Eligibility

You may be eligible for this property if:

· Register your interest (pink button on the right)

· Have a passed initial financial assessment with one of the below companies:

SRC Mortgage Solutions (https://www.srcmortgagesolutions.com/)

TMP The Mortgage People (tmpmortgages.co.uk)

Mortgage Advice Bureau | UK’s leading mortgage intermediary (https://www.mortgageadvicebureau.com)

· You have a gross household income of no more than £90000 per annum when eligible to purchase.

· Live or work in the borough

· You are unable to purchase a suitable home to meet your housing needs on the open market. (Shares cannot be purchased in cash unless you are unable to obtain a mortgage due to age or religious grounds)

· You do not already own a home, or you will have sold your current home before you purchase or rent.

· To purchase this 50% minimum share you will need a minimum joint household income of £63,154 and available savings of £12,500 for a 5% mortgage deposit.

You may be eligible for this property if:

• You have a gross household income of no more than £80,000 per annum.
• You are unable to purchase a suitable home to meet your housing needs on the open market.
• You do not already own a home or you will have sold your current home before you purchase or rent.

Who is it for?

As long as you are over 18
Your household income is less than £80,000
And you don’t already own a home at the time of buying your shared ownership property

… then shared ownership could be right for you

You will need to be earning a guidance income of £79,750. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £19,500.Total approximate savings required £23,500.

Important borough specific eligibility criteria

Newham

All London applicants will be considered – with preference given to those who are either living or working in the Borough.

Applicants must be earning under £90,000 to be eligible for one, two and three bedroom apartments.

If you are an existing homeowner we will not be able to allocate you a home unless you have found a buyer for your existing home and are deemed to be in need of housing by your local council

You are eligible to purchase a Home Reach property in England or Wales if:

· Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)

· You have a deposit (at least 5% of the share value)

· You are a first-time buyer or used to own a home, but cannot afford to buy outright now

· The shared ownership property will be your principle and only home

· You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.

· Household minimum income must be above £46,446

You will need to be earning a guidance income of £72,949 .You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £21,000. Total approximate savings required £25,000

Important borough specific eligibility criteria

Hammersmith and Fulham

Applicants who live and / or work in Hammersmith and Fulham will be prioritised, pan-London applicants will be considered. H&F will only accept applicants who have registered with the H&F council directly. You will not be able to book a viewing for this resale without your H&F reference number. This property will not go to anyone not registered with H&F for a minimum of eight weeks.

Applicants must be earning under £90,000 to be eligible for one, two and three bedroom apartments.

If you are an existing homeowner we will not be able to allocate you a home unless you have found a buyer for your existing home and are deemed to be in need of housing by your local council.

As a guide you will need to have a household income of at least £51,407.You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £14,000. Total approximate savings required £18,000.

Important borough specific eligibility criteria

Hackney

All London applicants will be considered with priority given to people who live/work in the borough.

Applicants must be earning under £90,000 to be eligible for one, two and three bedroom apartments.

If you are an existing homeowner we will not be able to allocate you a home unless you have found a buyer for your existing home and are deemed to be in need of housing by your local council

You are eligible to purchase a Home Reach property in England or Wales if:

· Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)

· You have a deposit (at least 5% of the share value)

· You are a first-time buyer or used to own a home, but cannot afford to buy outright now

· The shared ownership property will be your principle and only home

· You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.

· Household minimum income must be above £12,000

Please note that eligibility conditions apply and applicants will be means tested for affordability. You may be assessed to purchase a larger share than advertised depending on your finances. Prices are subject to change.

Applicants with local connections may take priority.

• You have a gross household income of no more than £90,000 per annum.
• You will need access to savings of at least £4,000 to cover the cost of buying the home.
• A minimum 5% deposit approx £6,720.
• You are unable to purchase a suitable home to meet your housing needs on the open market.
• You do not already own a home or you will have sold your current home before you purchase or rent.
• Applicant living or working in the borough of Tower Hamlets will be given priority.