Information for Buyers

What is shared ownership

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or second hand from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and the Homes and Communities Agency outside of London. Shared Ownership Properties


The GLA and HCA set the eligibility criteria for Shared Ownership, but broadly speaking you must:

  1. Not own another property in the UK or any other country.
  2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
  3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
  1. Be in full time permanent employment and have passed any probation or be able to provide three years audited accounts if self-employed.
  2. British, EU or EEA Citizenship or have indefinite leave to remain in the UK. Shared Ownership Properties
  3. Have a good credit history
  4. Have sufficient funds for legal fees, mortgage arrangement fees and stamp duty.


How do I apply for a Shared Ownership property? The first step is to complete our application form for the property you are interested in.

Can I view the property before submitting an application? Unfortunately, not; we must check that you are eligible before inviting you to a viewing. This saves time for all parties involved.

What happens after I’ve applied? You will receive an email from us letting you know if you are eligible for the property or not. If you are eligible we will be back in touch to confirm the date for the viewing.

What happens after I have viewed? One of our consultants will explain the process during the viewing, however in short you will need to complete an Expression of Interest that we send to you.

Do I pay Stamp Duty on a Shared Ownership property? If the share is £125,000 or less then you do not need to pay Stamp Duty Land Tax (SDLT). If the share is higher you will need to pay stamp duty.


  1. Affordable homes are purchased on a leasehold basis. The lease is normally between 99 and 125 years.
  2. Home Buyers will own an initial equity share in the property, typically between 25% and 75%, depending on the result of a financial assessment and the share being offered by the vendor. Financial eligibility is assessed by an independent financial advisor.  For new-build homes, purchasers are required to buy the maximum share affordable.
  3. Shared Ownership ‘resale’ is where the current owner wishes to sell their share of the property – this is the minimum share you can purchase. The maximum you can purchase initially is 75%, subject to affordability.
  4. Additional shares in the property can be purchased at any time (usually after a period of owning the property for 3-6 months); this process is known as staircasing. The price is always taken from the market value at that time, which is determined by an independent RICS Surveyor.
  5. Properties can be sold at any time. The housing association will have an initial nomination (exclusivity) period, most commonly two months, in which to find another person to purchase the property under the shared ownership scheme. In the event that they are unable to find a buyer within that time, the property can be sold on the open market, again the value is determined by an independent RICS Surveyor and may not be sold below this price. Shared Ownership Properties

More Information

For more information about successfully buying a shared ownership property, email: or speak to us on 0333 016 6560  Shared Ownership Properties