Housing for Teachers
Affordable housing for teachers in London
The Mayor Sadiq Khan wants to support teachers by making it easier and more affordable to teach and live in London.
We know the cost of housing can make it tough even for those with above-average incomes to live here, particularly long term.
That's why the Mayor is investing £4.82bn to build 116,000 new affordable homes for Londoners.
These will include homes for middle income Londoners, like teachers, who can't afford to buy a home on the open market. These homes will include a mix of:
- London Shared Ownership - Londoners buy a share of a home from the housing association or local authority and pay low rent on the remaining unsold share. This option is for households with incomes of no more than £90k a year.
- London Living Rent - Rents are set at around a third of average local incomes for up to ten years to help tenants save for a deposit - potentially for London Shared Ownership. London Living Rent homes are available to households with incomes of no more than £60k a year. Local councils and housing associations offering London Living Rent homes will set up their own application processes.
The government also offers several Help to Buy schemes, to help would-be-first-time buyers.
The Mayor has launched Homes for Londoners. This new online tool allows Londoners to search for London Shared Ownership, London Living Rent and Help to Buy homes in the city.
Some London local councils also have their own registers for those interested in shared ownership and below market rent homes.