Following the recent budget announcement we have received a high volume of Right to Buy applications which we are currently processing. We will contact all applicants, in order of receipt, as quickly as possible.
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Shared ownership
Find out about the scheme and how to purchase a share of a property.
Shared ownership is a scheme that allows you to purchase a share of a property. The size of the share will depend on your income and savings and is generally between 25% and 75%.
You can buy more shares as you can afford them, eventually owning your home outright. This process is called ‘staircasing’.
Most shared ownership housing is developed by registered providers, which are regulated by the Homes and Communities Agency (HCA). Registered providers are non-profit organisations responsible for providing social housing like:
- housing associations
- registered social landlords
- local authorities
Priority for shared ownership schemes will normally be given to:
- existing public sector tenants
- those on housing registers with their local authority or registered providers who are in housing need
- key workers
- first time buyers
Generally, you must meet the following criteria to be eligible:
- your annual household income is less than £90,000 a year
- you are a first-time buyer
- your circumstances have changed meaning you need to move (in which case you must sell your existing property)
If you're looking to buy a home in London, the Share to Buy website provides access to available properties and resources.