Helpful Information

Helpful Information

The Mortgage to Rent (MTR) scheme

Mortgage To Rent Housing Agency Ireland - Topcomhomes

The Mortgage to Rent (MTR) scheme.

What is Mortgage to Rent?

The Mortgage to Rent (MTR) scheme is a government scheme to help homeowners who are at risk of losing their homes due to mortgage arrears. It lets homeowners in mortgage difficulty switch from owning their home to renting their home as social housing tenants. The scheme is overseen by the Department of Housing, Planning and Local Government and is administered by the Housing Agency.

The MTR scheme is a social housing option only available if you are eligible for social housing support and your mortgage is unsustainable.

Under the scheme, you voluntarily surrender ownership of your home to your mortgage lender. This means that you give up ownership of the property. Under the MTR scheme an Approved Housing Body or private company can buy your home after you voluntarily surrender it to your lender. Approved Housing Bodies (AHBs) are independent, not-for-profit organisations, also known as housing associations or voluntary housing associations. They provide affordable rented housing for people who cannot afford to pay private sector rents or buy their own homes. Private companies are approved by the Department of Housing Planning and Local Government for the delivery of the MTR scheme and have been set up for this specific purpose and are registered with the Companies Registration Office.

You no longer own your home or have any financial interest in it, but you can continue to live there as a tenant of the local authority or approved housing body. You pay an affordable rent, which is based on your income. So, if your income increases the rent increases, but if your income falls the rent decreases. This means that your rent is always affordable.

Under the scheme, you become a social housing tenant with a right to have your housing needs met by the local authority indefinitely. This means that if your needs change, the local authority will provide alternative accommodation that meets your changed needs. Any change to your housing circumstance will be made in consultation with you.

If your financial situation improves, you have an option to buy your home back.

You can approach your lender and ask to be considered for MTR. The Abhaile service can assist you with this. If your lender does not consider you suitable for MTR, they must inform you of the reason(s) in writing.


Benefits of the Scheme

Peace of mind for you and your family to remain living in your home, without disruption to your family life, in line with the terms of your tenancy agreement.

You will pay a rent which is affordable as it is based on your income.

The proceeds from the sale of your home go towards your mortgage debt and you come to an arrangement with your lender for remaining debt, if any.

Potential option to buy back your home if your situation improves.

A third party will look after property maintenance issues as set out in your tenancy agreement.


Do I qualify for MTR?

To take part in the scheme you must be able to answer Yes to the following questions


Are you unable to make the repayments on your Mortgage Loan and is this situation unlikely to change in the future?
Are you engaging with your lender to try to find a solution to the situation?
Have you completed the Mortgage Arrears Resolution Process (MARP) with your lender? MARP is a system that requires lenders to adhere to a process for borrowers who fall into arrears with their mortgage.


Is your property in negative equity or within the limits of positive equity allowed under the scheme? (i.e. equity is no more than 10% of the Open Market Value to a maximum of €15,000).
Is your family home the only property you own?
Are you living in a property that suits your needs i.e. not be over or under-accommodated, in accordance with Local Authority guidelines plus two bedrooms?
Is the value of your property no more than €395,000 for a house and €310,000 for an apartment or townhouse in the areas of Dublin, Kildare, Meath, Wicklow, Louth, Cork and Galway and €305,000 for a house and €220,000 for an apartment or townhouse in the rest of the country?


Are you eligible for Social Housing Support in the local authority in whose area the house is located?
Is your income below €25,000*, €30,000* or €35,000* a year, depending on what part of the country you live in? (net household income is the household income after taxes and social insurance (PRSI) have been taken off). (*Additional allowances for children, you can obtain more information from your local authority on this).
Are your capital assets worth less than €20,000?
Do you have a long-term right to remain in the Republic of Ireland?

Full details of the MTR scheme along with frequently asked questions, borrowers’ stories and the benefits of the scheme can be found at

The Construction Industry Federation (CIF)
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Monday, 26 February 2024

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