Investors move to back mortgage-to-rent scheme

New Beginning looks set to be the first private fund-backed operator to avail of the state’s revamped distressed mortgage solution. Its German high net worth family investor, Brant Estrada, has provided an initial cash bond of €50 million.

“We’re unlike everyone else in that we have our money and we’re transacting with homeowners,” said founder Ross Maguire last Friday.

He said New Beginning had already begun engaging with distressed home loan families with ...