London Living Rent
Found the home you are looking for, but struggling for the deposit? At Optivo, we know everyone’s circumstances are different, that’s why we are offering a scheme called ‘London Living Rent’ to help you get closer to purchasing a place to call your own.
London Living Rent homes are available to households with an income of less than £60,000, who currently rent or live with family or friends, but want to build up savings to buy a home.
If you are currently living in Social Housing or on the Local Authority waiting list, you’ll be given priority when applying to our London Living Rent scheme.
Exclusively available in London boroughs, you’ll rent a London Living Rent home from Optivo, with the aim to buy that home within the next 10 years, either via Shared Ownership or as an outright purchase (that means no other home buying scheme is used, it’s just a mortgage and savings).
You can purchase the home at any time during the 10 year period, but you cannot rent it for any longer than this 10 year period. If you do not wish to buy the home you have been renting, you will have additional priority for other Shared Ownership homes across London.
You’ll pay a reduced rent of around 80% of the market rent amount, allowing you to save the remaining 20% toward your deposit for the future.
Your tenancy is assured for 3 years, and the rent you pay will vary depending on the size of the home you rent, and which borough you will be renting in.
So, if you’re wanting to buy a home in the future, but are struggling to save a deposit, London Living Rent with Optivo could make your home ownership dreams a reality.