Intermediate rent
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 do 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.
Eligibility criteria
If you are invited to view an intermediate housing property, you will need to meet the eligibility criteria:
For rent
- Have a total annual household income of less than £67,000.
- Provide a minimum of two references, one of which must be from your current employer.
- Have enough savings to pay one month's rent in advance.
- Have enough savings to cover a one-month deposit.
- Demonstrate a satisfactory credit history
- Successfully pass a referencing and credit check
For sale
- Have a total annual household income of less than £90,000.
- Not own any other residential property
- Be unable to afford a home that meets your housing needs on the open market.
- Be able to secure a mortgage.
- Have access to enough money to cover the mortgage deposit and associated purchasing costs.
Shared ownership
Shared ownership allows 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 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
Intermediate Rent
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
We are 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.