200% Jump In Number Of Mortgage To Rent Applicants In Clare

Housing, Mortgages

There’s been an increase of around 200% in the number of struggling Clare homeowners signing up for the Mortgage to Rent Scheme.

New figures from the Central Bank show that over 700 family home loans are in arrears for two years or more, while 26 Mortgage to Rent cases have either been completed or are being actively progressed.

The government scheme sees those who are in mortgage difficulty switch from owning their home to renting the house as social housing tenants.

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The cap for the scheme was recently increased too and Paul Cunningham of Home For Life, the only Government-approved private Mortgage to Rent operator, says it’s important that those in trouble reach out: