Before you go shouting from the rooftops about the benefits of Shared Ownership, you will need to find out if you are eligible. Shared Ownership eligibility is geared towards first-time buyers who need help the most, so if you own a handful of homes already – stop reading!

Am I eligible?

Looking to buy a Shared Ownership home and wondering if you are eligible? The general eligibility criteria for Shared Ownership are as follows: 

  • As with any house in the UK, you must be an adult - at least 18 years of age – to buy a Shared Ownership house. 
  • Outside of London you have to be earning a salary less than £80,000. 
  • In London, your annual household income must be less than £90,000. 
  • Shared Ownership homes are geared towards first-time buyers, so having a hidden home is not a great idea. 
  • If you do already own another property (either in the UK or abroad), you must be in the process of selling it.
  • If you can afford to buy a home on the open market, you can’t apply for Shared Ownership.
  • While Shared Ownership is aimed at home buyers who need extra help, you will have to show that you have a good credit history and can afford the regular payments and costs of a Shared Ownership home.