How does it work?
This is a great option if you are not looking to buy a home just yet, but want to start saving for a deposit to buy in the future.
The Housing Association typically will offer homes to rent 20% less than current market rent values.
An Assured Shorthold Tenancy with an initial commitment of 12 months is normally offered, giving you the opportunity to save money for a future deposit.
Intermediate Rent properties are currently not available to purchase, they are for rent only.
Am I eligible?
- Your annual household income should be between £20,000 and £80,000.
- You should be unable to purchase a home suitable for your needs without assistance.
- You cannot be a current home owner (or be named on the deeds of another property).
- You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgements).