Latest figures from The Housing Agency show that householders in Donegal are benefiting from the Government’s Mortgage to Rent scheme.
According to the Central Bank, over 1,100 family home loans in the county are in arrears for two years or more, while 13 Mortgage to Rent cases are being actively progressed.
The scheme aims to keep homeowners with unsustainable debt in their current properties debt-free as long-term tenants of their local authority.
Paul Cunningham, CEO of Home For Life says lenders and funds are now showing a greater willingness to use the Mortgage to Rent scheme as an alternative to repossessing family homes:
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