Am I eligible?
To be eligible for shared ownership, you must:
- Earn less than £80,000 annual household income
- Have a deposit and funds ready for your mortgage and moving costs
- Be unable to afford to purchase a similar property that suits your needs on the open market
- Be an existing shared owner looking to move
- Not currently own or have interest in another property
- Be registered with Help to Buy South and qualify for shared ownership
Getting ready to buy through shared ownership
Step 1: Register to buy with Help to Buy South
Go to Help to Buy South to register. If you have already done this, please email your Help to Buy reference number to the Brighter Places sales team at email@example.com so we can log your interest. You can call us on 0117 942 4600.
Step 2: Check your local area connection
Most shared ownership property listings will say that a local connection to the area is needed. This is because the homes for sale in these areas have been built specifically to help meet the needs of local people who can’t afford to get on the housing ladder any other way.
The local area connection criteria varies between sites, but generally it’s based on:
- Being a resident of (or employed within) the area for a number of years (usually between 2 and 5)
- Family connections (for example, parent, grandparent, child, grandchild or adult sibling) who have lived in the area for at least three years.
To find the local area connection, go to the web page for the site you’re interested in and click on the link.
Step 3: What’s affordable for you?
As part of the application process you are required to carry out an affordability assessment and provide documents to support the application.
To give you an example of the market costs to buy through shared ownership, check out Help to Buy’s affordability calculator.
Step 4: Get in touch with us
We will talk you through the next steps to have an affordability assessment and all the documents you will need for your application. Email us firstname.lastname@example.org or give us a call on 0117 942 4600.
Once approved, and once you know how much you can afford, you will be ready to search and put in an offer on a shared ownership home.
Step 5: Once you’ve found your shared ownership home
If your offer is successful, a member of our sales team will get in touch with you to confirm your choice of solicitor and mortgage broker. We will then issue your notification of sale to all parties in order to formally instruct your sale.