While Shared Ownership mostly aims to help first time buyers take their first steps onto the property ladder, the scheme is actually available to anyone as long as they meet the eligibility criteria.
When a property receives interest from multiple applicants, we are required to use an allocation policy.
The general allocation and prioritisation of properties available (New Builds or Resales) include the following:
- For general applicants, who have passed all initial assessments (Eligibility and Affordability), and have sent us a reservation form for a property, will be allocated via the First-Come, First-Served Policy. We will select the applicant who applied for Shared Ownership first – This is the first assessment we will ask you to fill out when you register your interest for a property. We can depict this information down to the date and time of the first time you applied with us.
- Military personnel are given priority to Shared Ownership properties, with priority extended to serving members and former British Armed Forces personnel discharged within the last two years.
- Some developments may require a preference for applicants who live or work locally, as stipulated by local authority planning permissions. This requirement is set by the local council, not the Housing Association.
Eligibility Criteria for Shared Ownership
- You have a gross household income of no more than £80,000 per annum.
- You are unable to purchase a suitable home to meet your housing needs on the open market.
- You do not already own a home or you will have sold your current home before you purchase or rent.