First time Buyer's with L&Q
L&Q Shared Ownership makes it possible to own your home – even if you feel priced out of the property market.
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.
Apply to check your eligibility
Apply now to confirm that you’re eligible to purchase one of our shared ownership homes. Your eligibility will be confirmed 3 to 5 working days after you’ve completed your application.
How much will shared ownership cost?
There are two types of cost you’ll need to consider:
Starting-out costs – including your property reservation fee, deposit, mortgage fees, and stamp duty
Ongoing costs – including your mortgage, rent (on the percentage share that L&Q own), and a service charge
If for example you decide to buy 35% of a £400,000 L&Q home:
You’ll need a deposit of at least 5% – £7,000.
Your monthly payments would include:
Mortgage – £777.50 (if you have 5%)
Rent – £595.83 (if you have 5%)
Service charge – £150 (may vary)
Learn more about Shared Ownership costs
(1) Assumes you have a 5% deposit. The figure quoted is a percentage share and is a guideline and may vary according to individual incomes and circumstances. Rent example is based on 2.75%. Mortgage rate based on example 5%.