• Can you afford to buy? - Once you've bought your home, you'll be responsible for both the mortgage and the general upkeep and repair costs. We strongly advise you to get some financial advice either before applying or when your sales offer is issued. This advice will help you get a better idea of what your future costs are likely to be
  • Family and friends sharing the right to buy or acquire - All applicants must have a legal interest in the property and be included on the mortgage and legal documents. At least one tenant must want to purchase the home - family members (occupants) are not able to buy it on their behalf
  • Savings - You'll be expected to pay for your own solicitors fees and any charges your mortgage provider may charge you, ie the arrangement fee. Before you finally decide to buy you may want to have a full structural survey carried out on your home. This is a thorough examination of the property that will highlight issues that could present a problem in the future. This survey would be at your own cost
  • What if I've made improvements to my home? Any improvements that you want to be taken into consideration must have been previously approved by L&Q. These improvements must have been paid for by you and we would need to see proof of this. Not all improvements are considered to add value to the home, eg redecoration or general maintenance
  • What if I decide to sell within the first ten years? If you sell within the first five years you'll need to pay a percentage of the discount you were originally given. If you sell in the first ten years you'll need to give L&Q first refusal to buy it back at the current market value

How long does the application process take?

Both right to buy and right to acquire have strict time-scales that must be met by both L&Q and the tenant. These are as follows:

  • Application received - L&Q must respond within four weeks, or eight weeks if you have a previous tenancy with a different landlord
  • Sales offer being issued - L&Q have eight to twelve weeks to gather all the information needed to go into your sales offer. This will detail the property value, discount entitlement and any future costs that you may be responsible for
  • Sale offer response - You'll have twelve weeks to respond to L&Q to let us know if you want to proceed. This time should be used to read the sales offer thoroughly and get advice on whether this is financially viable for you. When you reply to L&Q you'll need to give us the name of you chosen solicitor
  • Receipt of the sales offer response - If accepted, L&Q will then order the conveyancing plans. As soon as these are received our solicitors will be instructed. You'll now have three months to organise your mortgage and complete you purchase

Please note that after submitting your application, only essential maintenance will be carried out on your property. One you become a homeowner, you'll be fully responsible for all repairs and maintenance to your property.

If you are accepted to go ahead with your application, L&Q will need to follow anti-money laundering laws. This means we'll need you to confirm how you'll be funding the purchase. If you're using savings to pay for this, we'll need to see evidence showing where this money came from. Your purchase may be delayed if you don't give us this information when requested, or if you do not respond satisfactorily to any questions that may be raised.

We may also need to use an identity verification agency to confirm your identity.

Not eligible for right to buy or right to acquire?

If you're not eligible, you might want to take a look at the other home ownership options that L&Q offer. You can find more information on your eligibility for these in our help and advice section.