What is London Living Rent?
London Living Rent (LLR) is designed for people who are currently renting and want to get onto the property ladder but can’t afford to do so yet – either through Shared Ownership or on the open market. LLR allows you to rent a home at a discounted rate, compared to a similar property on the open market. LLR helps making saving towards purchasing a home more achievable.

London Living Rent eligibility criteria applies. If you would like to rent a London Living Rent home from us, you must:

· Live or currently work in London

· Be able to provide one month's rent in advance and five weeks rent as a tenancy deposit

· Have the right to rent - proven by possession of British/EU/EEA Citizenship or a valid UK residency visa

· Meet the minimum income and affordability standards - the minimum income for this home is £55,000 (Minimum income requirements should be used as a guide and can vary depending on a household's circumstances and financial commitments)

· 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

You must not:

· Be able to afford a similar home in the local area through Shared Ownership or on the open market

· Already own a property or be in the process of buying

· Have a household income that exceeds £60,000

· Have an adverse rental history, for example, rent arrears or damage to a property

· Have a history of bankruptcy, county court judgements (CCJs) or Individual Voluntary Agreements (IVAs)

All pricing seen is indicative of the "starting from" price at the development and is correct at the time of publishing. Please contact the team for up to date pricing.

1. Gross household income of no more than £71,000 per annum when eligible to purchase or rent a one or two bedroom home or no more than £85,000 per annum when eligible to purchase or rent a family sized home (three or more bedrooms).

2. Minimum income criteria are that the annual rent does not exceed 30% of household gross annual income. (Minimum Household income of £44,400.00). Gross household income of no more than £90,000 per annum to be eligible to purchase or rent a one bedroom home.

3. Unable to purchase a suitable home to meet customer’s housing needs on the open market within a reasonable travelling distance of their work place without assistance.

4. Does not already own a home or has sold current home before purchase or rent.

5. Must be a British or EU/EEA citizen or have indefinite leave to remain in the UK. Customers without indefinite leave to remain who are interested in buying a home, must be able to demonstrate that they are able to raise a mortgage with an acceptable lender and that they can afford to sustain home ownership in the longer term. This will normally require a detailed individual assessment.

6. Employed on a permanent contract of employment or able to demonstrate that customer can afford the costs of intermediate renting.

7. Customer must have a good credit history.

8.Deposit of £1707.69 is required

Generally priority will go to the following groups, set in priority order:

1. Residents of the borough of which the development is being built.

2. Employee within the borough of which the development is being built.

3. Local priorities, people with a demonstrated housing need (overcrowding, poor housing conditions, split families, medical reasons, harassment etc).

4. Housing association and council tenants who would vacate a rented home.

5. Serving military personnel.

6. Applicants registered on a local authority or registered provider waiting list.

Minimum Household Income £68,400 Per Annum

Maximum Household Income £80,000 Per Annum

Suitable for one single family household

WE KINDLY REQUEST YOU DO NOT CONTACT US ABOUT THESE PROPERTIES IF YOU DO NOT MEET THE CRITERIA BELOW.

*** Check to see if you meet the requirements to rent this unit ***

To qualify for any of these DMR units, you must be able to check off at least one of the criteria's set out by the council's priorities below (in order of priority) to make sure guidelines are met.

1.    Public sector tenants (being those tenants living in accommodation in Newham owned by the Council or a Registered Provider as registered pursuant to chapter 3 of part 2 of the Housing and Regeneration Act 2008) and wholly releasing accommodation to which the Council has nomination rights

2.    People with experience of Care (Care Leavers)

3.    Households currently living in Temporary Accommodation

4.    Leaseholders in blocks being decanted in anticipation of demolition who have a right to be re-housed by the Council;

5.    People registered on the Council's Housing Register or waiting list

6.    Other Council residents who may not release Council accommodation when they move

7.    Others living in Newham in rented accommodation or living with family or friends who do not appear on the Council's Housing Register

8.    People with strong connections by family ties within the Borough

9.    People who have permanent employment in the Borough 

ALL PROSPECTIVE RESIDENTS MUST COMPLETE A DECLARATION TO CONFIRM THEY QUALIFY UNDER THE CRITERIA SET OUT BY NEWHAM COUNCIL BELOW. ALL DECLARATIONS ARE SENT TO AND AUDITED BY NEWHAM COUNCIL.

Intermediate Rent: Eligibility

To be eligible for Intermediate Rent, you must meet certain criteria:

• Your total household income must be less than £90,000 if in London, or less than £80,000 outside of London.
• You must be unable to afford to buy a suitable property on the open market.
• You must not already own another home.
• You must be able to afford 80% of the local market rent without assistance.
• For some developments, there may be additional criteria such as priority given to those who currently live or work in the local area

• Your annual household income can be no more than £90,000.
• You should be unable to purchase a home suitable for your needs without assistance.
• You cannot be a current home owner (or be named on the deeds of another property).
• You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgments).
• You have an income greater than £ 48960
• 5 weeks deposit of £1883.08

• Your annual household income can be no more than £90,000.
• You should be unable to purchase a home suitable for your needs without assistance.
• You cannot be a current home owner (or be named on the deeds of another property).
• You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgments).

You may be eligible for this property if:

We will prioritise those who live and/or work in the London Borough of Barking and Dagenham
You have a gross household income of no more than £90,000 per annum.
You are unable to purchase a suitable home to meet your housing needs on the open market.
You do not already own a home or you will have sold your current home before you purchase or rent.