Dáil Éireann Debate, Tuesday - 25 June 2024
230. Deputy Francis Noel Duffy asked the Minister for Housing, Local Government and Heritage the number of tenants under the mortgage-to-rent scheme who have bought back their homes from approved housing bodies. [26764/24]
Amharc ar fhreagraThe Mortgage to Rent (MTR) scheme is targeted at those households in acute mortgage arrears who have had their mortgage position deemed unsustainable by their lender under the Mortgage Arrears Resolution Process (MARP), and who have very limited options, if any, to meet their long-term housing needs.
To date, my Department is aware of 11 properties which have progressed, or are progressing through, the buy-back process within the MTR scheme. It is not anticipated that there will be significant numbers availing of the buy back option, because the MTR scheme is targeted at those borrowers with little or no prospect of a significant change in their financial circumstances and who have previously fallen into a level of mortgage arrears deemed unsustainable by their lender.
The two buyback options available for MTR properties are set out in full in the document 'A Guide to the Mortgage to Rent Scheme' which is available at the following link : www.housingagency.ie/sites/default/files/2019-03/HA-Mortgage-To-Rent-Guide-2019-Web_0.pdf.
