Seán Canney (Galway East, Independent)
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321. To ask the Minister for Housing, Planning, and Local Government if he is satisfied with the mortgage to rent scheme; if it is working as designed; if his attention has been drawn to the fact a bank (details suppled) is withdrawing from the scheme; and if he will make a statement on the matter. [3985/23]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The Mortgage to Rent (MTR) scheme allows an Approved Housing Body (AHB) or since 2018 a private company, Home for Life, acquire ownership of a property with an unsustainable private mortgage from a lender and enables the household to remain in their home as a social housing tenant. The scheme is an established part of the overall suite of social housing options and an important part of the Mortgage Arrears Resolution Process (MARP). Along with other eligibility criteria, the household must qualify for social housing.

To the end of December 2022, a total of 2,114 households with unsustainable private mortgages have completed the MTR process and 534 cases are being actively progressed. A total of 6,078 individuals are benefitting from the scheme, comprising 3,350 adults and 2,728 children.

A review of the scheme was conducted in 2021. The review concluded that the scheme is performing well overall and identified some additional enhancements to further strengthen its operation and accessibility. Progress on a number of actions within the review are underway. The review is available at: www.gov.ie/en/publication/ed57b-2021-review-of-the-mortgage-to-rent-scheme-for-borrowers-of-commercial-private-lending-institutions/ 

My Department is not aware of a particular lender withdrawing from the MTR scheme and understands that they continue to be an active stakeholder within the scheme. The Housing Agency publishes, on a quarterly basis, detailed statistical information on the operation of the MTR scheme including a breakdown of the number of cases by lender and that lender has a number of active cases presently. This information is available on the Housing Agency's website at the following link: www.housingagency.ie/housing-information/mortgage-rent-statistics

The decision to purchase a property under the MTR scheme is a matter for the MTR provider, which can be either an AHB or Home for Life. My Department cannot compel a lender to sell a particular property or an MTR provider to purchase a particular property. There is an onus on lenders to advise borrowers in writing as to why MTR may not be an option in a particular case.  Where MTR is not an option, it is a matter for the borrower to discuss with their lender if there are other options available to resolve their mortgage arrears situation. For any borrower in in danger of losing their home and are not successful under the MTR scheme, they should engage as early as possible with their local authority regarding their housing needs.

My Department also encourages any borrower in mortgage arrears, if they have not already done so, to engage with the Abhaile scheme. The Abhaile scheme is available to borrowers in mortgage arrears and provides a range of services free of charge to borrowers including access to independent expert financial advice, legal advice and insolvency advice.  A dedicated adviser will work with the borrower and lender to find the best solution. Abhaile is operated by the Money Advice and Budgeting Service (MABS) who can be reached by telephoning 0761 07 2000 (9am - 8pm, Monday - Friday) or by contacting the local MABS office.