 'It just makes me feel quite hopeless. I feel like I'm in this invisible range.' Sam has been told he doesn't earn enough money to qualify for an 'affordable housing' rent scheme in London. He earns just under £33,000 a year. The 26-year-old has been paying £925 per month for a private room in a two bedroom flat in east London and was hoping to save money by applying for the London Living Rent scheme. A scheme partly funded by the Mayor of London's office, it's described as providing 'a type of intermediate affordable housing for middle-income Londoners who want to build up savings to buy a home'. It sounds like Sam would fit that exact category. But apparently not. And he's not alone in his struggle, reports the BBC. Many landlords are insisting that applicants must earn between £35,000 and £60,000 to be in with a chance of approval. People are being told a £30,000 salary is not a high enough income to be eligible for an 'affordable housing' scheme (Picture: Getty Images) The whole purpose of the scheme is ultimately to help people like Sam who want to get their foot on the property ladder by providing reasonably priced accommodation. Rental rates are set at least 20% below the market value and affordable rents can be offered by councils, housing associations and private firms, as long as they are a 'registered provider' of social housing. When he applied for a flat in Newham, the advert by housing association L&Q stated a maximum income of £60,000 in order to be eligible, but didn't show a minimum figure. It also offered the security of a three-year tenancy agreement and an option to buy the property should he wish to. But he was refused because of his 'low income' and told by L&Q that he needed a minimum salary of £36,000. The average salary in the capital is around £34,000 per year, according to the Office for National Statistics){kind=link}
NEWS… BUT NOT AS YOU KNOW IT
‘It just makes me feel quite hopeless. I feel like I’m in this invisible range.’
Sam has been told he doesn’t earn enough money to qualify for an ‘affordable housing’ rent scheme in London.
He earns just under £33,000 a year.
The 26-year-old has been paying £925 per month for a private room in a two bedroom flat in east London and was hoping to save money by applying for the London Living Rent scheme.