Am I eligible for shared ownership?

Your total household income must be:

• £80,000 a year or less if you're buying outside London.
• £90,000 a year or less if you're buying in London.

If you're applying with someone else, your household income is your combined earnings and must be within the limit.

If your household income exceeds the amount, you won’t be able to apply for shared ownership.

Shared ownership is designed to support people who can’t afford to buy a home outright.

For that reason, you’ll need to show that you can’t afford all of the deposit and mortgage payments for a home that meets your needs.

However, you’ll still need to be able to afford the ongoing costs of shared ownership (more on that below).

You’ll need to meet at least one of the following conditions:

• You’re a first-time buyer.
• You used to own a home but can no longer afford to buy one.
• You’re an existing shared owner looking to move.
• You’re forming a new household, for example after a relationship breakdown.
• You own a home and want to move but cannot afford a new home that meets your needs.

While many applicants are first-time buyers, the scheme is not limited to them.

In most cases, you can’t own another property when you buy a shared ownership home.

If you already own a home, you’ll need to sell it before completing.

Even though shared ownership lowers the costs to homeownership, you'll still need to show you can afford it.

This includes:

• A deposit (often 5–10% of your share, not the full value of the home).
• Mortgage repayments.
• Rent on the remaining share.
• Service charges and other housing costs.

Both mortgage lenders and housing associations will check your finances before approving your application.

To be eligible for shared ownership, you must also:

• Be aged 18 or over.
• Use the home as your main residence.