Rent-to-buy schemes hit by NAMA process, claims businessman

DESPITE the glut of empty houses around the country, there are virtually none available for sale to first-time buyers who want to rent to buy, it has been claimed.

Cork-based entrepreneur, Sean Power, who runs the website Rent2buy.ie, maintains that he has a national database of 7,500 people who are seeking to avail of the initiative.

Mr Power said, however, that NAMA had stopped everything in its tracks and there was no incentive for banks or developers to look at other options for off-loading property.