Rentplus has secured £20m in funding from Crestline, with the option of an additional £20m after two years.
The provider of rent-to-buy homes is aiming to raise £1bn to enable it to meet a target of providing 8,500 affordable homes by 2020.
The company lets the homes at 80% of market rent, increasing the rent annually by 1% above inflation. Tenants can buy the homes after a minimum five-year period.
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