As an affordable route onto the housing ladder, housing associations work hard to ensure Shared Ownership properties are offered to those buyers who need them most, and L&Q offer a straightforward process to potential purchasers who are looking to check their eligibility.
To be eligible to purchase a Shared Ownership property through L&Q, you must:
- have a combined 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, including reservation fee, solicitors’ fees and removal costs
Each property may also have additional eligibility or priority requirements. For example, they may only be open to applicants living and working in the borough, or household income requirements may differ slightly to reflect current house prices, the share for sale, and local authority policy – such information will be included on the property listing.
Olivia Moss, L&Q’s Marketing and Brand Director, comments: “Our eligibility application takes just 20 minutes to complete, ensuring a simple process for prospective buyers. Once your eligibility is confirmed, you can book viewings for properties and start the journey of finding your dream home.”
To find out if you could be eligible for an L&Q Shared Ownership home, complete the online application here.