Qualifying for Shared Ownership: Are You Eligible?
Please note this information relates to Shared Ownership in England only.Before applying to buy a Shared Ownership property, you should first review the eligibility criteria and assess if your application is likely to be successful. We’ve outlined the criteria for Shared Ownership in England below.
Why would I use Shared Ownership and not buy a home outright?
Shared Ownership is more appropriate for you if you are unable to afford a deposit and mortgage payments on a suitable property for you and your family at its full market value.
However, you must still be able to afford a deposit and mortgage payments for the share you are buying, alongside rent to a landlord (usually a Housing Association).
How much can I earn to apply for Shared Ownership?
There’s an upper household income threshold of £80,000* in England. This is a combined income, so if you’re buying with a partner, you will need to calculate how much you earn between you. If you earn more than this, you will not be able to apply.
*In London, the upper limit is £90,000. This is because house prices are higher in London than the rest of England.
What other criteria must I meet to apply for Shared Ownership in England?
In addition to the criteria mentioned above, you must meet one of the following conditions:
- you are a first time buyer;
- you used to own a home but can no longer afford to buy outright;
- you want to move from one Shared Ownership property to another;
- you are setting up a new household, for example after splitting up with your partner;
- you currently own a home, and wish to move but cannot afford to buy outright.
What other considerations are there for Shared Ownership eligibility?
Connections to the area
For some properties or developments, you may have to prove you have a connection to the area you want to buy a Shared Ownership home - for example you work or live there already. Please check the conditions set out by the Housing Association or landlord who are selling the shares before you apply.
Age limits
You can only buy a home using the regular Shared Ownership scheme if you are under the age of 55 at the time of purchase. If you are 55 or older, you’ll have to apply for the Older Persons Shared Ownership (OPSO) scheme.
Serving in the Armed Forces
If you are a serving member of the Armed Forces, and you have applied for a Shared Ownership home alongside other families, your offer will usually be given priority for the purchase. You may also find that your offer is prioritised if you previously served in the Armed Forces.
Shared Ownership Eligibility in Scotland and Wales
Many eligibility criteria for Shared Ownership in Scotland and Wales are the same as in England, but there are differences to be aware of. For instance the threshold for household income is lower in Wales.
More on Shared Ownership
This article is for informational purposes only. Please speak to a mortgage advisor, Housing Association or a mortgage lender for further information.
Date posted April 16th, 2025
