Housing provider SO Resi, part of housing association giant Metropolitan Thames Valley Housing (MTVH), has launched a new range of affordable one and two-bedroom apartments in Southall, available through the London Living Rent scheme.
SO Flexi Southall, located on Beaconsfield Road, is being made available to people who live or work in Ealing. SO Resi says the rental cost is offered at a discount of around a third of the local median household income on a three-year housing contract.
Rents start from £956 for a one-bedroom and £1,062 for a two-bedroom. According to MTVH: “Tenants will be encouraged to use the savings from the discounted rent to save up for a deposit and purchase the property using Shared Ownership at the end of the rental term, with the view that all homes will be sold in ten years.”
To be considered for SO Flexi Southall, applicants need to have a household income under £67,000, either live or work in the borough, have an existing tenancy agreement, not own a home or be able to buy a home on the open market.
Kevin Sims, director of SO Resi, said: “Ealing Borough Council has confirmed that they will need almost 28,000 affordable new homes over the next 15 years, and 70% of these should be available at social or affordable rent.
He added: “Last year, we also delivered 52 apartments at SO Flexi Acton in the borough and so far at SO Flexi Southall, we have seen unprecedented demand with over 540 enquiries to date. This demand signifies the need for affordable rent in the capital and the SO Flexi scheme offers a solution for people unable to save alongside costly rental prices.”
, has now started to offer affordable rentals based around the London living rent with one and two-bedroom apartments in Southall.){kind=link}