Department seeks views on new affordable housing fund

Growing the supply of more affordable, better quality homes for rent with longer-term tenancies is a key commitment for the Department for Communities. The recent publication of its Intermediate Rent policy aims to set the foundations to introduce a new supply of Intermediate Rent homes, which is a new form of affordable housing for rent.

The Department is seeking to engage specifically with the housing sector on the funding package associated with the delivery of new affordable (Intermediate) homes for rent. 

The Department will work with the Strategic Investment Board (SIB) to take forward market sounding over Summer 2023, seeking the views of the housing market, to refine the final funding package. The market sounding will help establish the level of market interest to deliver Intermediate Rent homes and the contribution the sector can make to practical delivery. 

A spokesperson for the Department for Communities said: “Taking another step towards creating a new supply of more affordable homes for rent, the Department is now engaging further with stakeholders who may have the experience, skills and access to the requisite match-funding to act as the Intermediate Rent Operator for the delivery and operation of Intermediate Rent homes. We encourage feedback on the Intermediate Rent delivery arrangements and the proposed financial support package.

“Responses will help to shape the funding package and steer the development of Intermediate Rent as it moves forward.”

The market sounding will take the form of a written questionnaire and potential follow up discussion with SIB.

Anyone interested in participating in the Market Sounding Exercise can request the questionnaire and supporting information by contacting the Intermediate Rent Project team on affordablerentbranch@communitities-ni.gov.uk and submit their response not later than 3pm on 6th September 2023.

Notes to editors: 

1. Intermediate Rent is one of a range of measures aimed at increasing the supply of, and access to, affordable housing. The delivery of more affordable housing is a central tenet of the draft Housing Supply Strategy, forms part of a strategic objective within the Department’s 2023/24 Business Plan and was a priority for the former Minister. This new type of affordable housing can also contribute to supporting the delivery of affordable housing through Local Development Plans, which are being taken forward by councils.

2. The Intermediate Rent policy and ‘Homes for Intermediate Rent: Design Standards’ documents can be viewed at communities-ni

3. To support implementation of the policy, the Department anticipates securing funding to help support the development of Intermediate Rent homes in Northern Ireland. The funding will be a low interest loan in the form of Financial Transaction Capital.

4. Media enquiries to the DfC Press Office 

5. Follow us on twitter @CommunitiesNI

6. The Executive Information Service operates an out of hours service for media enquiries only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.

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