Document background
The First Payment Letter Mortgage is a mandatory document in Irish mortgage lending that must be issued to borrowers after their mortgage has been drawn down. It forms part of the suite of mortgage documentation required under Irish banking regulations and the Consumer Protection Code. This document is typically issued immediately after mortgage completion and serves multiple purposes: it confirms the exact amount and date of the first mortgage payment, establishes the regular payment schedule, provides account details for payments, and includes mandatory regulatory notices. The letter is essential for compliance with Irish mortgage lending requirements and ensures borrowers have clear written confirmation of their payment obligations from the outset of their mortgage.
