London Living Rent
Available on participating London homesA reduced-rent home can give eligible Londoners room to save for Shared Ownership. Start with the tenancy, your savings capacity and the route to buying.
London only · Guidance checked 30 October 2026
- Who it supports
Eligible Londoners who cannot currently buy a suitable home locally.
- Rent setting
Local income-based benchmarks, adjusted for the home's size.
- Ownership aim
Save towards a Shared Ownership purchase during the tenancy.
Rent, save and plan the next step
London Living Rent is part of the Mayor's Homes for Londoners programme. It provides intermediate affordable rented homes for eligible middle-income Londoners who want to build savings towards Shared Ownership.
Rents use benchmarks based on a third of average local household incomes, adjusted for property size. This is a local benchmark, not a promise that your own rent will equal a third of your personal income. Confirm the actual advertised rent for the home you are considering.
The Greater London Authority says homes are offered on tenancies of at least three years, with tenants supported to save and given the option to buy through Shared Ownership during their tenancy. Read the current GLA scheme guidance.
Check the current London criteria
The current GLA page sets a maximum household income of £75,000. You must live or work in London, not own another residential home and be unable to buy a home locally, including through Shared Ownership.
You must also have a formal tenancy, or be living informally with family or friends because housing costs are difficult. The provider assesses the application and any allocation priorities for the particular home.
These criteria are specific to London Living Rent. They should not be confused with the £90,000 London income ceiling for Shared Ownership purchases. A later purchase has its own scheme and mortgage checks, even if you have already qualified for the rental home.
Give the lower rent a clear purpose
A reduced rent helps only if the full household budget leaves room to save. List rent, any separate charges, regular bills and existing commitments, then set an amount you can put aside consistently.
Ask the provider about the tenancy length, rent-review terms, savings expectations and the support available as you move towards ownership. Keep enough flexibility for changes in work, family needs or your preferred area.
Do not assume that paying rent buys equity in the property. Your deposit is built separately. The future purchase will need a suitable share price, enough deposit and a mortgage you can afford, as well as the provider's approval under the relevant scheme.
- Check the actual rent and charges for the specific home, rather than a London-wide average.
- Save towards both the purchase deposit and transaction costs.
- Review your savings progress and likely buying budget before making a purchase commitment.
Understand the route into Shared Ownership
The scheme is designed to support a move towards home ownership. Ask the housing provider when a purchase can be considered, how the share would be valued and what happens if your circumstances or plans change.
When assessing a Shared Ownership purchase, the mortgage is only part of the monthly cost. Rent on the unowned share, service charges and maintenance also matter. Have the key information document and lease reviewed before committing.
Homes are advertised through the Mayor's Homes for Londoners property search. Availability and allocation are handled by the relevant provider; a mortgage discussion with Jack does not allocate a rental home or reserve a place in the scheme.
The next steps
Explore participating homes
Use the official Homes for Londoners search and contact the provider.
Check the tenancy and budget
Confirm eligibility, rent, charges and a practical deposit-saving plan.
Prepare for a purchase review
When ready, compare the proposed share, total monthly cost and mortgage options.
What to prepare
Tick the points you have covered before a conversation. These are preparation notes; ticking them does not confirm eligibility.
Your questions, answered
Is this the same as Rent to Buy outside London?
No. London Living Rent is the separate London programme, with its own income, rent-setting and tenancy arrangements.
Is the income limit still £60,000?
The GLA page checked on 30 October 2026 states a maximum household income of £75,000. Confirm the current provider criteria for the home you want.
Will my rent be a third of my income?
Not necessarily. The published benchmark is based on average local household incomes and adjusted for the home's size.
Does acceptance guarantee I can buy later?
No. A purchase will depend on the applicable scheme terms, deposit, property and mortgage assessment at that time.
Official guidance
Checked 30 October 2026. Availability, rules and lender criteria can change. Follow the official guidance and confirm the position before committing.
Other routes to consider
Rent to Buy
Rent at a discount while saving towards buying. Understand what the tenancy does and does not offer.
Explore the guide
Shared Ownership mortgages
Buy a share and pay rent on the rest. See how the full housing budget fits together.
Explore the guide
First Homes scheme
A discounted home for eligible first-time buyers, with conditions on who can buy and sell.
Explore the guideLet’s put your plans in context.
Tell me where you would like to buy, how far you have got and which route interests you. We can work through the questions and the next useful step.