Shared ownership properties

[XeNoN89]

I'm looking at potentially getting a shared ownership property because rent is crazy these days and I don't have the ability to go all out on a full buy. I've been trying to find out how strict the household income limit is? We're looking in London so the official limit is 90k, and we would likely be over that by a few grand. Does that mean we will get instantly rejected or is there some wiggle room?

 

[Surveyor]

Why wouldn't it be strictly applied? If they were open to applicants who were over by a few grand they'd have make the limit higher.

Shared ownership homes: buying, improving and selling

Find out about buying a home through shared ownership. Read about who can apply, costs, paying rent, buying more shares and repairing and selling your home.

www.gov.uk

Who can apply​

You can buy a home through shared ownership if both of the following are true:

• your household income is £80,000 a year or less (£90,000 a year or less in London)
• you cannot afford all of the deposit and mortgage payments for a home that meets your needs

One of the following must also be true:

• you’re a first-time buyer
• you used to own a home but cannot afford to buy one now
• you’re forming a new household - for example, after a relationship breakdown
• you’re an existing shared owner, and you want to move
• you own a home and want to move but cannot afford a new home that meets your needs

For some homes you may have to show that you live in, work in, or have a connection to the area where you want to buy the home.