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.