Thomas Gould
Question:397. Deputy Thomas Gould asked the Minister for Housing, Local Government and Heritage the number of mortgage-to-rent approvals in 2023, by provider, in tabular form. [54815/23]
View answerTuesday, 12 December 2023
Questions (397)
Written answers
The 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.
Under the MTR scheme, the borrower surrenders their property to their lender and it will be then sold to an MTR provider who can be either an Approved Housing Body (AHB) or since 2018, a private company. The AHB or local authority (in the case where the property is sold to a private company) becomes the landlord and the borrower remains in the property as a tenant paying a differential rent to the landlord based on his or her income.
To the end of September 2023, a total of 2,258 households with unsustainable private mortgages have completed the MTR process and 521 cases are being actively progressed. A total of 6,452 individuals are benefitting from the scheme, which comprises of 3,573 adults and 2,879 children. A total of 144 cases were completed between January 2023 and end September 2023. The providers associated with those completed cases are broken down as follows.
|
MTR Provider |
Completed Cases January - September 2023 |
|
Home for Life |
122 |
|
iCare Housing |
18 |
|
Tuath Housing Association |
3 |
|
Respond Housing Association |
1 |
The Housing Agency publishes, on a quarterly basis, detailed statistical information on the operation of the MTR scheme including a breakdown of the number of cases by MTR provider. This information is available on the Housing Agency's website at the following link: www.housingagency.ie/housing-information/mortgage-rent-statistics.