86 households in Tipp avail of Mortgage to Rent Scheme

Stock image. Photo: Pixabay

A government initiative has enabled almost 90 people in Tipp to remain in their home.

The Mortgage to Rent scheme allows homeowners who are in significant arrears on their mortgage to surrender ownership of their property to a lender, but to remain in the house as a tenant.

86 households in Tipperary have availed of this scheme, with 23 applications currently ongoing.

Nationally, almost 6,000 people have benefitted from the Mortgage to Rent scheme, and since the beginning of this year, the government have made access to the scheme easier so more people in mortgage arrears can avail of it.