- “Affordable” housing scheme backed by Mayor charges more than £1,000 a month in average rent and charges
- Scheme lists studio flats costing £12,500 a year
- Some properties require a minimum income of £40,000 a year just to qualify
- Only 70 properties currently available across a 40 mile radius around London
By Chaminda Jayanetti
An affordable housing scheme backed by Boris Johnson is offering small studio flats in London for more than £12,500 a year in rent and service charges.
The “intermediate rent” scheme is part of First Steps, an affordable housing programme backed by the Mayor of London to help lower and middle income earners get on the housing ladder.
Intermediate rents are subsidised to around a fifth below market rents – but with market rents in London already out of control, the supposedly affordable intermediate rents are also beyond many people’s reach.
Studio flats are self-contained apartments, often combining…
View original post 398 more words