Dwellr is seeking to offer a lease-to-own product to help people secure homeownership
. It has tested demand in the market via a survey on, a property website owned by The Irish Times, with a sample audience. “It has validated what we thought would be a product in demand,” founder Mark Duffy told The Irish Times. “We’ve got enough interested customers to meet our first year projections.”
Dwellr is aimed at borrowers who might not yet have a deposit saved but who have the financial means to fund a home loan and are currently renting, the-self employed, or people coming to Ireland without a credit history here. It expects to fund apartments and houses in the €350,000 to €400,000 range, with many borrowers expected to buy the apartment they are living in.
Dwellr earns its margin on the difference in the two prices. A borrower can decide to walk away from the purchase within the three years, minus certain costs. Mr Duffy said he hopes the launch the venture next year. “We want to put about 2,000 people on the property ladder in the first three years,” he said, adding that its plan is to fund 300 to 400 properties in its first year of operation.ESRI sharply cuts growth forecast in pre-budget warning
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