Fianna Fail spokesperson Deputy Michael McGrath is calling for a complete review of how the scheme is operating.
He said: "We know there are over 35,000 households who are more than two years in arrears on their mortgage. The reality is that they face a very high risk of seeing their home repossessed. While there is no 'one size fits all' solution, Mortgage to Rent should be a viable option for some families in these circumstances.
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"As it stands at the moment, the scheme is having no discernible impact on the mortgage arrears crisis. Less than 2% of cases put forward by private lending institutions for consideration under the scheme have been brought to conclusion. This is due to a combination of bureaucracy between the parties involved and unnecessarily restrictive rules which apply to its operation."
(CD/JP)
