Do I qualify for MTR?

To take part in the scheme you must be able to answer Yes to the following questions

Mortgage

  1. Are you unable to make the repayments on your Mortgage Loan and is this situation unlikely to change in the future? 
  2. Are you engaging with your lender to try to find a solution to the situation? 
  3. Have you completed the Mortgage Arrears Resolution Process (MARP) with your lender? MARP is a system that requires lenders to adhere to a process for borrowers who fall into arrears with their mortgage.

Property

  1. Is your property in negative equity or within the limits of positive equity allowed under the scheme? Your property can have marginal equity but must be within the limits for it’s location as outlined below:

     

    • Cork City, Dublin City, Dún Laoghaire Rathdown, Fingal, Galway City, Meath, South Dublin, Kildare, Wicklow – €35,000
    • Carlow, Clare, Cork County, Galway County, Kerry, Kilkenny, Laois, Limerick City and County, Louth, Westmeath, Wexford, Waterford City and County – €30,000
    • Cavan, Donegal, Leitrim, Longford, Mayo, Monaghan, Offaly, Roscommon, Sligo, Tipperary – €25,000
  1. Is your family home the only property you own?            
  2. Are you living in a property that suits your needs i.e. not over or under-accommodated, in line with local authority guidelines plus two bedrooms?

Note: Where your household is over accommodated (i.e. where you have more than 2 spare bedrooms above the current need of your household) and you are in one of the three categories below and qualify on all other grounds for MTR, consideration will be given to admitting you into the MTR Scheme:

  • The borrower or one of the joint borrowers is aged 65 and over
  • The borrower, one of the joint borrowers or one of the borrower(s) dependents has a disability and the property has been significantly and permanently adapted to their needs
  • The borrower, one of the joint borrowers or one of the borrower’s dependents has a disability and the property is specifically suitable to their needs without adaptations

In respect of the disability category outlined above, your household must also qualify for Social Housing Support on Disability, Medical or Compassionate grounds in line with the local authority’s allocation policy.

  1. Is the value of your property no more than €450,000 for a house and €335,000 for an apartment or townhouse in the areas of Dublin, Kildare, Meath, Wicklow, Louth, Cork and Galway and €345,000 for a house and €230,000 for an apartment or townhouse in the rest of the country?

 Household

  1. Are you eligible for Social Housing Support in the local authority in whose area the house is located? 
  2. Is your income below €25,000*, €30,000* or €35,000* a year, depending on what part of the country you live in? (net household income is the household income after taxes and social insurance (PRSI) have been taken off). (*Additional allowances for children, you can obtain more information from your local authority on this). 
  3. Do you have a long-term right to remain in the Republic of Ireland?