Darragh O'Brien (Dublin Fingal, Fianna Fail)
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Both the Programme for Government and Housing for All commit to strengthening the Mortgage to Rent (MTR) scheme and ensuring that it is helping those who need it. Building on the significant amendments already made to the scheme in 2017, the 2021 Review, which was published on the 24 January 2022, examined the impact of these changes and what further changes would benefit those in need of the scheme. While the scheme is performing well, it was assessed that some further enhancements were needed to enable more households in need of State support with their long-term housing needs to avail of this scheme.

One key priority action of the Review was to broaden the eligibility criteria of the scheme and this was implemented in February 2022. These include changes to the positive equity and property acquisition limits and more flexibility on over-accommodation where a member of the household is aged 65 or over, or has a disability.

The increase in the income threshold for social housing has also opened the MTR scheme up to more borrowers because households entering Mortgage to Rent must qualify for social housing support. These changes have enabled borrowers who would not have previously been eligible, to apply for the scheme, .

My Department, in conjunction with the Housing Agency is currently running an Expressions of Interest (EOI) process which invited participants from both the private and Approved Housing Body (AHB) sector to put forward their interest in becoming MTR providers who can deliver the scheme at scale. This EOI process is necessary for the long-term sustainability of the scheme and will offer lenders more providers with whom they can engage and process cases. The results of this process will be announced shortly.

Full details of the recommendations and associated actions are outlined within the 2021 Review of the Mortgage to Rent (MTR) scheme for people who have borrowed from commercial private lending institutions and this review is available on my Department's website under Publications: .

There are currently no plans to further widen the eligibility criteria for the scheme.