Who is eligible?

Priority will be given to:

• Existing customers of Aspire Housing.
• People on the Aspire and Local Authority joint waiting list.
• First time buyers.
• Key workers.
• Other people who can demonstrate that they are unable to buy a property on the open market.

You must:

• Demonstrate that you cannot buy a suitable home without help from the shared ownership scheme.
• Have sufficient income to be able to afford the combined mortgage / rent for the scheme.
• Be a member of the EU or have their passports stamped “Indefinite leave to remain in UK”.
• Not be in rent arrears or breach of tenancy agreement.
• Be a first time buyer (or first time in own right after marriage break-up, vary to account of medical needs, increased family size etc).
• Have satisfied any CCJ’s or be clear of bankruptcy / creditor agreements.

There are also limits on the amount of income that an individual/family may have in order to be eligible for the scheme.

The upper limit for family income is £60,000, £12-30k for individuals and £18-50k for couples.

This may vary according to number of dependents and amount of savings. Further criteria are applicable based on housing need.

It is important to note that Shared Ownership properties can‘t be used for buy-to-let.

Once purchased the property must become your residential home.

You will need to have some money/savings available to at least cover the cost of:

• Professional fees associated with the purchase.
• A small deposit to secure your property.
• Stamp duty where applicable.
• Mortgage arrangement fee where applicable.