Clúid Housing completes first sale of mortgage back to tenants

Clúid Housing completes first sale of mortgage back to tenants

Clúid Housing, Ireland’s largest approved housing body (AHB), has completed the country’s first sale of a mortgage-to-rent property back to the owner.

The Dublin property, a family home, is the first home repurchased by its original owners under the government mortgage-to-rent scheme.

The scheme allows homeowners in mortgage arrears to sell their homes to AHBs and stay in the home while paying rent with secure tenancies. Within five years, the homeowner has the option to repurchase the home from the AHB.

“This is a very satisfying outcome for everyone involved,” said Clúid Housing’s New Business Director Fiona Cormican.

“Clúid’s stated vision is an Ireland where everyone has a great place to live. For some people, that means they home they are currently living in.

“For Clúid to be in a position to help this family not just stay in their home, but to regain ownership as well, is a huge success. It is a testament to the work of our staff who handled this case from start to finish.”

To date, Clúid has taken on 220 mortgage-to-rent cases across the country.

ENDS