Shared Ownership eligibility criteria

There are three main areas which determine your eligibility for Shared Ownership.

1. Eligibility

To buy a home with us, please register with L&Q and check that you meet the Shared Ownership requirements. If you already own your home, or own a home under a Shared Ownership scheme, you can still apply for L&Q Shared Ownership provided you are currently marketing or have already sold your home. You’ll need to be at least 18 years old to be able to obtain a mortgage.

2. Prioritisation

Shared Ownership properties are allocated to people who meet certain criteria. Everyone who applies must meet mandatory requirements, including:

  • A household income under £90,000 in London, or £80,000 outside of London
  • Having a minimum of £5,000 to cover the costs of buying a home
  • Not owning a property, or part of a property, at the time of completing on the purchase of a Shared Ownership home

Applicants are then 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:

  • An existing Local Authority or Housing Association tenant
  • A first time buyer
  • Going to be living in the property with children
  • Already living or working in the same borough as the property
  • MOD personnel

For more specific information on any restrictions that might apply to the property you are interested in, visit the ‘Property Eligibility’ tab within the development listing.

3. Affordability

Household income requirements will differ from development to development in line with factors such as current house prices, the share for sale, and local authority policy. The general guidelines state that you must have a combined household income of less than £90,000 per year within London, and £80,000 outside of London.

L&Q will perform checks to ensure you can afford to purchase and sustain the housing costs before offering you a home.

Once you have registered your interest in a particular L&Q home, you will be sent whatever information is available for that property. More specific pricing information will become available close to the development launch. You can also keep an eye on the development listing for more information on a particular development. You can find out more about the home buying process by watching our video guide to buying a Shared Ownership home.

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.

Apply now

Shared Ownership makes it possible to own your own home – even in London. If you think you are eligible to buy an L&Q Shared Ownership home, please register with L&Q.

You can read more about the application process in our step by step guide.