London Living Rent (LLR) is designed for households who are currently renting and want to get onto the property ladder but cannot yet afford to do so, 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 can expect to pay for a similar property to rent on the open market, making saving towards purchasing a home more achievable. The key benefit to renting an LLR home is that you can go on to purchase the property that you have already made a home as a renter with L&Q through our shared ownership scheme, meaning there is no need to move elsewhere in order to purchase. See the video below for further information on the LLR Scheme.
Our LLR Homes are listed on the Homes for Londoners portal.
In order to rent an LLR 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.
- Be currently renting in London.
- Your overall household income must not exceed £60,000.
- 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.