Mortgage-to-rent scheme has ‘completely failed’ says SF’s Mairead Farrell

Only one property has been purchased through the National mortgage-to-rent in Galway city and county since it was launched in 2012, indicating the scheme “has failed those in mortgage distress”.

This is the view of Sinn Féin city councillor Máiréad Farrell. She was commenting after the figures came to light following a parliamentary question submitted by Sinn Féin finance spokesperson Pearse Doherty to Environment Minister Alan Kelly.

Cllr Farrell said the figures are “an indictment of how the scheme was designed and operated”. She accused the Fine Gael-Labour coalition of being “unable to grasp the seriousness” of the mortgage crisis and “the wider crisis in housing we face in this State”.

She has now called on Minister Kelly to “completely reform the national mortgage-to-rent scheme” so it “actually results in a benefit for distressed families


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