Intermediate Rent Scheme - Loss of Job

[Donel261]

Hi,

 

Hi,

 

Currently rent a two-bedroom flat for £612 per month. The property is with a registered social landlord under their intermediate rent scheme/homebuy. 20% cheaper market rents to help people who want to save for a mortgage in the future. The property I occupy is not for sale so I have made no committment to buy it nor did they do any checks to actually ensure I am saving for a mortgage. However, my worry is I am probably going to loose my job in the New Year, well its highly likely. I'm worried that I am going to be homeless as the RSL will serve notice on me. I'm on an AST, does anyone know if the rules are different because its an intermediate rent property - could they say I no longer meet the criteria? which hardly seems, fair, you would think it makes more sense to keep a good tenant, let him claim housing benefit for a couple of months whilst he tries and get himself back on his feet. Then saying that as I an under occupying they probably wouldnt pay full HB anyway so I would probably have a shortfall.

 

Any advice on this type of thing is greatly appreciated.

[Tawnyowl]

Hi Donel216,Lets hope you keep your job.I do not know much about these schemes but hope someone may advise you soon Having looked round a few areas i could not find much info for you,most seem to say you will be reviewed regularly.Anyone who does not know much about these schemes bit of info here. http://england.shelter.org.uk/get_advice/finding_a_place_to_live/intermediate_renting Intermediate Rent is a discounted rented scheme, Intermediate rent is set at 80% of market rent. Applicants must be looking to purchase a home in the short to medium term (5 years). Applicants will need to have a savings plan in place to save towards the required deposit.

What are my options after renting through Intermediate Market Rent?

 

Many housing associations that let properties through this scheme also offer an option to buy a share in the property on a New Build HomeBuy basis at a later date. Some housing associations may ask you to agree to purchase the property after a pre-defined rental period. This is called Rent to HomeBuy. Please see your local HomeBuy Agent's website for more information.

 

Most of them seem to say no housing benefit towards the rent and every 6 months they check that a savings scheme is in place.Have they not checked with you yet .How long have you been there.

I can see where you are coming from.If you lose your job,will they let you have housing benefit,seems doubtful.But how else will you pay.Even if they let you stay there how else can you pay your rent. I have not been able to find a answer to your questions.But sure have tried.I am sure some wise one will answer your questions at this difficult time for you.Best wishes Tawnyowl.