New mortgage-to-rent scheme means private company profits while state picks up the tab
The state’s latest mortgage-to-rent initiative, under which private company ‘Homes for Life’ would buy up distressed mortgages, and lease the relevant properties back to the council, has come in for attack. Cllr. Éilis Ryan said of the scheme: “This is a ludicrous financing arrangement under which the state will effectively pay the full outstanding mortgage [...]