David Hall’s ICare housing company will have secured all its necessary funding “within days” as it prepares to launch in the coming weeks, the mortgage advocate has said.

The newly established non-profit housing company run by Mr Hall, the director of the Irish Mortgage Holders Organisation, is to take advantage of the government’s revamped mortgage-to-rent scheme.

It is believed that Eoghan Murphy, the housing minister, will outline details of the scheme after cabinet meets on Wednesday. The overhaul will be the scheme’s second this year after Simon Coveney, then housing minister, introduced changes in February.