Thomas Gould (Cork North-Central, Sinn Fein)
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124. To ask the Minister for Housing, Planning, and Local Government the options available to a person whose property has been valued above a threshold for the mortgage to rent scheme but is facing repossession. [60230/25]

James Browne (Wexford, Fianna Fail)
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The Mortgage to Rent (MTR) scheme is targeted at households in mortgage arrears who have had their mortgage position deemed unsustainable by their lender under the Mortgage Arrears Resolution Process. In order for a borrower to qualify for the MTR scheme, the mortgage, property and household must meet detailed eligibility criteria.

One of the requirements of the scheme is that the property acquisition cost must be below a certain threshold, depending on what part of the country the property is located.

On foot of the 2021 Review of the Mortgage to Rent Scheme, changes were implemented in February 2022 which broadened the eligibility criteria of the scheme, one of which was an increase to the property acquisition limits.

Further increases in the property price thresholds were introduced from 1 November 2024. These changes were made to reflect market conditions in the residential housing sector and to ensure households at risk of losing their homes due to mortgage arrears can continue to avail of the Mortgage to Rent scheme, once all other qualifying criteria is met.

This increase in property price thresholds from 1 November 2024 are set out in the table below:

These changes allow some borrowers, whose property would not previously have met the qualifying criteria for the Mortgage to Rent scheme, to now qualify. There are currently no plans to increase these limits further.

If MTR is not an option for this particular case, I would encourage the borrower to discuss with their lender if there are other options available to resolve their mortgage arrears situation.

My focus, and that of the Government, is to ensure that as many households as possible remain in their homes and I would encourage borrowers to engage with the Abhaile Service, the national mortgage arrears resolution service, which is available free of charge to the borrower. The unique element of Abhaile is that it brings together the full range of supports and services required by borrowers in mortgage arrears. A dedicated adviser will work with the borrower and their lender to find the best solution for their particular situation. MABS acts as the gateway for the service and can be contacted by telephoning (076)1072000 or by accessing their website at: www.mabs.ie/abhaile

For those borrowers in danger of losing their home who are ineligible for the MTR scheme but qualify for social housing support, it is recommended that they engage as early as possible with their local authority regarding their long-term housing needs.