Herbert Road, London, N15

INTERMEDIATE PROPERTY: 1 Bedroom Flat

The Intermediate Rent Scheme is a great opportunity for people who are not ready to commit to buying a home, who are having difficulty getting a mortgage or who cannot save up a deposit to buy through the affordable home-ownership schemes. The rent is 20% cheaper than renting privately and is aimed at helping you to save for a deposit, which will then allow you to enter into affordable home ownership in the short to medium term.

Eligibility:
1. Minimum income criteria are that the annual rent does not exceed 30% of household gross annual income. (Minimum Household income of £44,400.00). Gross household income of no more than £90,000 per annum to be eligible to purchase or rent a one bedroom home.
2. Unable to purchase a suitable home to meet customer's housing needs on the open market within a reasonable travelling distance of their work place without assistance.
3. Does not already own a home or has sold current home before purchase or rent.
4. Must be a British or EU/EEA citizen or have indefinite leave to remain in the UK. Customers without indefinite leave to remain who are interested in buying a home, must be able to demonstrate that they are able to raise a mortgage with an acceptable lender and that they can afford to sustain home ownership in the longer term. This will normally require a detailed individual assessment.
5. Employed on a permanent contract of employment or able to demonstrate that customer can afford the costs of intermediate renting.
6. Customer must have a good credit history.

7. Deposit of £1707.69 is required plus 1 months rent of £1480.60

Generally priority will go to the following groups, set in priority order:

1. Residents of Haringey.

2. Employee within the borough of Haringey.

3. Local priorities, people with a demonstrated housing need (overcrowding, poor housing conditions, split families, medical reasons, harassment etc).

4. Housing association and council tenants who would vacate a rented home.

5. Serving military personnel.

6. Applicants registered on a local authority or registered provider waiting list.


Successful applicants will pass a full credit check
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 judgments).