UpToYou FAQs
You can find answers to your questions about UpToYou here.
Do I have to buy a share of my home?
No, you can remain as a tenant.
What does subsidised rent mean?
It means your rent is calculated to be 80% of the rental value of similar homes in your area. L&Q receives funding from the Homes & Communities Agency to ensure that rent remains below similar homes from private landlords.
Does it matter how much I earn?
If you wish to rent or part-buy, your household income cannot be more than £60,000 per year when you move in.
If I want to buy part of my home, how will I finance it?
Youll need to get a mortgage from one of the high street lenders. Well arrange for you to get expert advice from an independent financial adviser.
What does '5% equity free' mean?
If you have been renting your home for 6 months or more and you go on to buy a share, well give you 5% of the home for free.
What if I want to buy more of my home?
This is called 'staircasing'. This is when you gradually increase the share of your home that you own. You can do this whenever you choose and up to 100%.
What if I rent a home and then want to move out?
After the first six months you can move out whenever you choose with four weeks notice ending on a Monday.
What if I own part of my home and want to move out?
You can sell either the part of your home you own and the new owner will rent the remainder from us or sell it as a whole.
Can I sublet my home?
No. These homes are not available for buy to let and it will be a condition of the tenancy agreement that you are not allowed to sublet. These homes are designed to help people get on the property ladder.
What do I do if I'm interested?
Check out our available properties and call us on 0844 406 9800 or email us at sales@lqgroup.org.uk.
Our available UpToYou properties are:
- St John's Works, Bromley
- The Palette, Amber Apartments, Canning Town
- Elysee, Wandsworth
