Search our Archive

24/07/2021

Nearly 60 mortgage-to-rent cases progressed in Limerick

Nearly 60 mortgage-to-rent cases progressed in Limerick

Fr Peter McVerry, pictured with Paul Cunningham, CEO Homes For Life

ALMOST 60 mortgage-to-rent cases relating to mortgage arrears have been progressed or concluded in Limerick, new figures have revealed.

Housing and homeless campaigner Fr Peter McVerry has called for the Government-backed scheme to be made mandatory for banks when dealing with families in unsustainable debt.

Almost 1,000 family home loans are in arrears for two years or more across Limerick, while 57 mortgage to rent cases have either been completed or are being actively progressed, according to the latest figures.

The scheme allows mortgage holders at risk of losing their homes to switch to paying a fair income-based affordable rent to their local authority while remaining in their current dwellings.

Fr McVerry has challenged politicians seeking election to the next Dail to do “something drastic” to end the spiral of misery for so many families.

“What this housing crisis needs right now is radical thinking. Solutions won’t happen overnight but if the will is there, then it can happen pretty quickly,” said Fr McVerry, a member of the Advisory Board of mortgage to rent operator Home For Life.

“If the next government was serious about tackling this huge mortgage debt legacy from the past decade, it should make it illegal to evict people without an offer of mortgage to rent,” he added.

The campaigner is urging those who find themselves in difficulty not to bury their heads in the sand as the arrears won’t go away.

“It saddens me to think that every week there are thousands of home-dwellers living in needless fear of a knock on the door or a visit from the postman.”

More News

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.