The loan deal will help provide 7,600 homes at Wembley Park in north London.

Housing Minister Alok Sharma said planning rules will also be relaxed to encourage more Build to Rent schemes.

Wembley developer Quintain is matching the £65m government cash to invest in improved infrastructure across the site.

Quintain Chief Executive, Angus Dodd said: “This £65 million government loan will be match funded by Quintain to provide a £130 million infrastructure investment into Wembley Park to deliver new car and coach parking, an energy centre and the first phase of the new 7 acre public park.

“Not only will this funding allow these critical elements to be brought forward, it will also support the more rapid delivery of new homes.”

Across England 80,855 Build to Rent homes are either completed or planned.

The industry estimates investment in the private rented sector could grow to £70 billion by 2022.