A new investment model has been launched to provide 1,000 'affordable' homes across Scotland.

The Scottish charity, Local Affordable Rented Housing Trust (LAR), has been set up to provide 'long term mid-market rented housing' across the country.

The LAR is funded by a £55m loan from the Scottish Government.

Overall, matching private investment is expected to lift the funding package to over £100m.

Tenants who meet the criteria are allocated homes based on affordability and income.

With funding in place, house builders and developer are being invited to get involved in delivering a pipeline of 'affordable' housing.

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Social Justice Secretary Alex Neil said: "LAR will deliver up to 1,000 homes for mid-market rent offering tenants high quality, affordable mid-rent homes across Scotland, supporting local communities to thrive, tackling inequality and addressing housing need.

"These homes will be in addition to the 30,000 affordable homes, of which at least two thirds will be for social rent, that will be delivered by the end of this Parliament. And there is potential for this model to be extended more widely to meet the significant demand for mid-rent housing."

Chairman of LAR, Raymond Williamson, said: "We are extremely grateful to the Scottish Government for providing initial funding to LAR.

"The LAR team is looking at a number of development sites across Scotland where we can buy homes, which have been or are in the process of being constructed and we would be pleased to hear from builders and developers across Scotland who believe they have something to offer."

(LM/MH)