Housing and homeless campaigner Fr Peter McVerry has called for the Government’s mortgage-to-rent scheme to be made mandatory for banks when dealing with families in unsustainable debt.
More than 600 family home loans are in arrears for two years or more in Co Mayo, while 26 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 also called on the incoming government to increase the scheme’s eligibility criteria so that a meaningful attempt can be made to solve many of the 27,000 cases where homeowners have been in arrears for at least two years.
At present, there are 1,200 active cases in the mortgage-to-rent process nationwide but Fr McVerry wants to see that number increased significantly this year.
He challenged politicians elected to the new Dail to do “something drastic” to end the spiral of misery for so many families.