Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage to rent scheme

Options
  • 15-12-2012 9:29pm
    #1
    mickm86
    Closed Accounts Posts: 30 ✭


    hi i was wondering if anyone tried to avail of this scheme and what was the end result? thanks


Comments

  • Options
    #2
    Fuh Q
    Registered Users Posts: 414 ✭✭Fuh Q


    Its not available until about next August and from what Im hearing and a lot of the banks are not very interested, I asked about it in PTSB and they are very dismissive of it and as good as told me they have no interest in it.
    My friend asked in two other banks and was told its not an option by one and the other said that there are very strict guidelines and most people wont qualify.

    Hold on for as long as you can, the banks are selling of the bad debt loan books and this is leading to some debt forgiveness and restructuring of loans. Ive heard that this is already happening.


  • Options
    #3
    mickm86
    Closed Accounts Posts: 30 ✭mickm86


    thank you


  • Options
    #4
    Snowball2013
    Registered Users Posts: 2 ✭Snowball2013


    It is available and all banks and finance companies should know about it. To qualify, you need your mortgage provider to approve you and you have to meet criteria as set out by the Housing Authority. http://keepingyourhome.ie/mortgage_to_rent_scheme.html.en
    From start to finish it should take 6-8months.


  • Options
    #5
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    Fuh Q wrote: »
    Its not available until about next August and from what Im hearing and a lot of the banks are not very interested, I asked about it in PTSB and they are very dismissive of it and as good as told me they have no interest in it.
    My friend asked in two other banks and was told its not an option by one and the other said that there are very strict guidelines and most people wont qualify.

    Hold on for as long as you can, the banks are selling of the bad debt loan books and this is leading to some debt forgiveness and restructuring of loans. Ive heard that this is already happening.

    How about you pay your dues fully as per your obligation


  • Options
    #6
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    lima wrote: »
    How about you pay your dues fully as per your obligation

    Like the banks did?


  • Advertisement
  • Options
    #7
    Snowball2013
    Registered Users Posts: 2 ✭Snowball2013


    lima wrote: »
    How about you pay your dues fully as per your obligation
    This scheme is for people who have absolutely no chance of being able to service the agreement and the mortgage needs to be deemed unsustainable. Sometimes, people through no fault of there own fall into this category. Surely it is better to leave a family in their home and sell the property to a Housing Association, than the alternative which would be to force the family out so they become a burden on the County Councils when they need to be re homed. The end result is the same, they are no longer home owners but tenants.


  • Options
    #8
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    Snowball2013 wrote: »
    This scheme is for people who have absolutely no chance of being able to service the agreement and the mortgage needs to be deemed unsustainable. Sometimes, people through no fault of there own fall into this category. Surely it is better to leave a family in their home and sell the property to a Housing Association, than the alternative which would be to force the family out so they become a burden on the County Councils when they need to be re homed. The end result is the same, they are no longer home owners but tenants.

    As long as they pay rent and eventually pay their obligations


Advertisement