to consumer protection and financial stability by: 

  • Providing borrowers with an individual report detailing their credit agreements 
  • Providing lenders, such as Close Brothers Motor Finance, with comprehensive information to support credit assessments 
  • Providing the CBI with better insights into financial markets and supporting functions of the Central Bank of Ireland 

Following an amendment to the Credit Reporting Act 2013, data on hire purchase, leasing and other credit agreements previously excluded from the scope of the CCR, is now reportable. Therefore, from 30 June 2019, Close Brothers Motor Finance will have a legal obligation to report credit agreements, where the principal amount of the credit agreed to be provided is €500 or greater, to the CCR.  Therefore if you have a credit agreement with Close Brothers Motor Finance in force on 30 June 2019, your credit agreement and details will be reported to the CCR. 

Further, where a customer makes a credit application of €2,000 or more, Close Brothers Motor Finance will have a duty to make an enquiry to the CCR in respect of that customer prior to making a decision whether to grant the credit. 
 

Under the CCR definitions, we will need to verify data for: 

  • Customers who are individuals 
  • Customers who are sole traders 
  • Customers who are not individuals (Businesses) 
     

From 30 June 2019, Banks and finance providers, such as Close Brothers Motor Finance will require ID&V documents to be provided as part of all new credit applications for individuals. This will include PPSN (Personal Public Service Number) for individuals, which we are required to obtain under the Credit Reporting Act 2013.

Yes – all banks, credit providers and money lenders will need to adhere to the new regulations. The timeframe in which to implement changes may vary depending on the type of firm. 

Information on the CCR can be found at the following sites: 

  • https://www.centralbank.ie/consumer-hub/explainers/what-is-central-credit-register 
  • https://www.centralcreditregister.ie 
  • https://www.centralcreditregister.ie/media/1083/a-consumer-guide-to-the-central-credit-register.pdf 
     
  • You may request a copy of your credit report - this is available free of charge subject to reasonable use
  • Insert an explanatory statement on your credit report
  • Apply to have your information amended, if you believe it is inaccurate, incomplete or not up-to-date
  • Report and be informed of suspected impersonation
Applications for Credit from Small and Medium Enterprises (SME)

Applications for Credit from Small and Medium Enterprises (SME)

If you are considering applying for credit with us, there is some information that you should know in advance.

  1. Once you apply for credit we will normally give you our decision on your application on the same day, however, this can take up to 5 calendar days.
  2. As part of your application we will require information about your business, this may include: business type, legal name, trading as, address, number of employees, company registration number, number of years trading, bank details and financial statements.
  3. In some cases a Business Plan may also be requested to support your application, this plan should include details of your business, the management structure, the market you trade in, future plans for the business and your historic and forecast financial information. We will inform you if this is the case.
  4. If we refuse your application it will not have a negative impact on your credit rating.
  5. We may require security beyond the asset being financed, such as indemnities, guarantees or charges over assets of the applicant, we will inform you if this is the case.
  6. As a SME you are entitled to request a meeting with us to discuss your proposed application for credit.

Information and advice for Small and Medium Enterprises (SME) experiencing financial difficulties

We understand that from time to time some of our customers may face financial difficulties which could affect their ability to re-pay their credit agreement. We have procedures in place for dealing with customers in financial difficulties. The objective of the procedures is to assist customers to resolve their financial difficulties. We have prepared a standard information booklet for customers which provides more detail and guidance on the procedures. You can download a copy of the booklet by clicking here.

We recommend that you read all the information contained in this booklet and contact us as soon as possible if you are, or feel you may shortly be, facing financial difficulties. We have a designated team for dealing with customers in financial difficulties.

Contact the team on:

Telephone: +353 (0) 1 647 0240
Email: [email protected]

First Auto Finance Ireland Ltd,
85 Pembroke Road,
Ballsbridge,
Dublin 4,
DO4 YN53

It’s important that you contact us if your financial circumstances change. The sooner we are informed, the quicker we can begin to help.

Close Brothers Limited (being a UK registered private limited company and its Irish registered branch of the same name having registration number 907899), trading as (and having as registered business names) Close Brothers Premium Finance Ireland, Close Brothers Asset Finance, Close Brothers Commercial Finance, Close Brothers Motor Finance and Braemar Finance, is authorised by the Prudential Regulation Authority in the United Kingdom and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom and is regulated by the Central Bank of Ireland for conduct of business rules. UK registered address: 10 Crown Place, London, EC2A4FT, registered at Companies House, Number 00195626.