First time Buyer's with L&Q

Am I eligible for Shared Ownership?

Shared Ownership isn’t just for key workers. And it’s not just for families. 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 income must be less than £90,000 within London and £80,000 outside of London. You’re no longer required to live or work in the area where you intend to buy, however there may be some exceptions to these rules where historic agreements have been made with local authorities about certain developments.

Shared Ownership eligibility check

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:

  • have a combined annual household income under £80,000, or £90,000 in London
  • not own a property, or part of a property, at the time of completing on your purchase
  • have a good credit history
  • have a minimum of £5,000 to cover the costs of buying a home
  • be over 18 years of age and be able to obtain a mortgage

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.

If you do not qualify for shared ownership, you may want to consider London Living Rent (LLR) – another route to home ownership. To find out more, visit our LLR homes page.


Each property may also have additional eligibility requirements

Some developments may initially be reserved for applicants who currently live or work in that borough. Household income requirements may also differ in line with factors such as current house prices, the share for sale, and local authority policy.

If you’re buying a home outside of London, you’ll also need to apply with your local Help to Buy agent.

You can find out who is eligible to live in each development by checking the eligibility section on the property listing you are interested in. We’ll post the eligibility criteria for our properties as soon as we can, but sometimes this is unavailable until closer to the launch.


Is it affordable for you?

When you apply for L&Q Shared Ownership, we ask for detailed information about your income and financial commitments. This helps us determine whether you would be able to afford the costs of buying and maintaining a new home.

In general, you will need approximately £5,000 to cover the costs of purchasing a home. These costs cover things like; the reservation fee, mortgage valuation fee, mortgage arrangement fees, solicitors’ fees, removal costs and utility connection charges.


Are some applicants prioritised?

Yes, priority is given to members of the military. However, shared ownership is open to anyone who meets the eligibility criteria.

All applicants are prioritised by a scoring system, where points are awarded for different criteria. These evaluations look at a variety of factors to assess your suitability, including whether you are:

  • already living or working in the same borough as the property
  • a first time buyer
  • an existing Local Authority or Housing Association tenant
  • going to be living in the property with children
  • MOD personnel

Apply now and confirm your eligibility