If you can’t afford to buy your first dream home at the moment then London Living Rent might be the answer to help you eventually get on the property ladder.
What is London Living Rent?
London Living Rent is funded by the Mayor. The idea behind London Living Rent is that it is designed to help people to switch from renting to Shared Ownership.
London Living Rent homes are for middle-income households who want to build up savings to buy a home through Shared Ownership. Landlords are expected to actively support their tenants into homeownership so that homes are sold within 10 years.
London Living Rent homes will be offered on tenancies of a minimum of three years. By offering a below-market rent, tenants are supported to save and given the option to buy their home on a Shared Ownership basis during their tenancy.
How much rent will I pay for a London Living Rent home?
The amount of rent you pay will vary according to where you live in London.
Across London, the average monthly rent for a two bedroom London Living Rent home in 2025-26 is around £1,350 a month, equivalent to about two thirds of the average market rent in December 2024 (£2,118) as reported by the Office for National Statistics.
The Mayor publishes benchmark London Living Rent levels for every neighbourhood in the capital, which are updated annually. These are based on a third of average local household incomes and adjusted for the number of bedrooms in each home.
In most boroughs this will be a significant discount to the market level rent. So, to ensure family-sized London Living Rent homes are affordable, the rent for a three bedroom home will be set at no more than 10% above the two bedroom rent.
Am I eligible for a London Living Rent home?
To be eligible for a London Living Rent home, you must:
- Live or work in London
- Either 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
- Have a maximum household income of £67,000
- Not own any other residential home
- Be unable to currently buy a home (including through Shared Ownership) in your local area.
London Living Rent homes are advertised on the Mayor’s Homes for Londoners property search tool.
Rent to Buy
Outside of London the scheme is known as Rent to Buy. It gives tenants in England the chance to rent a home at Intermediate Rent, providing them with the opportunity to save for a deposit over time to purchase the home.
AM I ELIGIBLE FOR A RENT TO BUY HOME?
To be eligible for Rent to Buy, you must be:
- In full or part time employment
- A first time buyer or someone returning to homeownership following a relationship breakdown
- Able to pay your rent and save for a deposit at the same time
- Have a maximum household income of £60,000
- Have a good credit history.
HOW THE SCHEME WORKS
Your initial tenancy agreement will be for up to five years. After that, if you need more time to save for a deposit, your landlord may agree to extend your tenancy.
However, if you do not pay your rent on time and follow the terms of your tenancy agreement, you may not be allowed to stay in the scheme.
At the end of the rental period you have the option to buy the property. By then you should have saved enough for a deposit, making it easier to secure a mortgage. You are free to make an outright offer or look at the Shared Ownership scheme.
SOUTHALL
SO Flexi Southall
From £956 per month
SO Flexi Southall is a collection of one and two bedroom apartments nestled in the established residential area of Beaconsfield Road and within a five-minute walk of Southall railway station. All brand new apartments will be available through the London Living Rent scheme for those who live and work in the London Borough of Ealing. Residents will have access to landscaped communal outdoor space, their own private balconies or terraces and a car club membership for three years.
SO Flexi Southall offers rents at a discount of approximately one third of the local median household income on a three-year contract. Tenants will be encouraged to use the savings from the discounted rent to save up for a deposit and purchase the property using Shared Ownership at the end of the rental term, with the view that all homes at the development will be sold in 10 years.
To qualify for SO Flexi Southall and London Living Rent, residents must live and work in the London Borough of Ealing, have a formal rental tenancy in place or live in an informal arrangement with family or friends as a result of struggling with housing costs, not own a home or be able to buy a home on the open market. Household income caps are in place.
soresi.co.uk/so-flexi-southall
PECKHAM
SO Flexi Peckham
Coming Soon
SO Flexi Peckham is a collection of London Living Rent one and two bedroom apartments, set to launch soon.
Located on Old Kent Road, SO Resi Peckham borders Brimmington Park, offering a selection of amenities for those with an outdoor lifestyle, including an outdoor gym, trails and a playpark. The development offers a real sense of community, with a coffee shop, grocery and outdoor space right on the doorstep.
SO Flexi Peckham is a car-free development, however there is Queens Road Peckham station just a short walk away offering train links via Southern Rail and the Windrush Line taking you into central London.
soresi.co.uk/soflexi/so-flexi-peckham
BARKING
Barking Riverside
From £1,204 a month
L&Q is offering a collection of one and two bedroom London Living Rent apartments at Barking Riverside, east London. Being delivered by master developer Barking Riverside Limited, a joint venture between L&Q and the Mayor of London, Barking Riverside is supported by transport infrastructure, green space, on-site amenities and much more.
All LLR homes at Barking Riverside are finished to a contemporary specification with a typical apartment benefiting from a modern open-plan living space and spacious bedrooms. Each contemporary kitchen is complete with integrated appliances, which makes for a stylish and practical entertaining zone. Bedrooms feature large windows, while bathrooms are fitted with modern white sanitaryware and chrome fixtures. Each home has a private balcony or terrace.
Initial priority will be given to households living in the Barking & Dagenham borough.
lqhomes.com/barkingriverside/london-living-rent/
KIDBROOKE
L&Q at Kidbrooke Village
From £1,525 a month
L&Q is offering a collection of two and three bedroom LLR apartments at L&Q at Kidbrooke Village, Greenwich. Finished to a modern specification, these new homes feature spacious main bedrooms, bright kitchens with a selection of integrated appliances and even their own private balconies.
Set in an established neighbourhood, new residents will find a thriving, close-knit community immersed in the perfect blend of city buzz and relaxing suburban life.
Venturing away from the vast array of on-site amenities, the wider local area has plenty on offer. Residents benefit from the nearby eclectic Greenwich market and acres of green space at Blackheath Common as well as a buzzing nightlife scene featuring the historic Cutty Sark pub.
From the on-site Kidbrooke station, you can reach London Bridge in 16 minutes and Waterloo East in 19 minutes. There are also safe pedestrian and cycle routes across the development.
lqhomes.com/kidbrookevillage/london-living-rent-lq-at-kidbrooke-village/
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
