Who is eligible for Shared Ownership?
Most first time buyers can apply to purchase a property through shared ownership, however priority will be given to:
- Council and housing association tenants
- People on their local council's home ownership and/or rented housing waiting list
- MOD Personnel
If you live with family or friends or in privately rented accommodation, you can still apply. Even if you have owned your own home before you may be able to buy through shared ownership if:
- You owned a home with a partner and the relationship broke down.
- You need to move because of job relocation.
- You are an existing shared owner who needs to move and you fulfil all our criteria.
You can buy with up to four other people, but all applicants must fulfil eligibility criteria and live in the property.
Am I eligible?
In order to qualify you must meet the following criteria:
- You must have been employed on a permanent contract for at least six months.
- If you are self-employed you will need at least two years audited accounts.
If you have ever had a County Court Judgement against you it must be satisfied.
- You must be a UK resident or have the 'right to remain' clearly established and shown in your passport.
You will need to meet the minimum income requirements. These vary from scheme to scheme. We will also take into account any financial commitments you have, such as bank loans, to make sure you can afford the property.
You must have sufficient savings to cover legal fees and moving costs.
We will not be able to assist you if you can afford to buy the property outright on the open market.
Contact Us on 08456 12 12 71