Intermediate Market Rent (IMR) offers the benefit of a 20% discount on the full market rate for new build and existing homes.
Previously only available to Key Workers but now available to applicants who are not eligible for Social Housing or who cannot afford to buy.
If you wish to apply for IMR you will be required to register and have an assessment with the local Help to Buy Agent for applicants in Kent and the South East or with Hyde for applicants in London.
What is Intermediate Market Rent (IMR)?
Hyde New Homes' Intermediate Market rent is designed to help potential first time buyers who cannot yet afford to buy a home, but want the chance to save for a deposit to purchase a home within the next 5 years.
Intermediate rent offers you the opportunity to rent a brand new or refurbished home, or a home that is being re-let at less than the market rate. The rent charged is approximately 20% lower than what you would expect to pay for a similar home in a similar area if you were renting from a private landlord.
As well as being more affordable, you have the assurance that your home is built, managed and let by a registered housing provider.
Homes are available to rent on an assured short hold tenancy, initially for six months then subject to satisfactory occupancy. This is reviewed regularly.
Who is eligible?
Households with a total income of less than:
To find out more about Intermediate Market Rent, call the Empty Homes and Lettings team on 0800 3 282 282 or email firstname.lastname@example.org