Buying or renting a home below the market rate
Intermediate housing offers people who are unable to purchase a home or pay rent on the open market an opportunity to so at a cost that is below the market rate.
Applicants can buy or rent a brand new or existing home. There are several schemes available for eligible applicants. (This includes groups such as key workers.)
Help with buying a home
If you are interested in owning a home, you may be able to get help to purchase it or buy a share of a property (shared ownership).
Shared ownership enables people to purchase a new or existing home from a Registered Provider otherwise known as a Housing Association. You can buy up to a 75% share in the property starting with a minimum share purchase stated by the Association.
You then pay rent on the remaining share. There is the option to purchase additional shares in the property annually up to 100%. Properties are either brand new or being sold by existing shared owners. The rent on the outstanding share is usually set a maximum of 2.75% on the value of that share when the home is first sold.
For more information on purchasing a shared ownership property visit the government’s Help To Buy Shared Ownership pages
Affordable home ownership schemes and properties for Londoners
The London Mayor offers help with some affordable home ownership options.
To search for property details, check your eligibility, and register your interest, visit the Mayor of London’s affordable homes page
Help to Buy Equity Loan
The Equity Loans scheme is backed by the government. It lets people to buy a new property from a house builder with the help of an equity loan.
Find out how it works and how to apply.
This lets you rent a brand new or existing home with a view to buying the property at a later stage. The rent charged is up to 80% of the open market rent for the area. As well as being more affordable, you have the assurance that the home will be managed and let by a Registered Housing Provider.
To be allocated a property you will need to apply to be included on the Intermediate Housing Register.
Building new homes for residents
The council is committed to tackling the lack of affordable homes. We are working with our partners to provide new affordable homes for residents.
Find out about current schemes in development.