Applicants will need to register with us and submit to a full financial assessment.
Intermediate rent is a product aimed at first time buyers who cannot afford to purchase a property at the current time, possibly because they do not have enough deposit for example, but who aim to get onto the property ladder in the short to medium term - i.e. within about 5 years.
The rent charged will be a maximum of 80% of 'local' market rents i.e. the market rent charged for a similar property in the same area. Service charges are included in the 80% rent.
The tenancy is an Assured Shorthold tenancy and is not a social housing tenancy: you will have no automatic Right to Buy or Right to Acquire the property, mutually exchange or transfer to another property.
Minimum household income: £42874 per year.