The Department of Housing, Planning and Local Government in partnership with the Housing Agency with input from MABS, the Abhaile Service and ISI has developed a website https://mortgagetorent.ie that serves as a national portal for Mortgage to Rent (MTR) and provide clear, concise and understandable information in order to increase awareness and understanding of the scheme.
What is Mortgage to Rent?
You no longer own your home or have any financial interest in it, but you can continue to live there as a tenant of the local authority or approved housing body. You pay an affordable rent, which is based on your income. So, if your income increases the rent increases, but if your income falls the rent decreases. This means that your rent is always affordable.
Under the scheme, you become a social housing tenant with a right to have your housing needs met by the local authority indefinitely. This means that if your needs change, the local authority will provide alternative accommodation that meets your changed needs. Any change to your housing circumstance will be made in consultation with you. If your financial situation improves, you have an option to buy your home back. Please click on the link here for more detailed information.
Posted: February 2019