Shared Ownership criteria eased by government

Shared Ownership criteria eased by government

175,000 more people will potentially be eligible for Shared Ownership schemes across the country as the government announces that it is to relax the criteria for those who can apply from April.

Under new measures the scheme will be opened up to people of any occupation while income caps will also be raised, meaning families earning up to £90,000 in London and £80,000 elsewhere could be eligible.

A family in the North East could need a deposit of just £1,500 to buy a 25% share in a typical shared ownership property in the region.

The government has previously announced a £4 billion investment to build an additional 135,000 shared ownership homes.


Communities Secretary Greg Clark said: "We’re determined to ensure that hardworking people right across the country once again see home ownership as an achievable ambition to achieve. Shared ownership schemes have proved a real help to first-time buyers, but punitive restrictions have locked too many out of this opportunity to buy.

These changes will open the door for thousands of people across the country to own their own home."

Housing Minister Brandon Lewis said: "We believe that anybody who works hard and aspires to own their own home should have the opportunity to realise their dream.

Shared ownership is a great way for people to achieve that with just a fraction of the deposit they would normally need. Now thanks to our vision thousands more people will be able to benefit from this scheme."

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Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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