DSA
Tailored Debt Settlement Arrangements (DSAs) that enable you to make affordable repayments, with remaining debt written off upon completion.
A lifeline for homeowners in need
If you're at risk of losing your home due to mortgage arrears, Mortgage to Rent (MTR) offers a government-backed solution that allows you to stay in your property as a social housing tenant. Under the scheme, an Approved Housing Body or private investor purchases your home, and you continue living there, paying an affordable rent based on your income.
At Grant Thornton Debt Solutions, we provide expert advice and end-to-end support to guide you through the process and help you achieve long-term housing stability.
How the mortgage to rent scheme works
Our experienced Personal Insolvency Practitioners (PIPs) will meet with you to assess your financial situation and determine if MTR is the best solution for your needs. We’ll clearly explain all your options, from MTR to other debt relief solutions, ensuring you have a full understanding of each.
Once MTR is confirmed as a viable option, we’ll assist you in applying for social housing support, a key step that ensures your future rent under the scheme is affordable and manageable.
We will work directly with your lender, facilitating the process by obtaining a letter of support that confirms your mortgage is unsustainable. Our strong relationships with lenders and other key stakeholders ensure the process runs smoothly. We also ensure the property valuation is accurate and reflects its true market value, safeguarding your interests.
Once the sale is completed, you will sign a tenancy agreement with an Approved Housing Body or private investor, allowing you to remain in your home at an affordable rent. Throughout the process, we maintain constant communication with all parties to ensure your transition is smooth. You can rely on our continued support as you move forward with peace of mind.
Get in touch
Ken Gannon
Personal Insolvency Practitioner (PIP)
Why Grant Thornton
With Grant Thornton, you receive:
- Expert guidance: Our team of Personal Insolvency Practitioners (PIPs) offer clear, practical advice, guiding you through every step of the MTR process.
- Strong relationships with key stakeholders: We have built trusted relationships with lenders, approved housing bodies, local authorities, and private investors, ensuring that the process is as smooth and efficient as possible. These relationships help us negotiate on your behalf and ensure timely progress.
- Experience you can trust: With years of experience in personal insolvency and MTR, we have successfully helped numerous homeowners navigate the scheme and achieve long-term housing stability.
- Tailored, client-centered services: Every client’s situation is unique, and we provide solutions tailored to your needs, helping you achieve the best possible outcome for your future.
FAQs about Mortgage to Rent (MTR)
The Mortgage to Rent (MTR) scheme is a government-backed initiative designed to help homeowners in mortgage arrears avoid losing their homes. The scheme allows homeowners to switch from owning their home to renting their home as social housing tenants while resolving their mortgage debt.
Eligibility depends on several factors, including your financial situation and the sustainability of your mortgage. You must also apply for social housing support before your MTR application can be submitted. We’ll assess your eligibility during your initial consultation and help guide you through the entire process.
The process begins with a meeting with a Personal Insolvency Practitioner (PIP) to assess your financial situation. If Mortgage to Rent is deemed appropriate, we will help you apply for social housing support, engage with your lender to confirm your mortgage is unsustainable, facilitate a property valuation, and negotiate a tenancy agreement. Throughout this, we ensure clear communication and support.
The process timeline can vary depending on your specific circumstances. Typically, it may take a few months to complete the MTR process, from the initial assessment to the final tenancy agreement. We’ll keep you updated at each stage, ensuring transparency and clarity.
Yes. One of the key benefits of the MTR scheme is that you can remain in your home as a tenant once the property is purchased by an approved housing body or private investor. You will pay affordable rent based on your income, ensuring that you can stay in the property without the burden of mortgage debt.
Success Story
Helping a homeowner stay in their property
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