Qualification Criteria for Mortgage to Rent

To qualify for the Mortgage to Rent Scheme, your mortgage, property and household must meet the criteria below.

Mortgage

  • You have completed the Mortgage Arrears Resolution Process with your lender.
  • You are unable to make the full repayments on your Mortgage Loan.
  • Your lender has deemed your mortgage to be unsustainable.
  • Your lender is agreeable to your participation in the Mortgage to Rent scheme.

Property

  • Your property must be in negative equity; however, if your property is in positive equity, it may be considered on a case-by-case basis.
  • You do not own or have shared ownership of any other property.
  • Your property is eligible for participation in the Mortgage to Rent scheme.
  • Your property value is within the limits as per the table below, if you are above these limits we have agreements with some of the lenders for discounts which may still allow you to avail of MTR as an option.

 

Type of Property Location Maximum Value
House Dublin, Kildare, Meath, Wicklow, Louth, Cork & Galway €365,000
Apartment Dublin, Kildare, Meath, Wicklow, Louth, Cork & Galway €310,000
House Elsewhere in the State €280,000
Apartment Elsewhere in the State €215,000

Properties in excess of these values may be assessed on a case by case basis

 

Household

  • You must be eligible for Social Housing Support in the local authority in whose area the house is located.

 

City & County Councils Maximum Net Income Threshold
Bands Single Person Family
3 Adults & 4 Children
Band 1

Cork City, Dublin City, Dun Laoghaire Rathdown, Fingal,
Galway City, Meath, South Dublin, Kildare, Wicklow

€35,000 €42,000
Band 2

Cork County, Kerry, Kilkenny, Limerick City & County,

€30,000 €36,000
Band 3

Carlow, Cavan, Clare, Donegal, Gaway County, Laois,
Leitrim, Longford, Mayo, Monaghan, Offaly, Roscommon,
Sligo, Tipperary & Westmeath

€25,000 €30,000

 

These income bands are expressed in terms of a maximum net income threshold for a single-person household with an allowance of;

  • 5% for each additional adult household member, subject to a maximum allowance under this category of 10% and
  • 2.5% for each child, subject to a maximum allowance under this category of 10%.

Net income is defined Your net household income must not exceed certain thresholds. Please contact us to discuss in more detail.

  • You cannot have capital assets worth in excess of €20,000.
  • You have a long-term right to remain in the Republic of Ireland.