Dáil Éireann Debate, Tuesday - 16 April 2013
749. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government if he will provide details of the eligibility criteria that apply to borrowers who wish to avail of the mortgage to rent scheme; and if he will make a statement on the matter. [16095/13]
View answerHouseholders seeking to avail of the mortgage to rent scheme must:
- have been involved in the Mortgage Arrears Resolution Process (MARP) with their lender and agree that they can no longer afford to pay their mortgage loan now or in the future;
- own the property they live in, with a current market value of less than €220,000 in the Dublin area or less than €180,000 in the rest of the country;
- have their property in good condition, in a suitable location and which must suit their current needs;
- not own any other property or have assets in excess of €20,000;
- have household income not exceeding €25,000, €30,000 or €35,000 a year, depending on what part of the country they live in (household income in this context is net of taxes and social insurance (PRSI)); and
- the borrower must have a long-term right to remain in Ireland.
