Big banks agree just 13 Irish mortgage-to-rent cases

A significant disparity between larger banks and smaller competitors has emerged in terms of their success in finding solutions for lower-income families to remain in their homes as part of a government scheme.

So far, just 88 mortgage-to-rent cases have been completed since the scheme was introduced by Social Protection Minister Joan Burton in 2012, despite her projections that it would benefit 100 families in its first year alone.

Under the initiative, a property is bought at a market price by an approved voluntary housing agency, with the family giving up ownership but continuing to live in their home on a rental basis.