What is intermediate market rent?
This scheme is for people who cannot afford to buy a property, who aren’t ready to commit to a mortgage or can't get a mortgage due to the economic climate.
Intermediate market rent gives you the opportunity to rent a property on an assured shorthold tenancy, usually for a period of six months, at 80% (or less) of typical local market rent. We review the local rents each year to ensure that they remain affordable and up to date.
Am I eligible?
- Your total income must be less than £60,000 and you must be unable to afford to buy a suitable property on the open market without assistance
- You must be able to afford 80% of the local market rent without further assistance
- You must be able to raise the first month's rent (before the tenancy starts) as a deposit. We will make sure that the deposit will be held in the government accredited scheme.
How do I apply for a property in this scheme?
Properties are advertised through the Kent Homechoice website (see link in related websites) as ‘discounted market rent’. If you register interest in this scheme, you may be contacted directly through the Homebuy agent's waiting list.