Shared Ownership Eligibility

There are some general eligibility requirements that anyone wishing to buy a Shared Ownership home must meet. The general eligibility criteria for Shared Ownership is as follows:
  • You must be at least 18 years old
  • Outside of London your annual household income must be less than £80,000
  • In London your annual household income must be less than £90,000
  • You should generally be a first time buyer, i.e. you don’t already own a home. If you do already own, you must be in the process of selling it
  • You should not be able to afford to buy a home suitable for your housing  needs on the open market
  • You must show you are not in mortgage or rent arrears
  • You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home

You should have savings or to be able to easily access at least £4,000 to cover the costs of buying a home. This is a guideline figure – the actual amount you need will depend on the Help to Buy option you choose

In most cases you will also need to have enough savings or be able to easily access a minimum 5-10% of the equity share you are buying, as a deposit.

Please note: You should always check the eligibility required with the housing association selling the property, as they may have specific criteria.