More funding has been provided to Clare County Council to bring repossessed homes into its social housing stock than any other local authority in the region.
The local authority here has received over €667,000 from the government since 2013.
Clare FM’s Gavin Grace reports:
Under the Mortgage to Rent Scheme, a total of €667,614 has been awarded to Clare County Council in the past six years to bring ten homes into its social housing stock.
In each case, these dwellings had unsustainable mortgages and through co-operation with the local authority, the borrowers were able to remain in their houses.
The figure in Clare is the highest in the Midwest region – more than seven times the total for the entire city and county of Limerick, which saw just €80,000 granted for this purpose, and also some quarter of a million more than Tipperary.
The Mortgage to Rent Scheme sees a mortgage transferring to a rental arrangement, where the tenant pays an affordable rent related to their income while the Council will maintain the dwelling.
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CCC Statement
Clare County Council received capital funding of €667,614 to bring 10 no. houses into our social housing stock. These are dwellings which had unsustainable mortgages, and through close co-operation with the borrowers involved, the Council facilitated the households in remaining in their own homes. The Mortgage to Rent Scheme is one of the possible resolutions where the mortgage is deemed unsustainable and allows the families involved to continue to live in their own house and by transferring to a rental arrangement they can pay an affordable rent which is related to their income while the Council will maintain the dwelling. This resolution was agreed by all parties and was welcomed by the homeowners who were at risk of losing their homes.
