Home Ownership & Rental Options

Interior design There are many different ways you can rent or buy a home with L&Q, so whatever your circumstances, you can be sure of finding a home in a way that works for you.

Searching through the choices available can be daunting so if you have any queries on the options detailed below, please contact one of our sales team on 0844 406 9800 and they will be happy to explain which options you are eligible to apply for.

You will need to apply via your local HomeBuy Agent, or FIRST STEPS in London in order to qualify for any of the options listed below. If you want to find out about eligibility please go to www.homebuy.co.uk (if you live outside Greater London) or www.firststepslondon.org if you live in Greater London.

Shared ownership - the buyers guide

This short video is a complete guide to part-buy, part rent home ownership with L&Q.

Ways to part-buy or rent a home from us

Shared ownership

Our shared ownership scheme allows you to buy a share in a brand new or refurbished home.

You usually pay a mortgage on the part you own and a subsidised rent on the part you don't own. As your income rises you can increase the share you own, until you eventually own 100% and no longer pay any rent to the housing association.

Please download the following guide for more information on Shared Ownership (PDF, 4k) with L&Q.

Choose to rent or buy - UpToYou

UpToYou is an exciting new opportunity brought to you by L&Q that allows you to choose to rent or buy your home. There are several options available and you can find answers to your questions about UpToYou on this website.

Resales

These are shared ownership properties that were built and sold in the past that are now available for purchase on a part buy, part rent basis because the existing owners wish to sell.

HomeBuy Direct

With HomeBuy Direct, you can buy a newly built home on a designated HomeBuy Direct development with assistance from the Homes and Communities Agency and the house-builder, in the form of two equity loans.

You would take out an affordable mortgage (minimum 70% of the total purchase price) on which you make repayments in the normal way. The rest of the purchase price will be paid for with equity loans from the agency and the house-builder (maximum 30% of the total purchase price).

For the first five years of HomeBuy Direct home ownership you will pay nothing on the amount that the Agency and house-builder contributed to your purchase.

Please note there is currently no funding for the HomeBuy Direct scheme in South East and South West London. At present, we are unsure when new build developments may be allocated further funding. When we receive any further information it will be added to the FIRST STEPS website.

Find out more about HomeBuy Direct on the FIRST STEPS website.

Intermediate rent (IMR)

This scheme offers you the chance to rent a brand new or refurbished apartment at a subsidised rent.
The rent charged is normally 20-30% lower than what you would expect to pay for a similar apartment in the same area.
If you are a key worker the rent will cease to be subsidised if you leave your profession.

FirstBuy

FirstBuy is an equity loan product which gives you the opportunity to buy a new home with the help of up to 20% of the full purchase price. The FirstBuy equity loan will be interest free for the first five years with a charge payable from year six. FirstBuy is available from summer 2011 at developments across London from a range of developers building homes in the capital.

Note

All schemes are subject to availability of funding and our eligibility criteria. More detailed information on each scheme will be provided later in the application process. You can find more information about eligibility on FIRST STEPS.