Shared ownership

Eligibility

If you meet certain criteria, shared ownership presents an opportunity for homeownership:

• Your annual household income is £80,000 or less (£90,000 or less in London).
• You're unable to cover the full deposit and mortgage payments for a suitable home in the traditional manner

Additionally, one of the following conditions must apply:

• You're a first-time buyer.
• You previously owned a home but are currently unable to purchase one.
• You're establishing a new household, such as after a relationship breakdown.
• You're an existing shared owner looking to relocate.
• You own a home but cannot afford a new one that meets your needs.

For some properties, you may need to demonstrate residency, employment, or a connection to the desired area.

If you already own a home

If you currently own a property and are purchasing a shared ownership home, the following conditions apply:

• You must have formally accepted an offer for the sale of your current home (referred to as 'sold subject to contract' or 'STC').
• You must possess written confirmation of the agreed sale terms (referred to as a 'memorandum of sale'), which includes the sale price and your intention to sell.
• The sale of your current home must be finalized on or before the completion date of your shared ownership home purchase.

CLICK HERE TO VIEW OUR GUIDE TO PURCHASING A SHARED OWNERSHIP PROPERTY