Intermediate Market Rent (IMR) is designed for households who may not yet be able to afford to purchase their own home, on the open market or through shared ownership. IMR allows you to rent at a 20% reduction on the market rate, giving you more opportunity to save towards purchasing in the future – provided you are able to meet the minimum eligibility criteria set out below.
You can view our Intermediate Market Rent homes on our IMR Rightmove page.
In order to rent an IMR home from L&Q, potential tenants must:
- Have the right to rent – this is proven through possession of British/ EU/EEA Citizenship or a valid UK residency visa.
- Have no history of bankruptcy, county court judgements (CCJs) or Individual Voluntary Agreements (IVAs)
- Have no adverse rental history such as previous rent arrears or damage to property.
- Be able to meet the minimum income and affordability standards - this differs depending price of the home you are interested in.
- Be able to provide one month’s rent in advance and five weeks rent as a tenancy deposit.
- Your overall household income must not exceed £90,000 for homes in London, or £80,000 for homes outside of London.
- You can't own a property or be in the process of buying.
- You must not be able to afford to purchase a similar home in the local area on the open market or through shared ownership.
- You may be required to live or work in the area to which you are applying.