State cost rental scheme could 'deprive' first-time buyers of homes 

Under the Cost Rental Equity Loan scheme,  approved housing bodies will rent properties to tenants for a minimum of 25% below open market value. Stock picture.

A senior Government official raised concerns the State's cost rental scheme could possibly result in "depriving" first-time buyers of opportunities to purchase homes.

Under the Cost Rental Equity Loan (CREL) scheme, for which €35m was set aside in Budget 2021, approved housing bodies (AHBs) will rent properties to tenants for a minimum of 25% below open market value.