What is shared ownership and how do I find out more information?
Shared ownership is an affordable way for you to become a homeowner. You buy a share in a new home and pay a subsidised rent on the remaining share. You can then buy more shares in your home in the future, this is called ‘staircasing’. As you buy a bigger share, your rent will go down accordingly.
Can anyone apply for shared ownership?
Most first-time buyers can apply to purchase through this scheme.
Eligibility is assessed based on the following criteria:
- You must have been in permanent employment for at least six months.
- If you are self-employed, you will need at least two years of audited accounts
- You have a gross household income of less than £80,000.
- Your total housing cost must be between 25-45% of your income.
- Any County Court Judgement against you must be satisfied.
- You must be a British or EU/EEA citizen or have indefinite leave to remain.
Further information on shared ownership and our promise, eligibility, costs and more can be found here.
Where are the properties advertised?