Shared ownership eligibility criteria
Shared ownership is aimed at people who cannot afford to buy a suitable home on the open market. This article explains the eligibility rules, income limits, and priority groups that housing associations use when allocating properties.
In this guide
Who qualifies for shared ownership?
To qualify for shared ownership in England you must have a household income of no more than £80,000 per year, or £90,000 in London. You must be unable to afford to buy a home suitable for your needs on the open market and be either a first-time buyer, a previous homeowner who cannot afford to buy now, or an existing shared owner looking to move.
You must also be able to demonstrate that you can afford the ongoing costs of the property, including the mortgage repayments, rent, service charges, and general living expenses.
Priority groups and local connection
Housing associations often prioritise applicants who live or work in the local area. Military personnel and their families also receive priority under government guidelines. Some developments may have additional criteria set by the local council.
If demand for a property is high, priority is generally given to those with a local connection, existing social housing tenants, and key workers. Your Help to Buy agent can confirm which priority groups apply in your area.
What if you have bad credit or are self-employed?
Having bad credit does not automatically disqualify you from shared ownership, but it will limit your mortgage options. Some specialist lenders will consider applicants with minor credit issues, particularly if the problems are historic and you can show improved financial management.
Self-employed applicants can also apply, though most lenders will want to see at least two years of accounts or tax returns. A broker experienced in shared ownership can identify lenders willing to work with your circumstances.
Related guides
More guides in our shared ownership mortgage hub.
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