Home Solutions Initiative enables you to rid yourself of all mortgage debt & secure the option to stay in your home. It gives you security, flexibility & freedom. What’s more, we guarantee complete confidentiality every step of the way.
Founded in Galway in 1976 and acquired by Link Financial Group in 2016, Everyday Finance DAC are an Irish Retail Credit Firm regulated by the Central Bank of Ireland.
Licensed as a Retail Credit and Credit Servicing Firm by the CBI, Everyday is subject to the provisions of the Consumer Protection (Regulation of Credit Servicing Firms) Act 2018 and ensures that effective internal controls are in place to ensure compliance with all aspects of applicable legislation and other regulatory requirements.
Everyday is an expert and ethical servicer fully compliant with the CBI’s Codes of Conduct, including the Code of Conduct for Mortgage Arrears and the Consumer Protection Code 2012, is registered with the Data Protection Commissioner and is aligned to the Central Credit Register.
Everyday has a long track record of purchasing and servicing both secured and unsecured consumer and commercial loan portfolios and has built up a strong reputation within the Irish marketplace for credit expertise and loan servicing. Everyday has deep expertise across the credit spectrum and the capability to acquire and manage consumer loans and mortgages. Everyday’s highly skilled and experienced staff members have a proven track record in reaching solutions on a consensual basis.
Home for Life are an Irish owned, managed and registered company authorised by the Minister of Housing, Local Government and Heritage to operate the Mortgage to Rent (MTR) scheme. Home for Life aims to keep distressed mortgage holders in their current homes free of mortgage debt. Home For Life supports homeowners who are unable and are unlikely to be able to make their mortgage payments in availing of the Mortgage to Rent scheme, supporting them throughout the MTR process, including engagement with the Local Authority. On completion of the process the customer will retain the right to remain in their home mortgage debt free and Home For Life take responsibility for the routine maintenance and upgrading of the property.
The Mortgage to Rent (MTR) scheme is a government scheme to help homeowners who are unable to meet their mortgage repayments and as a result are at risk of losing their homes due to mortgage arrears. It allows homeowners in mortgage difficulty to switch from owning their home to renting their home as social housing tenants. You will no longer own your home, but you will continue to live there as a tenant of your Local Authority paying an affordable income-related rent set by the local authority. Your lease with the local authority is a long term secure lease so you can have peace of mind that you can remain in your home, long term and mortgage debt free. The scheme is overseen by the Department of Housing, Local Government and Heritage and is administered by the Housing Agency.
Everyday as Your Lender
It’s your lender’s job to explain the Mortgage to Rent Scheme to you. Everyday has decided to work with Home for Life to deliver Mortgage to Rent to its eligible customers and will assist you in your application for inclusion in the scheme.
Your Local Authority
It’s their job to assess your household to see if you qualify for social housing support. You will become a tenant of the local authority and you will pay them an income related affordable rent.
The Buyers of the Property
Home for life will buy your home from your lender. They will maintain the property as set out in the lease/tenancy agreement.
The Housing Agency
The Housing Agency oversees the Mortgage to Rent Scheme to help it run efficiently. All stakeholders (i.e., Everyday, local authority, Home for Life and the Housing Agency) have agreed to a Protocol, in which they agree to work together to help bring applications to a successful conclusion.
Reaching the decision to give up ownership of your home is not an easy decision and care must be taken to ensure that it is the right decision for you and your family. You must take independent legal and financial advice in order to make an informed decision. The Money Advice and Budgeting Service (MABS) will assist you in obtaining relevant independent advice through the Abhaile service. MABS may be contacted by telephoning 0761 07 2000 from 9am to 8pm Monday-Friday.It is strongly encouraged that anybody considering the Mortgage to Rent Scheme finds out the full details of the scheme which is available from a Government hosted website (www.mortgagetorent.ie) and ensures that they understand the scheme fully. Home for Life are also available to answer any questions or queries.
For more information please refer to our FAQ’s.
If you think these solutions may help you or if you wish to contact us please fill out this form with your query and we will respond back to you as soon as possible.