Sadiq Khan unveils plan for rent-controlled homes across London
London Mayor Sir Sadiq Khan has launched new plans to build thousands of affordable, rent-controlled homes in London.
These homes will be specifically made available to key workers who are struggling to afford a home but are not eligible for social rented housing.
Khan said that key workers account for around a third of Londoners who work in the city, adding that this scheme will save them thousands of pounds in rent each year.
The scheme will see up to 6,000 new homes started in London by 2030, and will include the delivery of housing intended for sharers, allowing single Londoners the ability to afford a space of their own.
Compared to the average rent in the private sector, Khan expects that those living in a one-bedroom home under this rent-controlled scheme could save £4,500 per year, while those living in a two-bedroom homes could save around £7,000.
Homes delivered under this scheme aim to offer an affordable option for long-term rent, and there will be no expectation for tenants to buy a share of their home.
Khan said this scheme’s approach to rent setting and increases is also simpler than others such as Shared Ownership, and he encouraged councils and housing associations to bid for funding for Key Worker Living Rent homes through his programme.
“Key workers, including teachers, nurses and bus drivers, play a critical role in keeping our city moving, working around the clock to deliver vital public services for millions of Londoners,” Khan said.
“It is only right that these hardworking Londoners can afford to live in a decent, safe home in the city they are serving.”
“That’s why I’m proud to launch my innovative ‘Key Worker Living Rent’ scheme, which will help NHS staff, police, firefighters and others into thousands of affordable homes for long-term rent, saving potentially thousands of pounds each year,” he said.
