We’re passionate about helping you find the right home in the right neighbourhood, balanced with financing you can afford. That’s why our team is always on hand to help you weigh up your options and unlock the choice that’s right for your London lifestyle.
Finding the right balance
As well as being eligible for Shared Ownership, you need to be able to get a mortgage and afford the day-to-day costs of owning your home. To help you work out what you can afford both now and in the future, we’ll put you in touch with a specialist mortgage advisor.
Working Out Your Shared Ownership fees
We’ll look at your take-home pay (after tax) and other financial commitments (such as credit card debt) to work out what you can afford.
Overall, the total cost of your mortgage, rent and service charges must be no more than 45-50% of your household income after tax. Even if you’ve been pre-approved for a mortgage, we won’t be able to sell you a home if your costs exceed this.
What you’ll need to apply for Shared Ownership
Whether you’re employed or self-employed, we’ll need evidence of your income including:
- Three months of pay slips
- Bank statements from the bank accounts your income is paid into
- If you’re self-employed we’ll need your SA302 forms and accounts from the last three years