St. Finian’s Crescent, Lucan, Co Dublin
Fianna Fáil Minister for Housing, Local Government and Heritage, Darragh O’Brien, announced a number of ‘significant improvements’ to the ‘Mortgage to Rent’ (MTR) scheme.
The scheme allows a social landlord to buy your home allowing you to stay as a tenant and complete mortgage payments to the council or housing association.
Key changes comprise:
An increase to the positive equity limit, which is being adjusted by region to align it with the range of house prices and market conditions across the regions
Purchase price thresholds updated to take account of current market conditions
Additional flexibility in the number of allowable bedrooms in a dwelling – this will apply for borrowers aged 65 and above, and borrowers who have a disability, or where a dependant has a disability
Minister O’Brien was joined at the announcement by Dean Kehoe, a beneficiary of the scheme through iCare Housing, one of the non-profit Approved Housing Bodies (AHBs) who participate in the MTR scheme.