Dáil Éireann Debate, Thursday - 6 July 2023
238. Deputy Thomas Gould asked the Minister for Housing, Local Government and Heritage the number of mortgage-to-rent applications approved to date in 2023; and the number approved in the same period in 2022. [30086/23]
View answerThe Mortgage to Rent (MTR) scheme was introduced in 2012 for borrowers of commercial lending institutions and is targeted at those households in mortgage arrears who have had their mortgage position deemed unsustainable by their lender under the Mortgage Arrears Resolution Process (MARP), who agree to the voluntary surrender of their home and who have very limited options, if any, to meet their long-term housing needs themselves. In addition, the household must be deemed eligible for social housing support. The concept of the scheme is that a household with an unsustainable mortgage goes from being a homeowner to being a social housing tenant.
To the end of March 2023, 2,130 households with unsustainable private mortgages have completed the MTR process, since its introduction in 2012. 16 of these households completed the MTR process in Q1-2023. This compares to a completion rate of 98 for the same period in Q1-2022.
