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Mortgage to Rent Scheme

The Mortgage to Rent scheme is a government initiative to help homeowners who are at risk of losing their home.

To qualify for the Mortgage to Rent scheme:

  • Borrower(s) must have completed the Mortgage Arrears Resolution Process (MARP) with the lender.
  • Must be eligible for Social Housing Support in the local authority in whose area the house is located.
  • Must not own any other property.
  • Must be living in a property that suits the borrower(s) needs.
  • The property must be of a value no more than €365,000 for a house and €310,000 for an apartment or townhouse in the areas of Dublin, Kildare, Meath, Wicklow, Louth, Cork and Galway. The maximum values for the remainder of the country are €280,000 for a house and €215,000 for an apartment or townhouse.
  • Income must not exceed €25,000*, €30,000* or €35,000* a year, depending on what part of the country borrower(s) live in (net household income is the household income after taxes and social insurance (PRSI) have been taken off). (*Additional allowances for children).
  • Cannot have cash assets worth in excess of €20,000.
  • Must have a long-term right to remain in Ireland.

How does it work?

  • You must be eligible for the Mortgage to Rent scheme.
  • You must be eligible for Social Housing Support with your local authority.
  • Your home must be accepted by a housing association.
  • You voluntarily surrender possession of your home to your mortgage lender who immediately sells it to a housing association who will then rent it to you.
  • You will no longer own your property but you can continue living in your home as a social housing tenant and have a tenancy agreement with the housing association.


Benefits of the scheme:

  • Peace of mind for you and your family to remain living in your home.
  • You pay an income based affordable rent.
  • The proceeds of the sale from your home to the housing association will go towards your mortgage debt and your lender will discuss any remaining debt with you.
  • Option to buy back your home after a period of 5 years if your situation improves.
  • The housing association will look after property maintenance issues as set out in your tenancy agreement.

How to apply?

  • Where appropriate, your lender will offer you the opportunity to apply for the scheme and give you an application form for Mortgage to Rent.
  • Complete your Mortgage to Rent application form and a Social Housing Support application form and give them both to your local authority along with the letter from your lender stating your mortgage is unsustainable.
  • You must get independent legal and debt advice about your situation. Your lender will pay approximately €500 for legal advice. The Money Advice and Budgeting Service (MABS) can provide independent debt advice or you can obtain the name of an approved financial advisor on Your lender will pay this advisor €250 directly on confirmation of receipt of the advice.


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