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Shared ownership could be your step onto the property ladder. This home ownership scheme allows you to buy a share in your home (normally 50%) and rent the remaining share. Over time, you can buy more shares in your home until you own the full 100%

SHARED OWNERSHIP GUIDE (.PDF)

There are specific criteria which must be met in order to qualify to buy a shared ownership home:

  • You can’t afford to buy a house on the open market
  • You are a British, EU or EEA citizen or have ‘indefinite leave to remain’ in the UK
  • You have at least two years’ of audited accounts if you are self employed
  • Your income fits affordability for the property you wish to buy
  • You have savings to cover the mortgage deposit plus approximately £3,000 for legal, survey and mortgage fees plus stamp duty (if applicable)
  • Your household income is below £80,000 a year
  • You have not had a home repossessed within six years prior to application
  • You have not been made bankrupt/had an IVA (Involuntary Arrangement) and have been discharged for at least three years
  • You cannot be an existing home owner
  • The property must be your main place of residence
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