€9k average lease under Mortgage to Rent scheme

Home For Life purchases the home and enters a long-term social housing type lease with a local authority

Published:

The average annual leasing cost for new dwellings delivered by Home for Life Ltd under the Mortgage to Rent scheme in Cavan is €9,120.

As a government approved operator in the mortgage-to-rent scheme,. Bray-based Home For Life buys social housing stock from banks and funds as part of its plan to deal with a large percentage of homeowners in long-term mortgage arrears.

Under the deals, Home For Life purchases the home and enters a long-term social housing type lease with a local authority.

By comparison, the average MTR lease in Monaghan is €9,548.

Elsewhere in the region, the average lease is €5,890 in Leitrim, the lowest in the country; €8,645 in Longford; and €15,390.

The average Annual Leasing Cost across all Local Authorities is €12,828, according to new figures released by the Department for Housing.

Published: