A Sligo Councillor says the latest changes to the Mortgage-to-Rent scheme announced yesterday by the Department of Housing should ensure more people in mortgage arrears have the opportunity to remain in their homes.
The scheme allows people in unsustainable mortgage arrears to sell their home to an approved housing body, and continue to pay rent to live there.
The measures also include an increase in the maximum purchase price threshold, from 395 thousand euro to 450 thousand euro.
Sligo Drumcliff Councillor Donal Gilroy says every opportunity should be made available to distressed borrowers to remain in their homes regardless of much the property is worth.
