The scheme is intended to help finance the building of more than £5billion worth of private rented homes by providing a Government guarantee to underwrite loans and bring down the cost of debt. It is part of a planned £10bn package aimed at boosting the delivery of large private rented housing projects.
According to the report, the Housing Finance Corporation has been selected to run a social housing guarantee scheme comprised in the same package. However, there has been no interest in the private rented sector element from financial groups, it said.
The report said that industry representatives had indicated there was no group with sufficient experience to run the scheme and that the scheme may not be seen to generate enough profit.
