Relocating to London: The Ultimate Guide

In 2023, over 1 million people chose to settle in the UK. London, heavily favoured by expats, is among the oldest European cities. The UK's cosmopolitan capital offers a wealth of cultural diversity, authentic Gothic architecture, interesting cuisine and a host of opportunities for career development, education and leisure. In our guide, you will find out what to consider when planning a relocation to London.

Initial Preparation when Relocating to London

The key to a successful relocation is to get the information you need in advance, assess the pros and cons of your chosen city (or country) and plan the process in detail. We've already looked at the top reasons for moving to the UK. When it comes to relocating to London, we advise you to familiarise yourself with aspects such as:

Documents required for moving

To stay in London long term, you will need a visa, the most common being work and student visas. To be issued, you must have received an offer of employment or study from a UK-based employer or university beforehand. After Brexit, the visa requirement also applies to those coming from EU member states. The conditions for obtaining a visa include being able to speak English. The validity of the work visa is 5 years, and the student visa varies depending on the length of the course chosen. Among the conditions for applying for a student visa is that you must be at least 16 years old. For those moving with their family, a family visa is required. Planning a move to London, you can quickly and easily check if you need a visa.

The potential costs you will have

Here we are referring to both the costs associated with moving and the money you will need to live well in London. Take a practical approach by calculating in advance how much you will need to cover your rent and accommodation for the first few months. The standard of living in the UK capital is high. Prices for food, services and leisure activities are also relatively high. Before you move to London, we advise you to plan your monthly income and expenditure and assess objectively whether you can cope financially. Relocating to London also involves opening a bank account. For this you need to have a permanent address.

Working climate

We've already mentioned that one of the prerequisites for a long-term move to London is to have a visa. It allows you to pay taxes based on your income, apply for various government programs and get involved in community initiatives in the city. To get a visa, you should have been offered a job with a salary at least equal to the minimum wage. It is calculated according to the age of the employee, and as of 2024, the minimum hourly wage is accordingly:

• £11.44 for employees aged 21 and over.
• £8.60 for employees aged 18-20.
• £6.40 for those aged 16-17.
• £6.40 for those with work experience

You can apply for a position in London by applying online, networking with useful contacts, a recommendation from an employer, or by contacting the company you would like to work for directly. Some of the fields with the highest salaries in the UK (and London in particular) are commerce, finance, law, medicine, marketing, IT and engineering. There are also good salaries for positions in services, restaurants, tourism, and personal care.

Education opportunities

London is home to many elite universities, including:

• Imperial College London
• King's College London
• The London School of Economics and Political Science
• Queen Mary University of London
• Brunel University of London

Although studying in London is significantly more expensive than in the rest of the UK, it is also associated with better opportunities for further career development. Another advantage of studying in the capital is that the city offers the opportunity to meet students from different cultures and excellent fun activities. The most popular courses include computer science, law, psychology, business, engineering and economics.

Relocating to London: Cost of Living

Insider Monkey ranks London as the eleventh most expensive city to live in Europe. By comparison, it is ahead of cities in the Nordic countries and Switzerland. The high cost of living in the UK's capital is linked to high rents, labour shortages and additional household costs. Prices in London in 2024 amount to:

• £15 - lunch including a drink
• £71 - a pair of branded jeans
• £1.42 - a litre of fuel
• £157 - monthly public transport card
• £2.43 - cold medicine
• £38 - dinner for two in a restaurant
• £12 - cinema ticket

Other key costs are those for:

Rent: The amount you'll spend on rent once you move to London is one of the biggest monthly budget items. The average rent for a furnished two-bedroom flat in central (and correspondingly more expensive) areas of the city is estimated to be close to £4,400. Significantly lower are the rental prices for the same sized home, however, located in more remote areas of the city - around £3,700.

Council taxes: Council taxes are another cost associated with moving to London. These vary across eight bands and are calculated based on the borough you live in and the value of the property you occupy. You can find out the exact council tax rates online by entering the postcode of the area you live in.

Utilities: the cost of utility bills such as water, electricity, heating and waste collection are based on the size of the home and the area you live in. The monthly cost of utilities for a three-bedroom home is estimated at around £250. The amount can vary depending on the number of people living in the home. Monthly internet would cost you around £26.

Transportation: when it comes to public transport options after relocating to London, it is important to know that the city is divided into six zones. Zone 1 covers the city centre, shopping areas and main tourist attractions, while Zone 6 covers the suburbs of London (including Heathrow Airport). For those moving permanently, an Oyster card is recommended, which can be used to quickly and easily pay for the various modes of overground and underground public transport, as well as some suburban trains. Charging is done by tapping the card on a designated yellow reader. You can also pay with a contactless debit card. There are daily and weekly caps on fares per journey. Once the appropriate cap is reached, you will not be charged extra, regardless of your number of trips. The amount varies depending on the zones and time ranges in which you travel. If you choose to travel in the city's typical black cabs, you should be aware that the minimum fare is £3.80.

Moving to London: Sorting a Place to Live

London is divided into 32 boroughs (located in 5 main districts - West, East, North, South and Central), each meeting different needs. Here's which ones are best suited to:

• Young Professionals: the Angel (North), Bethnal Green (East), Peckham (South), Shepherd's Bush (West), and Soho (Central) areas.
• Those planning a family move: Archway (North), Dalston (East), Greenwich (South), Fulham (West), and King's Cross (Central)
• Students: Camden (North), Shoreditch (East), Brixton (South), Hammersmith (West), and Covent Garden (Central)

When choosing a home in London, it is a good idea to consider aspects such as:

The budget you have: calculate your monthly income and decide what type of housing you can afford. When choosing, do not underestimate criteria such as the size of the property, location, availability of furnishings, cost of utility bills, and amount of deposit you should pay before moving in.

Transport links: Cosmopolitan London covers a huge area, and travel times between different areas of the city are often underestimated. When researching possible housing alternatives, also consider whether there is convenient transport (or connectivity to other lines) to get to your workplace, university or your children's nursery quickly. We advise you not to compromise on location at the expense of low rent, as monthly transport charges may exceed the initial budget.

Lifestyle: Do you prefer peace or are you into socialising and a boisterous nightlife? Answer these questions before renting a home in London. Consider the availability of parks and open spaces. If you live with your family, look for a neighbourhood where you can easily access important services related to your children's health, education and entertainment.

Rent, don't buy: We advise you not to rush into buying a property in London. Immediately after the relocation, you can rent the home for a year. This will give you a chance to get used to the lifestyle and adapt to the local community. Given London's multicultural society, it is particularly valuable for expats to head to an area where they know there are distinct national communities of their countrymen.