The Mortgage to Rent (MTR) scheme is a government scheme to help homeowners who are at risk of losing their homes due to mortgage arrears. It lets homeowners in mortgage difficulty switch from owning their home to renting their home as social housing tenants. The scheme is overseen by the Department of Housing, Local Government and Heritage and is administered by the Housing Agency.
The MTR scheme is a social housing option only available if you are eligible for social housing support and your mortgage is unsustainable.
Under the scheme, you voluntarily surrender ownership of your home to your mortgage lender. This means that you give up ownership of the property. Under the MTR scheme an Approved Housing Body or private company can buy your home after you voluntarily surrender it to your lender.
Approved Housing Bodies (AHBs) are independent, not-for-profit organisations, also known as housing associations or voluntary housing associations. They provide affordable rented housing for people who cannot afford to pay private sector rents or buy their own homes. They are approved by the Department of Housing Local Government and Heritage for the delivery of the MTR scheme. They are regulated by the AHB Regulatory Authority, the Charitie Regulator and registered with the Companies Registration Office.
There are three vulture funds, who are only interested in making money, approved by the Department of Housing, Local Government and Heritage for the delivery of the MTR scheme. This is despite home for life a previous company failing to abide by the terms of the scheme. In 2025 media reports show that Broadstone one of the three vulture funds approved more recently has also failed.
You no longer own your home or have any financial interest in it, but you can continue to live there as a tenant of the local authority or approved housing body. You pay an affordable rent, which is based on your income. So, if your income increases the rent increases, but if your income falls the rent decreases. This means that your rent is always affordable.
Under the scheme, you become a social housing tenant and sign a tenancy agreement with the AHB which is registered with the RTB. If your home is bought by another vulture company, then they will take back the property from the council after 25 years and the council will have to find you alternative accommodation.
If your financial situation improves, you have an option to buy your home back. iCare Housing has done 9 buy backs to date more than any other entity since the scheme was launched.
You can approach your lender and ask to be considered for MTR. The Abhaile service can assist you with this. If your lender does not consider you suitable for MTR, they must inform you of the reason(s) in writing.
Who will own my home?
An Approved Housing Body is a registered charity, not for profit and regulated by the Charity Regulatory Authority and the AHB Regulatory Authority. It is also registered with the CRO.
A private company registered with the Companies Registration Office (CRO)
Who will be my landlord?
An Approved Housing Body
Your local authority will lease the property from the private company for 25 years and therefore act as your landlord for that period.
What rent will I pay?
You will pay an income based rent calculated under your local authority’s Differential Rent Scheme
Who will I pay my rent to?
An Approved Housing Body or your local authority.
Who will be responsible for the maintenance of the property?
An Approved Housing Body which specialises in social housing delivery and property management
The vulture company who has limited expertise and experience in this space.
How long can I stay in the property?
Your tenancy agreement is a week-to-week tenancy but if you abide by the terms of that tenancy agreement you will remain in the property as tenant of the AHB indefinitely. While the current arrangement on the property can be for up to 30 years you will continue to have your housing needs met by the AHB beyond this term.
If your are sold to a vulture company the agreement is a week-to-week tenancy but if you abide by the terms of that tenancy agreement you will remain the tenant in the property for 25 years. After that you will continue to have your housing or accommodation needs met by the local authority beyond this term in a different property or emergency accommodation.
Will I have to move out of my current home?
You are a social housing tenant with a right to have your housing needs met by the AHB and/or local authority indefinitely. If your needs change, the AHB or local authority will provide alternative accommodation that meets these needs.
You are a social housing tenant with a right to have your accommodation needs met by the local authority indefinitely. If your needs change, the local authority will provide alternative accommodation that meets these needs this may include emergency homeless accommodation.
Can I apply for a transfer out of my current property?
Once you have been a tenant in the property for a minimum of 2 years you can apply to the AHB and/or local authority for a transfer.
Can I choose who takes on my MTR case?
Yes, under the Mortgage to Rent Scheme you can choose which option suits you best. iCare Housing strongly recommends that you choose an Approved Housing Body that is set up specifically to help people in need and not to allow your case be passed to a for profit, vulture company that only exists to profit off your home.
iCare Housing is regulated by the Housing Regulator (AHBRA) and the Charities Regulator. It is registered company and has been delivering Mortgage to Rent solutions since 2016.
In our latest tenant survey carried out in early 2025 we had a tenant satisfaction rating of 95%.
If you have a question about Mortgage to Rent, you can email us at info@icarehousing.ie or call us on 1800 233 244.