Over 11 hundred Galway households in mortgage arrears for over two years

Galway Bay fm newsroom - 1,124 households in Galway are in mortgage arrears for over two years.

Central Bank data also reveals over 860 are in arrears for at least five years.

According to a new State-backed finance scheme, only nine of these cases have found a solution through mortgage to rent.

Under the mortgage-to-rent scheme model, a property is sold and leased back to the State through the local authority, which in turn sublets the house.

Home For Life argues that under the older model of mortgage to rent schemes, many experienced delays in completing their cases.

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