Ryan 

Wednesday, 4th July 2012

Labour delivers another promise as mortgage to rent scheme rolled out nationwide - Ryan 

Waterford Labour Party Councillor Seamus Ryan has welcomed the announcement by the Minister for Housing and Planning, Jan O'Sullivan that the Mortgage to Rent Scheme is to be rolled out nationwide.

"The Mortgage to Rent Scheme is aimed at low income families who are struggling to pay their mortgage and where there is little prospect of their situation improving in the foreseeable future. By transferring the ownership of their home to an approved local housing body, they remain in their home while paying rent.

"Keeping families in their homes is a priority for Labour and while this scheme is not the only solution to the mortgage crisis, it is just one of the many steps as outlined in the Keane Report that will help resolve the issue.

"This scheme ensures that the strain on families that are currently under threat of losing their home will be eased, as they will be able to remain in their own home, surrounded by their own community and they avoid all the stresses that come with moving home and moving children from their schools.

"The scheme was initially piloted and there are currently 60 cases at various stages of the process. Minister O'Sullivan is monitoring these cases closely to ensure the nationwide rollout delivers and I commend the Minister on all her hard work to date.”