Clúid launches Mortgage to rent scheme

Clúid, the voluntary housing agency that has delivered 129 homes in Donegal, has launched a new scheme to help those whose homes are under threat of repossession.

Clúid, the voluntary housing agency that has delivered 129 homes in Donegal, has launched a new scheme to help those whose homes are under threat of repossession.

The new scheme was announced at the launch of the organisation’s 2011 Annual Report.

Clúid’s Regional Director in Donegal, Mick Concannon said: “Clúid has delivered 129 homes to individuals and families in Donegal but there is a lot more work to do. Despite a challenging environment and a dramatic cutback in public funding, Clúid has found that the key to delivering these homes is through innovative schemes and this is a theme we are eager to continue.”

The Mortgage to Rent scheme will help people who are facing repossession to stay in their home. Under the scheme, the home is bought by a housing association such as Clúid and the family stays in their home as a tenant, paying an affordable rent to the housing association. Clúid was involved in the design and piloting of Mortgage to Rent and believes that the scheme could rescue up to 3,500 households on the brink of losing their home.

“It is pioneering schemes like this that will meet housing need in Ireland. With 1134 households on social housing waiting lists in Donegal and a further 671 in Letterkenny, many of us know of a family member or a friend in dire need of a home. Despite all the challenges, our staff have never been more determined to deliver good-quality, affordable housing to those who need it.”

Clúids Annual Report 2011 can be viewed and downloaded now at www.cluid.ie.