Struggling Clare homeowners have been given a lifeline, with confirmation that the mortgage to rent scheme has been extended.
The government scheme lets homeowners in mortgage difficulty switch from owning their home to renting their home as social housing tenants.
The upper valuation limit for Clare homes has now been increased to €305,000 – up €25,000 from the previous cut off.
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A total of 735 households in Clare were in arrears for two years or more at the end of last year and Stephen Curtis of mortgage to rent operator Home For Life says this will change things for those who were out of reach of it before.
