Sublettings

Because shared ownership and Equity Loans homes are subsidised by the government, there is a clear requirement that people who buy cannot do so without help.

Therefore Shared owners and Equity Loan customers are expected to live in their homes and subletting is not usually permitted.

Only under very exceptional circumstances are we able to consider subletting. Any decisions to allow subletting is not a decision, which L&Q take lightly and this would only be a temporary arrangement.

If we approve a subletting case it is at the sole discretion of the manager of conveyancing services.

If we consider your request we will need the following information:

• The letting must be on a formal Assured Shorthold Tenancy agreement. We will need to see a copy of this agreement.
• You must provide us, in writing, with your reasons why you wish to let the property.
• If you are being relocated in your job we will require written confirmation from your employer, this must include the length of time you will be relocated.
• The maximum term that we will consider is one year. After a year we expect you to either return to the property, staircase to 100% or sell the property and repay us.
• You must provide us with contact details in case we need to discuss your tenant with you.
• You will be responsible for your tenant during the course of the letting.
• You must ensure that rent and service charges are paid on time (if applicable).

Please note that failure to receive our written approval to sublet means that your application has not been approved and therefore you will be in breach of your lease/terms of agreement.

If you are an equity loans customer, there are administration charges (91 KB) for dealing with your application. We make a charge to cover the cost of providing a service to you. Our shared ownership customers pay a fee included in their monthly service charges to cover the cost of us providing this service.

If you require any further information on letting your property please contact L&Q Direct.