Buying your London Living Rent, Rent to Homebuy or UpToYou home

Guidance on buying your rented home at a discount through the London Living Rent, Rent to Homebuy or UpToYou schemes. This includes information about eligibility, cost and how to apply. 

London Living Rent (LLR)

Funded by the Mayor of London, LLR is a government-backed scheme that enables you to rent a home at a discounted rate, sometimes up to 50% less than a similar property on the open market.

This scheme helps you to save additional money each month, which can go towards buying a home through shared ownership.

Find out more about LLR on the LQ Homes website.

Rent to Homebuy and UpToYou

These two schemes work similarly to LLR and allow you to rent at a discounted rate while you save for a deposit.

They are currently not available for new customers, but some of our existing residents may be on such tenancies.

All three schemes provide the opportunity to buy your home when you’re financially able to – whether that’s outright or via shared ownership. 

Eligibility criteria

You can buy your LLR, Rent to Homebuy or UpToYou home if:

• you live in an L&Q rented home with an LLR, Rent to Homebuy or UpToYou tenancy
• your household income is equal to or less than £90,000*
• you've lived in your home for the initial three-year tenancy (LLR only)
• you've lived in your home for at least six months and passed the initial tenancy period (Rent to Homebuy and UpToYou only)
• you've got enough funds to buy the home**
• you're adhering to the terms and conditions of your tenancy
• you’re not in any rent or service charge arrears or linked to any antisocial behaviour
• you're not overcrowded and the home meets your current needs
• you meet our home ownership criteria

*You would be expected to buy your home outright if you earn more than £90,000.

**You need to have enough funds to cover the cost of buying your home and at least a 5% to 10% deposit. This is required by most mortgage lenders to put towards your share.

Financial advice on costs

It’s a good idea to get some financial advice before taking the next steps to buy your home.

We have a panel of independent financial consultants who can help you assess if you can afford it:

• L&Q’s panel of financial consultants (PDF)

We estimate that buying your home will cost between £5,000 and £10,000. This does not include the money you’ll need for a deposit on your mortgage – which is usually 5% to 10% of the amount you are borrowing.

You'll also need to consider the following costs:

• legal fees
• the mortgage arrangement fee
• the survey or valuation fee
• Stamp Duty Land Tax (SDLT)