Are you eligible for a Shared Ownership home?

Eligibility will vary depending on which property you are looking at purchasing, the property size and whether there are any criteria imposed by the local authority.

General Shared Ownership eligibility criteria
You must be aged 18 or older.
Your annual household income if buying outside of London must be less than £80,000.
Your annual household income if buying in London must be less than £90,000.
You will normally be a first time buyer or be in the process of selling your home. You must not own any other property at the time you buy your new home.
You should not be able to afford to buy a home on the open market which is suitable for your housing needs.
You must be able to show you are not in rent or mortgage arrears.
You must be able to demonstrate that you have a good credit history (no County Court Judgements or bad debts) and can afford the costs and regular payments involved in buying a home.
Please note: You should always check the eligibility required with the specific development, as there may be specific criteria.

Priority for Shared Ownership:
In some instances priority for Shared Ownership properties can be given to applicants:

That work for the Armed Forces / Ministry of Defence.
Who are council and housing association tenants.
Who live or work in the borough in which the property is located over those who currently live or work outside it.
On some developments, secondary priority is given to applicants who live or work in the neighbouring borough

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Waterside Quarter you can buy a minimum 30% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

Are you eligible for a Shared Ownership home?

Eligibility will vary depending on which property you are looking at purchasing, the property size and whether there are any criteria imposed by the local authority.

General Shared Ownership eligibility criteria
* You must be aged 18 or older.
* Your annual household income if buying outside of London must be less than £80,000.
* Your annual household income if buying in London must be less than £90,000.
* You will normally be a first time buyer or be in the process of selling your home. You must not own any other property at the time you buy your new home.
* You should not be able to afford to buy a home on the open market which is suitable for your housing needs.
* You must be able to show you are not in rent or mortgage arrears.
* You must be able to demonstrate that you have a good credit history (no County Court Judgements or bad debts) and can afford the costs and regular payments involved in buying a home.

Please note: You should always check the eligibility required with the specific development, as there may be specific criteria.

Priority for Shared Ownership:
In some instances priority for Shared Ownership properties can be given to applicants:

* That work for the Armed Forces / Ministry of Defence.
* Who are council and housing association tenants.
* Who live or work in the borough in which the property is located over those who currently live or work outside it.

* On some developments, secondary priority is given to applicants who live or work in the neighbouring borough