Applying for a shared ownership home
If you are interested in applying for a shared ownership home you must first register with a Help to Buy agent.
We can then see if you are eligible to apply, and support you with the application process.
We are one of the three agents appointed to cover England (excluding London, are managed by the Greater London Authority (opens in a new window). We cover the midlands which includes properties in Nottinghamshire, Northamptonshire, Lincolnshire, Leicestershire, Derbyshire, Rutland, Worcestershire, Warwickshire, Staffordshire, Shropshire, Herefordshire, West Midlands and Greater London.
The other two agents cover properties in the:
- north of England (opens in a new window) - covering Merseyside, Lancashire, Greater Manchester, Cumbria, Cheshire, Durham, Northumberland, Tyne and Wear, North Yorkshire, South Yorkshire, West Yorkshire, East Riding of Yorkshire.
- south of England (opens in a new window) - covering Bedfordshire, Berkshire, Bristol, Bath, Somerset & Mendip, Buckinghamshire, Cambridgeshire, Cornwall (including the Isles of Scilly), Devon, Dorset, East Sussex, Essex, Gloucestershire, Hampshire & Isle of Wight, Hertfordshire, Kent, Norfolk, Oxfordshire, Suffolk, Surrey, West Sussex, Wiltshire.
If you wish to purchase a share of a property in an area covered by one of the other agents, or by the Greater London Authority, you will need to contact them directly.
Who is eligible for Help to Buy: Shared Ownership?
You do not need to be in rented housing, on a local authority waiting list or a first-time buyer to access shared ownership. If you are a current home owner and wish to move to a shared ownership home, then you can.
Also, if you buy through shared ownership and need, or want, to move then you can do so by selling your home and buying another shared ownership property. You must continue to meet the eligibility criteria for shared ownership, including being unable to afford to purchase a suitable home on the open market.
Note that if you own a home currently, either outright or through shared ownership, then you will need to sell your existing property before, or at the same time, as buying a shared ownership home.
Help to Buy: Shared Ownership, in England is available to those who:
- can’t afford to buy a suitable home on the open market
- have a household income of £80,000 a year or less outside of London
- are assessed as being able to afford and sustain shared ownership.
Priority for British Armed Forces
The only group of people that have priority for shared ownership homes are serving members of the British Armed Forces, or those that have been honourably discharged in the past two years. Otherwise, you can apply for a home anywhere in England and do not need to live, work or have any local connection to an area other than in some designated rural areas.
Eligibility and affordability checks
As an appointed agent for shared ownership, we need to make sure all applicants meet the eligibility criteria for the scheme and can sustain home ownership in the longer term. We will carry out an initial assessment to determine this.
Your landlord (usually a housing association) will carry out a full sustainability assessment to determine how much of a share of the home you can reasonably afford to buy. The calculator and guidance used to assess sustainability (opens in a new window) is set by the government.
The amount that you can afford to buy at the start will also need to be agreed by your lender if you are taking out a mortgage.
It’s important that you can keep up with repayments over the longer-term. Your home may be at risk if you do not keep up the repayments on your mortgage or other loans secured against it.
If you are in a position to purchase a share without the need for a mortgage then this is possible, provided that you cannot afford to buy a suitable home on the open market.
If you are self-employed then this is not a barrier, provided you are able to evidence your income as required by either a mortgage lender or your landlord.
You can also access shared ownership even if your income is reliant in part, or in whole, on benefits (including Universal Credit).
More information about Help to Buy: Shared Ownership
For more information about Help to Buy: Shared Ownership please read our frequently asked questions.