London Living Rent: What is it?

How can London Living Rent help me buy a home?

What is London Living Rent?

A government-backed scheme offered by the Mayor of London, London Living Rent is a type of intermediate affordable housing in the capital.

Available to eligible renters within the capital, London Living Rent is an alternative housing scheme for middle-income households who currently work or rent in London and want to build up savings to eventually buy a home through Shared Ownership.

Available only to those who live in London, do not already own another home, and have a maximum household income of £67,000, London Living Rent provides high-quality properties with rents based on a third of local household incomes. You can find out more about London Living Rent eligibility here.

How does London Living Rent work?

London Living Rent houses and apartments are offered on stable tenancies of a minimum of three years with below-market value rent, however, this can be extended to a maximum of 10 years.

Landlords are expected to encourage their tenants into homeownership within a decade by supporting them to save a deposit while paying subsidised rent and providing them with the option to buy their home on a Shared Ownership basis during their tenancy. London Living Rent tenants are also given extra priority for other Shared Ownership homes in London.

How can I find a London Living Rent home?

Interested in starting your London Living Rent property search? Head to our property portal to look for available homes in your local area. You can also find more information about the scheme, including eligibility and affordability, on Share to Buy.