Intermediate rent is first choice for Lorna
“I was tired of being at the whim of my landlord” explains Lorna, a community outreach Project Manager for a branch of the University of London. “It was difficult to deal with landlords who didn’t think fixing my fridge was a priority. I was also sharing a home with other friends, which was fine but I wanted my own space. But when I looked at other properties in the area, I realised I couldn’t afford anything better on the private market.”
Lorna had been saving up to buy a place of her own, and was registered on Housing Options, London’s free one-stop service to help people find government funded affordable homes to rent or buy. Anyone living or working in London, and earning between £15,000 and £60,000 is eligible for help. However, when mortgage lenders tightened their criteria and demanded bigger deposits, Lorna realised her savings would no longer be enough. “I was really disappointed,” she explained, “but I explored the different options on the Housing Options website and decided to look into Intermediate Rent instead.”
Through the Intermediate Rent product, you can rent a brand new or refurbished home at less than the market rate. The rent charged is normally 20% to 30% lower than what you would expect to pay for a similar home in a similar area if you were renting from a private landlord. You have the added assurance that your home is built, managed and let by a Registered Social Landlord.
“Paying 20% less than I would to rent privately means I have a chance to save up more for my deposit,” says Lorna. Lorna has moved into an Intermediate Rent apartment just two streets away from her previous flat in London Fields. “I couldn’t afford somewhere in this location, with this amount of space, without Intermediate Rent. I love this part of Hackney, and I was thrilled to find affordable apartments available here.”
“MHO were a joy to deal with – they are a breath of fresh air after years of dealing with private landlords” says Lorna. “They were efficient, helpful, and all my questions were answered quickly.”
Lorna has now settled into her new home and is enjoying everything it has to offer. “It’s great to have my own things in my own space. Even though I’m only renting, the flat is brand new and it feels like mine. Everyone in the building is friendly and it feels safe and secure.”