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ARTICLE · 11 APRIL 2018

Mortgage To Rent Scheme – An Alternative To Repossessions?

Mason Hayes & Curran LLP
Mason Hayes & Curran LLP
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Mason Hayes & Curran LLP

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It has been six years since the Mortgage to Rent Scheme was introduced by the Irish Government. We review its progress so far and how recently implemented Government actions ...

IrelandFinance and Banking
Rachel Carney
Rachel Carney
Emer O’Callaghan
Emer O’Callaghan
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It has been six years since the Mortgage to Rent Scheme was introduced by the Irish Government. We review its progress so far and how recently implemented Government actions can help to streamline the process and increase the number of lenders and borrowers availing of the scheme.

What is the MTR Scheme?

Under the MTR Scheme, borrowers who are in mortgage arrears go from being a homeowner to becoming a social housing tenant of an Approved Housing Body, or AHB. The property is sold to the AHB which in turn leases the property back to the borrowers.

The MTR Scheme is administered by the Housing Agency, on behalf of the Department of Housing, Planning and Local Government. Funding for the Scheme is provided through:

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