Under the Shared Ownership scheme you part-own and part-rent your home, making it possible for first-time buyers and families to get on the property ladder.
The minimum share you can purchase is 25% and the maximum is 75%. You will usually pay a mortgage on the part you own and a subsidised rent on the part you don’t own. As your income rises, you can increase the share you own until you eventually own 100%.
Shared Ownership is for anyone who doesn’t currently own a home. If you want to get on the property ladder, but can’t afford to buy outright on the open market, then Shared Ownership could be for you.
It doesn’t matter what your job is, but your household income must be less than £80,000.
Although you can register your interest before you’ve applied for Shared Ownership, you won’t be able to reserve a home until you’ve been approved as eligible by completing both of the forms above.
Applying with L&Q is the only way to confirm that you’re eligible to purchase one of our Shared Ownership homes. However this short list will give you an indication of the minimum eligibility requirements.
Our application form takes about 20 minutes to complete. It includes questions about your household income and savings, financial commitments, and your current living arrangements.
Once your eligibility has been confirmed you will be assigned an LQSO number, which you will need to book a viewing or reserve a property.
