Mortgage to rent

The Mortgage to Rent scheme is run by the Scottish Government as part of the Home Owner Support Fund.

The scheme aims to help people, whose homes are at risk of being repossessed, to stay in their homes by buying their home and renting it back to them.

If you apply successfully for the mortgage to rent scheme, your home will be bought by the council or a housing association, but you will continue to live there as a tenant with the house rented back to you.

Your new landlord will receive funding from the Scottish Government to carry out any necessary repairs so they can charge you a reasonable rent.

Eligibility

A money adviser can you tell whether you're able to apply for the Mortgage to Rent Scheme under the following criteria:

  • your bank or mortgage lender won't agree to lower mortgage payments
  • you've paid less than your agreed mortgage amount for at least three months
  • you're behind by at least the same amount as one monthly payment of your mortgage
  • you can't get help through UK Government support schemes, or you might still lose your home even if you do get support, all joint owners of the property agree to apply to the scheme and have signed the application form

How to Apply

To apply visit the Home Owners' Support Fund website.

Your application will be reviewed by the mortgage to rent team.

They will carry out an initial assessment of your application, to see if it meets the relevant criteria.

If your application is considered eligible for the scheme, a more detailed assessment will be carried out.

At this point, the mortgage to rent team will contact the social landlords in the area who are signed up to the scheme and request notes of interest for the purchase of the property.

Purchasing properties

The council will only consider purchasing properties which are considered eligible by the Home Owner’s Support Fund and meet the following criteria:

  • The property meets identified criteria: including the type, size, quality and location of the property
  • any repairs required to bring the property up to the Scottish Housing Quality Standard can be funded through the repairs subsidy or will be met by the home owner through the release of equity or separate contribution unless otherwise agreed
  • purchasing the property will deliver value for money in line with other available options

And

  • the property meets the household’s needs, including any identified medical or support needs. Properties are subject to a full repairs inspection and the reported findings and repairs costs will be considered alongside the circumstances of the household to inform recommendations made by council officers.

If you require further information or are struggling to meet your mortgage payments there are a number of agencies that provide free advice and assistance which you may find useful, including: