Rent to Buy Frequently Asked Questions

Supporting our Customers

Our Lettings Team is on hand to assist customers throughout their Rent to Buy journey, from initial viewings right through to the handover of keys, helping them find the right home based on their individual circumstances. We are available to discuss any questions or queries customers may have during the Rent to Buy process.

Learn more about Rent to Buy here.

Frequently asked questions about Rent to Buy:

About Rent to Buy

The initial tenancy is two years, providing stability in a fast-paced rental market.

It is recommended you put the savings you make on the discounted rent towards a house deposit. 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.

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

We will work with you to assess what purchase options are best suited to your financial circumstances. We have a variety of homes available through different buying schemes at L&Q to make sure you purchase or rent the home right for you.

We understand that a lot can happen in two years. Should your circumstances change within your tenancy term, you will be required to inform your Property Manager who will advise you accordingly.

You do not need a mortgage to rent a home through the Rent to Buy scheme. You may need a mortgage when purchasing the home after your tenancy has ended.

Eligibility & Applying

This will depend on how quickly you submit the necessary documents outlined by the application form. Non-disclosure of any information, CCJ’s, IVA’s, debt or adverse credit will result in your application being closed immediately and you will not be permitted to re-apply for the Rent to Buy scheme.

All household members aged 18 or over must be included as an applicant within the application. The primary applicant will remain the main point of contact throughout the process

Yes. If you declare that you are married, your spouse must be listed as a second applicant on the application.

A joint application is defined as both applicants being in employment. If only one applicant is employed and the other is not, the application will be assessed under the single minimum income criteria, as the household is considered to have one source of income.

  • Employed Income – You must have 3 months’ consecutive pay slips from your previous or current employer
  • Self-Employed Income – A minimum of 2 Years SA302’s and Tax overviews are required for sole traders and Limited Company Directors (the average net profit of the last 2 years will be used)
  • Fixed Term Contractors – You must have a minimum of 3 months’ pay slips and a minimum of 12 months remaining on your current contract at the time of the tenancy start date
  • Zero Hour Contract Workers – You must have a minimum of 6 months’ consecutive pay slips available
  • Pension Income – Last 3 Month’s Pay slip/statement
  • Universal Credit Statement or Award Letter evidencing Working Tax Credit
  • Personal Independence Payment (PIP) – Latest Annual Statement required
  • Court Ordered Child Maintenance – Copy of court order and evidence of payments received

There is no maximum household income criteria set for Rent to Buy. However, eligibility is restricted to those who are currently unable to raise a deposit to purchase a property.

Yes, you will need to prove you have a good credit history with no history of bankruptcy, defaults which include late payments, county court judgments (CCJs) or Individual Voluntary Agreements (IVAs).

Please email the team via: RTBApplications@lqgroup.org.uk.

Costs, Savings & Deposits

To ensure you can rent a Rent to Buy home with us, you will be required to prove you can provide one month’s rent in advance and five weeks’ rent as a tenancy deposit.

To rent a home through the Rent to Buy scheme with us, you will be required to provide one month’s rent in advance and five weeks’ rent as a tenancy deposit. There are no costs associated with the renting side of Rent to Buy. When you are ready to purchase your Rent to Buy home, you will have to consider the usual costs associated with buying such as conveyancing, stamp duty (if applicable) and surveys.

The deposit is defined as the money required to rent a home with us. The deposit referred to in the application form is not related to funds saved to purchase a home.

Savings are defined as funds across all household accounts aged 18 and over. This includes banking accounts, savings accounts, bonds, ISAs and investments.

Your security deposit will be registered and protected by the Tenancy Deposit Scheme (TDS).

You will be contacted by your Property Manager and negotiations surrounding the release of your security deposit within 10 working days of your tenancy end date.

Your Tenancy

Pets may be permitted with prior written consent. There may be additional charges from our freeholders and third-party agencies.

Yes, a 12-month break clause within the two years fixed term AST.

No, the terms and clauses in the tenancy agreement cannot be amended. You will be given a draft tenancy agreement to review before signing.

Buying Your Home

L&Q have a dedicated Homeownership team who will be able to guide you through the details of purchasing your Rent to Buy home through Shared Ownership. To find out more about Shared Ownership, including if you’re eligible, please see here.

You can contact our Homeownership team via email: purchaseoptions@lqgroup.org.uk  or by calling: 0300 456 9997. Alternatively, you can find more information on our website here.

Locations & Availability

No, homes available through the Rent to Buy scheme are located outside of London. If you’re looking for a home to rent within London, please see our London Living Rent page here.

Please see our latest availability here.

Apply now and confirm your eligibility for Rent to Buy with L&Q

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