The supply of affordable housing is set to be increased across Northern Ireland with thanks to a new Intermediate Rent policy.

Following a consultation on the policy, Communities Minister Deirdre Hargey has approved the creation of an additional supply of 'Intermediate Rent' homes.

Intermediate Rent seeks to offer a more secure, affordable and supportive rental option for low to moderate income people and families who are struggling with the costs of market rentals.

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Publishing the Consultation Outcome Report, Communities Minister Deirdre Hargey said: "A new supply of Intermediate Rent homes can provide an affordable option to people and families. Feedback from across the housing sector, and from prospective tenants, supports the delivery of more affordable, secure and good quality homes through an Intermediate Rent programme.

"The ability to fund the development of a new supply of Intermediate Rent homes through Financial Transactions Capital loan will allow us to provide a new supply of much needed affordable homes."

The Department will now, subject to final approvals, procure an Intermediate Rent Operator later this year.