Updated October 2026
In short: London Living Rent is a Mayor of London affordable housing tenure for middle-income Londoners who rent and want to save to buy. Rents are set at around a third of average local household incomes, below market rent, and homes are usually offered by housing associations with the aim that tenants move into shared ownership, often within ten years.
| Feature | How it works |
|---|---|
| Who it's for | Households renting in London who don't own a home and can't currently afford to buy |
| Income limit | A maximum household income set by the Mayor (check the current limit with the provider) |
| Rent level | Based on a third of average local household income, ward by ward |
| Tenancy | Usually a fixed-term or periodic tenancy with a housing association |
| Path to ownership | Tenants are expected to save and move into shared ownership, often of the same home |
How to apply
- Check eligibility with the Mayor's affordable home ownership and intermediate rent listings
- Look for London Living Rent homes from housing associations in boroughs you like
- Prepare proof of income, savings and current rental history
- Apply early: popular developments are oversubscribed
Weighing it up
Lower rent lets you save faster, but you're usually expected to move towards shared ownership, and supply is limited. If you don't qualify or can't find a home, a well-chosen private rental in a lower-cost area may still let you save towards a deposit.
How Fraser Bond helps
- Private rentals that balance commute, space and cost
- Advice on affordable areas across London
- Support when you're ready to buy, including new-build and shared ownership
Planning to save for your first home?
Talk to us about affordable rentals and your route to buying.
Speak to our teamRelated guides
- Rent to Buy in Manchester – Affordable Homeownership Opportunities
- Student Flats to Rent in London
- Affordable Living: Find a 3 Bedroom Flat to Rent in London Today
Fraser Bond services: Rental · Search listings · Contact us
