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Funding opportunity to help deliver more affordable homes for lower-income tenants.

The Intermediate Rent funding competition will help to create a supply of homes offering another housing option for those who find themselves priced out of the mainstream rental market.

What is Intermediate Rent?

Intermediate Rent is a new form of affordable rented housing, sitting between social housing and the private rented sector in terms of cost.

Once the properties are developed, the Intermediate Rent scheme will offer high-quality homes with longer-term tenancies. Homes will be available at a discounted rent to those on lower incomes and can offer another housing option to those struggling with affordability while either saving towards home ownership or while awaiting a social home.

Funding

The funding will see the delivery of 300 new affordable Intermediate Rent homes in Northern Ireland in the first phase. Once they are delivered, these homes will be available to eligible lower-income households, with discounted rents set at least 20% below market rent levels for a similar property type and size within the same locality. Tenancies will be advertised and applications will be open to eligible households in line with the .

If your business area works with people or organisations who may have an interest in submitting an application, please feel free to share details about the competition.

How to apply

See further information on the .

First published 16 May 2024