36 Kerry homeowners engaged in Government’s Mortgage to Rent scheme

Paul Cunningham, CEO, Home For Life

36 Kerry homeowners at risk of losing their homes due to arrears have engaged in the Government’s Mortgage to Rent scheme.

It’s expected more people will join the scheme following a recent rise in eligibility values in the county.

The Mortgage to Rent scheme is overseen by the Department of Housing, Planning and Local Government and is administered by the Housing Agency.

It helps homeowners in mortgage arrears switch from owning their home to renting it as social housing tenants.

Central Bank figures show there are over 600 family home loans in Kerry in arrears for two years or more, while 36 Mortgage to Rent cases have either been completed or are being progressed.

Home for Life, the only Government-approved private Mortgage to Rent operator, says a recent rise in eligibility values in Kerry to €305,000 could see engagements in the scheme dramatically increase in the coming months

CEO of the organisation, Paul Cunningham is appealing to families in mortgage arrears to engage with their lender, their local MABS officer, or a Mortgage to Rent provider.