Shared Ownership eligibility criteria

Am I eligible?

To be eligible to purchase a shared ownership property, you must:

  • have a combined household income under £80,000, or £90,000 in London
  • not own a property, or part of a property, at the time of completing on your purchase
  • have a good credit history
  • have a minimum of £5,000 to cover the costs of buying a home

Each property may also have additional eligibility requirements

Some developments may initially be reserved for applicants who currently live or work in that borough. Household income requirements may also differ in line with factors such as current house prices, the share for sale, and local authority policy.

If you’re buying a home outside of London, you’ll also need to apply with your local Help to Buy agent.

You can find out who’s eligible to live in each development by checking the eligibility section on the property listing you are interested in. We’ll post the eligibility criteria for our properties as soon as we can, but sometimes this is unavailable until closer to the launch.

Is it affordable for you?

When you apply for L&Q Shared Ownership, we ask for detailed information about your income and financial commitments. This helps us determine whether you would be able to afford the costs of buying and maintaining a new home.

In general, you will need approximately £5,000 to cover the costs of purchasing a home. These costs cover things like; the reservation fee, mortgage valuation fee, mortgage arrangement fees, solicitors’ fees, removal costs and utility connection charges.

Are some applicants prioritised?

Yes, priority is given to members of the military. However, shared ownership is open to anyone who meets the eligibility criteria.

All applicants are prioritised by a scoring system, where points are awarded for different criteria. These evaluations look at a variety of factors to assess people’s suitability, including whether the applicant is:

  • already living or working in the same borough as the property
  • a first time buyer
  • an existing Local Authority or Housing Association tenant
  • going to be living in the property with children
  • MOD personnel

Apply to check your eligibility

Applying with L&Q is the only way to confirm that you’re eligible to purchase one of our Shared Ownership homes.

Our application form takes about 20 minutes to complete. It includes questions about your household income and savings, financial commitments, and your current living arrangements. Once your eligibility has been confirmed, you can book a viewing or reserve a property.

Search for homes near you

With our extensive range of properties both in and outside of London, you’re sure to find a home in an area that’s right for you.