London Living Rent

What is London Living Rent?

London Living Rent (LLR) is designed for people who are currently renting and want to get onto the property ladder but can’t afford to do so yet – either through shared ownership or on the open market.

LLR allows you to rent a home at a discounted rate, often up to 50% less than you would expect to pay for a similar property on the open market. LLR helps making saving towards purchasing a home more achievable.

The main benefit to renting an LLR home is that you can go on to purchase the property that you already call home. As a renter with us through our shared ownership scheme, there is no need to move elsewhere in order to purchase.

See the videos below for further information on the LLR Scheme.

Eligibility Criteria

If you would like to rent a London Living Rent home from us, you must:

  • Live or currently work in London
  • Be able to provide one month’s rent in advance and five weeks rent as a tenancy deposit
  • Be able to afford a similar home in the local area through shared ownership or on the open market
  • Have the right to rent – proven by possession of British/EU/EEA Citizenship or a valid UK residency visa
  • Meet the minimum income and affordability standards - this will depend on the price of the home you are interested in
  • Have a formal tenancy (for example, in the private rented sector) or live in an informal arrangement with family or friends as a result of struggling with housing costs

You must not:

  • Already own a property or be in the process of buying
  • Have a household income that exceeds £60,000
  • Have an adverse rental history, for example, rent arrears or damage to a property
  • Have a history of bankruptcy, county court judgements (CCJs) or Individual Voluntary Agreements (IVAs)