The mortgage to rent scheme

A

Alwyn

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Can a single person avail of this scheme? I live in a 2 bed, my partner walked out some time ago and left me to pick up the pieces. Is it possible I could rent the property back from the bank?
 
You wouldnt be renting your property back from the bank. The bank sells it to the housing authority and you rent it back from them. You would then be a local housing authority tenant. Your bank also needs to be signed up to the MTR scheme and not all of them are - have you asked them?
 
It's unlikely as you would have to be at the top of the waiting list for social housing.

If you are a single person without kids, then you will be way down the list.
 
My understanding was that the mortgage to rent scheme was specifically to allow troubled mortgage holders to stay in their existing homes as tenants. I didn't get the impression that one's place on a social housing list mattered. I think that is an entirely separate thing. A two bed doesn't seem like a huge extravagance for a single person. It might be a problem if it was a 3 or 4 bed.
 
Hi Cadillac

Why would the state just buy people's houses from them if they can't afford to meet their repayments without any qualifying criteria? The state has limited resources and targets families with children.

Cluid has a good guide to the Mortgage to Rent Scheme

• The family must be eligible for social housing in the area where they live.
• The family must not be under-occupying their house or apartment. This means that the size of the house is appropriate for the number of people living there.
• The house or apartment must be considered suitable for purchase by a housing association.
Click to expand...

If a single person with no children applies for social housing, they won't be allocated a two bedroom house of their choosing in an area of their choosing.
 
I take the point that having no children is a disadvantage.

I imagine people without children are entitled to apply for social housing and that by virtue of being unable to pay their mortgage, they probably need to. I recognise that under a general scheme they would not be high priority but I got the impression this 'mortgage to rent' scheme was taking account of the fact that the property market was overvalued in the boom.
 
I think that you are looking at it wrong.

The state prioritises housing families with children and always has done. A singe person can accommodate themselves much more easily - they can share a house, get a bed sit or whatever.

The "Mortgage to Rent" scheme is designed for people who have an unsustainable mortgage whose housing needs would be met by the Local Authority if they were homeless. The Housing Group/Local Authority looks at their current home. If it's what they would be getting anyway, it makes sense to leave them there and have the state pay for it.
 
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