For more information, visit: https://lqhomes.com/renting-with-lq/london-living-rent/.
*Find full eligibility criteria at: London Living Rent | L&Q Homes (lqhomes.com).
Name: Lindsay
Job: Paralegal
Type of home: one-bedroom apartment
Deposit: £1,141
Monthly rent: £989.60 – saving of roughly £500 a month.
Lindsay had been previously privately renting with her sister in Walthamstow, until the pair were forced to find alternative accommodation when their landlord decided to develop the block in which they lived.
Scouring London’s competitive rental market, the sisters struggled to find a similar property that would offer them both the space they needed with strong transport links into central London. Lindsay explains, “When my sister and I started our house hunt at the end of October 2022, the rental market was in total turmoil – we were disappointed by the standard of the two-bedroom properties available in the areas that we liked.
“My sister then found a one-bedroom apartment for herself through a discounted rental scheme so we decided that we would have to split up and no longer live together. I was really disappointed, and also jealous of my sister’s new place – I thought I would never find anywhere as nice!”
Redirecting her property search towards Royal Wharf, the area in which her sister had moved to, Lindsay discovered L&Q at The Sugar Works, a contemporary collection of studios and one- to four-bedroom apartments to rent through the London Living Rent scheme. As one of the capital’s largest landlords, L&Q offer a variety of homes to rent across London.
A steppingstone to getting onto the property ladder, London Living Rent (LLR) is a Government-backed scheme which makes saving for a first home more affordable – and achievable. LLR offers high-quality homes in the capital at a discounted rental rate compared to a similar property on the open market. The extra savings can then be put towards buying the home that’s being rented, through Shared Ownership.
“As soon as I came across the Sugar Works on the London.Gov website, I had to apply. L&Q’s apartments seemed to offer me everything that I was searching for in terms of space and modern fixtures, as well as being conveniently located close to the DLR for me to get to work, within a seven-minute walk to my sister’s new place!” Lindsay recalls. “It was the only development that I applied for – I put all my hopes on finding a home there.”
Just three days after being approved as eligible for LLR, Lindsay received an email from Tasia, a Lettings Associate from L&Q. As Lindsay explains, “I sent over my documents which included proof of address, income, employment details and right to rent – I replied to Tasia’s emails within 5 minutes with the hope of getting everything sorted more quickly!
“I then arranged a viewing for the apartments in L&Q at The Sugar Works. Initially, I was only eligible for a studio, but Tasia did her best to find a one-bedroom apartment in the development that would be affordable for me. She really went above and beyond to find me the perfect place, so I was happy to wait two weeks to view the home that would end up being mine.”
Following her viewing, Lindsay paid her holding deposit to secure her apartment. However, a complication with her work contract and referencing threw a spanner in the works.
“As I was on a temporary work contract, it wasn’t initially long enough to pass the referencing stage of the application. The process was put on hold and my deposit was sent back to me, which was stressful at the time. However, L&Q really wanted to help me, so after speaking to my employer about extending my contract, L&Q were incredibly helpful and thankfully reopened my application.
“L&Q helped me secure my dream apartment close to my sister.”
Completing on her new LLR rental agreement, Lindsay went on to move into L&Q at The Sugar Works at the end of January 2023.
“It’s been great having my own space for the first time,” she says, “the standard of the flat is amazing. I was always told by lettings agents that my budget would never stretch to a contemporary newbuild home and here I am – a new bathroom and kitchen as well as new carpets, I absolutely love it!
“I even have a view of the Thames from my apartment which is something I would never have thought possible renting in London. My balcony is the biggest I’ve ever seen – you could have a double bed out there, it’s like a full room!”
Speaking about her new life in Royal Wharf, Lindsay comments, “I’m looking forward to exploring the area properly – I’ve already seen restaurants and cafes nearby and we’re so close to the river. It feels like such an exciting time for me and my sister to enjoy our lives here!”
Since becoming an LLR tenant with L&Q, Lindsay is able to save approximately £500 a month towards a deposit for a future home, which she will be able to purchase either through Shared Ownership or outright.
For more information, visit: https://lqhomes.com/renting-with-lq/london-living-rent/.
*Find full eligibility criteria at: London Living Rent | L&Q Homes (lqhomes.com).