This short or medium term housing option is offered below the local market rent, usually to key workers agreed with the local authority.
All new intermediate market rent applicants will need to register with their local Help to Buy agent and meet the below criteria in order to be eligible.
The total household income must be:
Less than £60,000 per year (outside London)
Less than £71,000 per year if applying for a one or two bedroom property
Less than £85,000 per year if applying for a property of three bedrooms or more (inside London)
Applicants must be unable to afford to buy a suitable property on the open market without assistance.
Applicants must be able to afford 80% of the local market rent without further assistance, please note that Housing Benefit* applicants do not qualify.
*If you are in receipt of Housing Benefit you do not qualify for intermediate market rent, this is to ensure that intermediate market rent gives households time to save for a deposit and move into home ownership. Households unable to sustain home ownership are therefore not suitable for this tenure.