Up to 31 December 2016, a total of 3,575 cases have been submitted under the Mortgage to Rent (MTR) Scheme, which was introduced in 2012 for borrowers of private commercial lending institutions. Of these, 2,723 were ineligible or terminated during the process, 217 have been completed and 635 are being actively progressed. The reasons why a case has not progressed are varied and can depend on the lender, the property, the household and the ability of the Approved Housing Body sector to increase their involvement in the scheme. Statistical information relating to the Mortgage to Rent Scheme since its inception, including statistics on cases that have been terminated and the reasons for same and a breakdown of cases per County, is available on the Housing Agency’s website at the following weblink: https://www.housingagency.ie/Our-Services/Housing-Supply-Services/Mortgage-to-Rent.aspx.
A number of amendments were made to the MTR Scheme in July 2015 to enable more properties to qualify and to make the scheme more flexible and accessible to borrowers.
Notwithstanding the amendments already made, the Government is committed to supporting households in long-term mortgage arrears to remain in their homes and has included a review of the MTR Scheme as an action in Rebuilding Ireland: An Action Plan for Housing and Homelessness. The review, now in its final stages, is examining how the scheme can work better for borrowers; details of the outcome of the review will be announced in due course.