Here is a comprehensive essay outlining the legalities, methods, and realities of buying a British title. The Pursuit of Prestige: Buying a Lord Title in the UK

The most common and affordable "Lord" titles seen on the internet are based on the sale of small souvenir plots of land, usually in Scotland.

In Scotland, the owner of a landed estate is traditionally referred to as a "Laird." The English translation commonly used for Laird is "Lord."

Most hereditary titles are passed down through bloodlines and cannot be transferred to a third party via a sale.