For those currently renting and aiming to buy a home, the Intermediate Market Rent (IMR) scheme offers a great opportunity. With lower-than-market rents, you can save more each month, helping you build up a deposit and take the first step towards homeownership.
What is Intermediate Market Rent?
Intermediate Market Rent is a government- backed scheme designated to help you save money by offering rental properties at a lower rate than the average market price. With reduced monthly payments, you’ll have more room to build up your savings towards a deposit for your first home.
One of the key benefits to renting a home through Intermediate Market Rent is the ability to save at your own pace while living in a high-quality home. All properties under the scheme come with the security of an assured shorthold tenancy, giving you peace of mind for your rental term.