iCare Housing is a not for profit, regulated approved housing body.
We were established to help homeowners who qualify for Mortgage to Rent to remain in their family homes, we look to buy suitable homes from lenders where the mortgage holder can’t pay the mortgage and is eligible for social housing.
Currently we have an agreement in place with AIB, EBS & Haven Mortgages to streamline the process and agree purchase prices in advance. The aim of this arrangement is to make sure that if you are eligible and come forward there is a clear and pre-agreed path for you to stay in your home and have your mortgage debt written off.
iCare Housing, aim to buy your home from your lender and give you a long term tenancy agreement to remain in your home.
It is our aim to put as many eligible participants through the Mortgage to Rent process as possible, however it is important to note that while iCare may express an interest in purchasing your home, it is not always possible to purchase all homes entered into the scheme. Properties where we are unable to continue the Mortgage to Rent process include but are not limited to issues such as inability of iCare to insure the property (flood, thatch roof, sink hole), properties where structural works are required, properties where high repair costs are identified (we are restricted by our lenders as to the amount and type of acceptable repairs allowed, iCare have to borrow up to 70% of the monies required to carry out repairs to our properties), properties where fire safety issues are identified and properties that have been deemed unsafe.
The price we buy your home for will be listed in the tenancy agreement and a legally binding option will be given for you to buy back the house at any time over the life of the tenancy agreement.
We believe it is important that your entire debt be reviewed while you are progressing through the mortgage to rent process in order to ensure the best outcome on your behalf. To avail of a full free debt review we recommend that you contact the Irish Mortgage Holders Organisation (IMHO) on 01 8747662. More details about the IMHO can be found on www.mortgageholders.ie.
The IMHO is a not for profit organisation which aims to facilitate independent mortgage/debt resolution between lenders/creditors and mortgage holders. The IMHO’s aim is to help you deal with indebtedness and allow you to move forward, it is a registered charity regulated by the Charities Regulatory Authority.
We would encourage anyone interested in Mortgage to Rent to engage with their lender, for many who don’t want to deal directly with their lender then independent third parties such as IMHO (www.mortgageholders.ie) and MABs (www.mabs.ie) have financial advisors available for free to assist.