Almost 40 families in the north west using Mortgage-to-Rent Scheme

There are thirty-nine cases in the north west in which people or families in mortgage difficulties are using the mortgage-to-rent scheme.

More than 2,600 family homes in the region are in arrears for two years or more.

The government’s Mortgage-to-Rent Scheme aims to keep mortgage holders with unsustainable debt in their homes as long-term tenants of their local authority.

Central Bank figures show in Donegal, there are more than 1,100 family home loans in arrears for two yeas or more, while 13 mortgage-to-rent cases are being progressed.

In Sligo, there are almost 300 family home loans in arrears for two years or more, with 16 mortgage-to-rent cases going ahead.

The figures for Leitrim, show more than 270 family home loans were in arrears for more than two years, with 10 mortgage-to-rent cases having been either completed or progressing.

Stephen Curtis, is operations director of Home for Life, the only government-approved private mortgage-to-rent operator.

He says lenders are now showing a greater willingness to use the scheme as an alternative to repossession.

He has been telling Ocean FM’s Harry Keaney how it works.