Shared Ownership is aimed at helping those who can’t afford to buy on the open market and therefore there are specific criteria you need to meet to be eligible.

You can buy a home through shared ownership if both of the following are true:

  • your household income is £80,000 a year or less (£90,000 a year or less in London)
  • you cannot afford all of the deposit and mortgage payments for a home that meets your needs

One of the following must also be true:

  • you’re a first time buyer
  • you used to own a home but cannot afford to buy one now
  • you’re forming a new household – for example, after a relationship breakdown
  • you’re an existing shared owner, and you want to move
  • you own a home and want to move but cannot afford a new home that meets your needs

As of April 2016, you’re no longer required to live or work in the borough where you intend to buy. However, with some developments, local authority planning permission may require that preference is given to applicants who already live or work in the area. This is put in place by the local council and not the housing association. Priority will also be given to members of the military.

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