Number of Limerick households to remain in their homes due to Mortgage to Rent Scheme
A NUMBER of Limerick households are to remain in their homes due to the Mortgage to Rent Scheme.
Mortgage to Rent helps people who are at risk of losing their homes due to mortgage arrears.
So far 69 households have successfully received the Mortgage to Rent Scheme with another 17 applications still active.
The 2,030 cases completed nationwide to date (since the scheme commenced in 2012) are benefitting 5,910 people (3,249 adults and 2,661 children).
The Minister urged anybody who is at risk of losing their home in Limerick to consider the scheme and also engage with the other Government supports and advice available.
Minister for Housing, Local Government and Heritage, Darragh O’Brien said: “Mortgage to Rent provides a solution to a complex problem by giving a person or family the option of remaining in their own home despite acute mortgage difficulties.
“As a Government, we want to keep as many people in their homes where it is sustainable and the Mortgage to Rent scheme supports that objective.
“While it is welcome news that 69 applications have been completed in Limerick, and nationally almost 6,000 people have been assisted to stay in their homes through the Mortgage to Rent scheme, we know that there are more families out there who need our support and we want to help them,” Minister O’Brien said.
The scheme offers households in acute, unsustainable mortgage arrears situations, with little or no prospect of a significant change in circumstances, the chance to surrender the property to a lender and in turn, become a social housing tenant whilst staying in their own home and community.
As part of the scheme, the home will be brought up to private rental standards.