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Record deal to fund 1600 new homes in Northern Ireland – 19 March 2014

A record finance deal worth £180m will kick-start the construction of 1,600 new homes in Northern Ireland. Clanmil Housing Association has secured most of the money in loans from banks.

The homes will be built over four years and be available for low rent to those on the social housing waiting list.

Clanmil said the work would support an estimated 1,000 jobs in, or linked to, the construction sector.

Danske Bank has lent £75m and Barclays £45m with additional capital has come from the Department for Social Development (DSD).