Information for Home Owners Experiencing Ongoing Difficulties with their Mortgage
What is Mortgage to Rent?
The Mortgage to Rent (MTR) scheme is a government scheme to help homeowners who are at risk of losing their homes due to mortgage arrears. It lets homeowners in mortgage difficulty switch from owning their home to renting their home as social housing tenants. The scheme is overseen by the Department of Housing, Local Government and Heritage and is administered by the Housing Agency.
In all cases you initially approach your lender to discuss this option. An overview, including qualification criteria of this is supplied on the Housing Agency website: -
Mortgage to Rent Scheme | The Housing Agency
The MTR scheme is a social housing option only available if you are eligible for social housing support and your mortgage is unsustainable.
You can approach your lender and ask to be considered for MTR. The Abhaile service can assist you with this. If your lender does not consider you suitable for MTR, they must inform you of the reason(s) in writing.
The MTR process is outline in the MTR Step by Step Process Chart.
If you have your mortgage with a local authority, you voluntarily surrender ownership of your home to your local authority who will then rent it back to you. Read more about local authority MTR.
Who should I contact?
For additional information and to see if you are eligible for MTR contact your lender as they will be the main point of contact throughout the process.
For all other mortgage related queries contact the Money Advice and Budgeting service (MABS) on 0818 07 2000 lines are open from 9am to 8pm Monday to Friday.
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