He is the latest academy player that Exeter have sold in recent years following the likes of Jay Stansfield, Alfie Pond, Jack Stacey and most memorably Ollie Watkins and Ethan Ampadu.

Neither club has disclosed if there is a sell-on clause in the agreement.

Richards has made six starts and five substitute appearances for the Hatters this season, scoring his first Luton goal in the 3-0 win at Stockport County earlier this month.

“Jake is someone I see bits of myself in, especially as a young left-footed midfielder making his way into senior football playing off the right,” Luton boss Jack Wilshere told the club website.

“Credit to the recruitment team and previous management for identifying his talent coming through at Exeter and bringing him to Luton when the opportunity arose.

“He has a lot of experience at the level already for someone who only recently turned 18, and he’s got a great attitude to keep learning and progressing.”