Eligibility Criteria

You must:

  • 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 – this will depend on the price of the home you are interested in – the minimum income for a studio is £30,820 based on a joint application and £37,080 based on a single application.  
  • Minimum income requirements should be used as a guide and may vary depending on a household’s circumstances and financial commitments. For joint applications, this is defined as both applicants being in employment.
  • 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
  • Shared Ownership eligibility criteria will apply on your London Living Rent home, L&Q cannot guarantee you will meet future affordability requirements should you wish to buy a Shared Ownership home

You must not:

  • Already own a property or be in the process of buying
  • Have a household income that exceeds £75,000
  • Have an adverse rental history, for example, rent arrears or damage to a property
  • Have a history of bankruptcy, defaults which include late payments, county court judgments (CCJs) or Individual Voluntary Agreements (IVAs).
  • Have exceeded your agreed overdraft amount or gone into overdraft without having an agreed overdraft in place

 

Apply now and confirm your eligibility for London Living Rent with L&Q