Balcony area at The Chain

When you’re not quite ready to buy a new home, and need a little help saving towards a deposit, Rent to Buy could be the perfect option for you.

What is Rent to Buy?

Rent to Buy is a government scheme designed to transition you from a renter into a homeowner.

Homes under the Rent to Buy scheme have subsidised rents, which means they are often priced at up to 80% of which you would expect to pay for a similar property on the open market. The aim of renting a home through Rent to Buy is to save the extra money you would be spending on renting privately to put towards your deposit to buy your home.

At the end of your tenancy, you have the option to buy a share of the home you’re renting in, through Shared Ownership or outright. Alternatively, you can use your deposit to purchase another property.

Rent to Buy allows you to rent and save for your deposit now and then when you’re ready, buy later.

Rent to Buy is available on properties outside of London. Properties in London are covered by a separate scheme called London Living Rent.


Couple talking in kitchen

How are the rents calculated?

The rent you pay on a Rent to Buy property is set at 20% below the market rent for a similar property on the open market.

Am I eligible for a Rent to Buy property?

To rent a home through Rent to Buy with L&Q, you must:

  • Be a first-time buyer
  • Be in full-time employment
  • Demonstrate you have a good credit history (no bankruptcy, defaults or late payments, County Court Judgements or Individual Voluntary Agreements)
  • Demonstrate you have a good rental history (this includes no rental arrears or damage to a property)
  • Have the right to rent – proven by possession of British/EU/EEA Citizenship or a valid UK residency visa
  • Meet the minimum income and affordability standards – this will depend on the price of the home you are interested in.

You must not:

  • Own any other residential home in the UK or abroad or be in the process of buying a property;
  • Do not have the intention to purchase a home at the time of application

For some properties, there may be additional criteria such as priority given to those who currently live or work in the area which is specified by the local authority.

How do I apply for a Rent to Buy home?

Rent to Buy Frequently Asked Questions

How long is a Rent to Buy tenancy?

The minimum tenancy is five years, providing stability in a fast-paced rental market.

The maximum a tenancy can be is X years.

During your tenancy, we are on hand to help you and check in on your savings goals. We will provide you with any information you need on buying your Rent to Buy property so you’re fully prepared when the time is right.

Do I have to buy the home I am renting in?

We understand that circumstances can change over five years therefore there is no obligation to buy your Rent to Buy home with us. After your tenancy has come to an end and you cannot buy the home you have rented, you will be required to move out of the property.

What happens if I cannot afford to buy the home I am renting in?

We will work with you to assess what purchase options are best suited to your financial circumstances.