Have you previously applied for the Shared Ownership scheme but did not fit the criteria? Things have changed...
You may be interested to know that the Homes & Communities Agency (HCA) have recently announced some changes to the application criteria, and Shared Ownership may now be an option for you.
The following changes came into effect on 4 January 2016.
- The threshold on maximum household income per application, has been raised from £60,000 to £80,000 (outside of London).
- The only priority groups for assistance will now be serving members of the British Armed Forces and those honourably discharged in the last two years (or those who are the surviving partners of regular service personnel who have died in service and have applied within two years of the bereavement). Visit this page for further details.
- There are no longer any restrictions which prevent existing shared owners from applying for and moving into another Shared Ownership property.
- Applicants for Shared Ownership are now free to purchase a home with no restrictions on the number of bedrooms allowed.
These new changes also apply to Rent to Buy and Intermediate Rent properties.
Please see the HCA website for further information on the changes.