L&Q Shared Ownership
Learn more about how the Shared Ownership scheme works
For queries regarding your Shared Ownership Application, contact the Applications team on applications@lqgroup.org.uk or call 0300 456 9997 option 1.
All about Shared Ownership
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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. Over time, you can increase the share you own until you eventually own 100%.
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To be eligible to purchase a shared ownership home you must have a combined annual household income under £80,000 when buying outside of London, or £90,000 in London. You must not own a property, or part of a property, at the time of completing on your purchase, have a good credit history and have a minimum of £5,000 to cover the costs of buying a home.
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Whilst you are in the process of applying for shared ownership eligibility you can still register your interest in developments you are interested in. Once you find the right home you can reserve and move onto the financial interview stage. Then you can appoint a solicitor and look forward to completion day and receiving the keys to your new home.
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Wondering if Shared Ownership is right for you?
Which? Provide a good overview of the pros and cons for you to consider in your search for your new home.
You can also speak to our Homebuy and Applications Team for more information on your individual needs. You can contact the team via email on applications@lqgroup.org.uk
It is important from the beginning that you know exactly what your new home will cost you, both the starting-out costs and your monthly costs.
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Here we answers some common questions relating to Shared Ownership including service charges, lease extensions and more.
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Find a home that's right for you with L&Q Shared Ownership
After you buy your Shared Ownership home
What makes us different from other developers is that once you have purchased a home from us, we will continue to manage the home and neighbourhood where you live. We’re with you every step of the way. From maintenance and repairs to making improvements, here’s what you need to know once you’ve moved in.
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Buying more shares in your home is called 'staircasing'. You can staircase at any time, but you must increase your share by a minimum of 10% each time you staircase. If you are considering staircasing, speak to an independent financial advisor. They can help you decide how much you can afford.
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You can sell your share in the property regardless of the size of the share you own. When you come to sell up, the value of the home could have gone up or down since you first bought it. If you decide to sell your L&Q home, the resales team will help you find a buyer. L&Q are given the first opportunity to re-sell your property to another Shared Ownership buyer.
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Apply now and confirm your eligibility for Shared Ownership with L&Q
