The cost of renting in London has reached a record high, as new data reveals that monthly rents are 5.7% higher compared to August 2024.1 Kevin Sims, Director at SO Resi, explains how London Living Rent could help solve this problem
The rising cost of renting is one of the biggest challenges that first time buyers face and can sometimes leave people feeling like they are out of options, especially when it comes to thinking about stepping on to the property ladder later down the line. However, schemes like London Living Rent are helping bring
the hopes of homeownership back
within reach.
How does the scheme work?
London Living Rent (LLR) is a save-to-buy scheme, offering below-market monthly rents on eligible new build homes, allowing tenants to save each month towards a deposit. They can buy the home through Shared Ownership, making the jump from renting to owning much more achievable. Across Southall, the average monthly rent for a two bedroom home in 2025 is around £1,933 per month2, which is significantly higher than a two bedroom apartment at our SO Flexi Southall development, where rents begin from £956 per month.
Who is eligible?
In order to be identified as eligible for a London Living Rent home, you must live or work in the area where the property is located, either have a formal tenancy or live with family or friends and be unable to buy a home including through other schemes like Shared Ownership.
To ensure these homes are made available and accessible to the families that need them most, household income caps are in place.
Where are London Living Rent homes available?
SO Resi is delivering a selection of London Living Rent homes through our dedicated SO Flexi brand across key locations in London, including Southall and Peckham.
If you are looking to find out more information about the homes available through London Living Rent, visit soresi.co.uk/soflexi
1bigissue.com/news/housing/rents-in-the-uk-are-rising-at-the-highest-rate-for-14-years-will-they-keep-going-up/
2home.co.uk/for_rent/southall/current_rents?location=southall
SO Flexi Southall
SO Flexi Southall is a collection of London Living Rent studio and one, and two bedroom apartments in Southall.
Southall is known best for its rich cultural heritage and strong sense of community. Close by is a great selection of schools and transport links via the Elizabeth Line offering convenient travel into the centre of the city.
The development is situated conveniently close to the maintained gardens, paths and play areas of Southall Park, with sports amenities for those fitness enthusiasts. The properties at SO Flexi Southall have been designed with open-plan living, private outdoor spaces and shared rooftop decks, ideal for the summer months.
Prices start from £956 pcm for a one bedroom apartment.
soresi.co.uk/so-flexi-southall
SO Flexi Peckham
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 Flexi 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 residents’ doorsteps.
SO Flexi Peckham is a car-free development, however Queens Road Peckham station is just a short walk away offering train links via Southern Rail and the Windrush Line taking you into central London. Prices for this development will be coming soon. There is also a selection of Shared Ownership homes available at SO Resi Peckham with prices starting from £111,250 for a 25% of a one bedroom apartment (FMV: £445,000).
soresi.co.uk/soflexi/so-flexi-peckham
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.
