Am I eligible?

Shared Ownership also known as Part Buy – Part Rent, is a scheme operated mainly by housing associations, which enables a purchaser to buy a share of a property and pay a subsidised rent on the remainder. The more of the property that is purchased, the less rent is paid.

Eligibility criteria

You must not be able to afford a suitable property that fulfils your needs on the open market.

Your household income must not exceed the maximum limit for the scheme. Please check for further information.

You must have enough savings to cover solicitors fees and the general expenses of moving (approx. £2,500).

You must be a first time buyer or existing home owner*, whose requirements (due to size of family mainly) are for a larger property that is unaffordable on the open market.

*subject to Local Authority approval.

Other considerations

Applicants such as divorced/separated couples can also be considered as long as they have sold their previous property.

You must be able to arrange a mortgage through a ‘high street’ or other reputable lender.

You may have to demonstrate a ‘local connection’ to the area in which you wish to buy. This is generally by showing that you live, work or have strong family links (mother, father, brother, sister etc.) to the area.

You may need to be registered with the Local Authority (Council) in the area in which you wish to buy.

Please note: Applicants who have been in mortgage or rent arrears within the last 12 months are not eligible.

Applicants who have County Court Judgements (CCJs) within the last 12 months will not be eligible.

To read more on how we view adverse credit click here.