Based on the estimated monthly outgoings we recommend a guidance household income of £ 76,176. Please use this figure for guidance only, as this can be a joint or sole household income. Purchasing a larger share or securing a larger deposit will reduce the monthly outgoings.

You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £24,000 . Total approximate savings required £28,000

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

The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

• Not own another property in the UK or any other country.
• Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
• Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
• Be in full time permanent employment.
• Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
• Have a good credit history.

You will need to be earning a guidance income of £54,235. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £15,050. Total approximate savings required £19,050

Important borough specific eligibility criteria

Southwark
All London applicants will be considered with priority given to Southwark residents

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.

To be eligible for shared ownership with Hackney Sales, you must be able to answer YES to the following questions:

• Are you at least 18 years of age?
• Is your annual gross household income less than £90,000?
• Are you a first time buyer, i.e. you don’t already own a home? If you do already own a home, have you accepted an offer from a buyer and in the process of selling it?
• Are you unable to afford to buy a home suitable for your housing needs on the open market? If you are not sure, you can speak to an independent mortgage advisor
• Are your current mortgage or rent payments up to date?
• Do you have a good credit history (no bad debts or County Court Judgements), and can you afford the regular payments and cost involved in buying and running a home?
• Do you have savings or are you able to easily access at least £4,000 to cover the costs of buying a home? This is a guideline figure, and the actual amount you need will depend on a number of factors
• Do you have enough savings or are you able to access a minimum 10% of the equity share you are buying, as a mortgage deposit? Or do you have the cash funds available to buy the share without a mortgage?

You will need to be earning a guidance income of £53,420.You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £11,125. Total approximate savings required £15,125.

Important borough specific eligibility criteria

London Borough of Hackney

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.

As a guide you will need to have a household income of at least £55,868. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £14,175. Total approximate savings required £18,175.

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.