[GSEF2016]: Mortgage Arrears and how to avoid loss of housing whilst Improving its energy efficiency

SSE Organisation
Urban & Rural Regeneration / Community
Social Service / Employment

Presented at: GSEF2016 Montreal

Organisation: Carbery Housing Association Ltd. (SSE organization)

Date: September 8, 2016

Presenter: Mr.Jose Ospina (Secretary)



The CHA Mortgage to Rent project aims to allow CHA to purchase homes where residents are in long-term mortgage arrears and have no possibility of restructuring loans, or of entering into bankruptcy, due to low incomes or welfare dependency. CHA will purchase the homes in order to avoid repossession and loss of housing of residents. After the purchase, CHA will issue secure tenancies at Council-equivalent rents to residents, carry out any required repairs and fully retrofit the homes for greater energy efficiency. Residents will preserve the option to buy the properties back within a 5-year period. CHA will take long-term responsibility for management and maintenance of the properties, encouraging tenants to become members of the Association and participate fully in the management of the Association, and the development of community initiatives to improve homes and extend the work of CHA.