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Shared Ownership Mortgages

Shared ownership eligibility criteria

Who qualifies for shared ownership, the income caps that apply, and how priority groups work.

2 min readWritten by Ali Jabbar

Shared ownership is meant for people who cannot afford a suitable home on the open market. Whether you qualify depends on your household income, your current housing situation, and the priority groups housing associations use when they allocate homes.

Who qualifies for shared ownership?

To qualify for shared ownership in England your household income must be no more than £80,000 a year, or £90,000 in London. On top of that you need to be unable to buy a suitable home on the open market, and you must fall into one of these groups: a first-time buyer, a former homeowner who can no longer afford to buy, or an existing shared owner who wants to move.

You also have to show you can keep up with the ongoing costs: the mortgage repayments, the rent, service charges and your everyday living expenses.

Priority groups and local connection

Housing associations often give priority to people who already live or work in the local area. Serving military personnel and their families are also prioritised under government guidelines. Individual developments can carry extra conditions set by the local council.

Where a property is in high demand, those with a local connection tend to come first, along with existing social housing tenants and key workers. Your Help to Buy agent can tell you which priority groups apply where you are looking.

What if you have bad credit or are self-employed?

Having bad credit does not rule you out of shared ownership on its own, though it does narrow your choice of mortgage. Some specialist lenders will look at applicants with minor credit issues, especially where the problems are a few years old and your finances have been in good order since.

If you are self-employed you can apply too, though most lenders will ask to see at least two years of accounts or tax returns. A broker who knows shared ownership can point you towards the lenders most likely to accept your situation. Our self-employed mortgage guidance explains what proof of income you will need.

Written and reviewed by

Ali Jabbar

Role
Managing Director
Specialism
Complex Income & First-Time Buyers
Regulator
FCA register
“Most shared ownership cases come down to one thing: the right lender for your circumstances. We’ll find them — and walk you through every step.”
Ali Jabbar

Ready when you are

That's the shared ownership guide. The next step is your situation, your numbers, your circumstances — and that's a conversation. Free, no obligation, take it from there.