Low cost home ownership

There are a limited number of schemes available for people who cannot afford to buy a property on the open market.

View upcoming schemes

How it works

You buy a share of a property and pay rent on the remainder, gradually buying further shares so that eventually you could own the property outright.

Who is eligible

To register for a low cost home ownership scheme you must:

  • Have a gross household income of no more than £90,000 per annum
  • Be unable to purchase a suitable home to meet your housing needs on the open market
  • Not already own a home or you will have sold your current home before you purchase or rent
  • Be able to demonstrate your mortgage capability and have the savings to cover all costs

These income levels are set by the Greater London Authority (GLA) and are reviewed every year.

Priority for these schemes is given to existing social housing tenants and serving MOD personnel, which meet the GLA criteria. Our Intermediate Housing Policy Statement(pdf, 89KB) explains how we prioritise applications.

How to register

If you would like to register your interest in any of the above developments you must first join our Richmond Housing Register.

You should also register with the SHARE TO BUY, which lists shared ownership properties available in London and surrounding areas. You may be eligible to purchase a shared ownership home in a neighbouring borough if you work there (such as Hounslow, Spelthorne or Elmbridge) where property prices are likely to be more affordable.

Contact

Email: housingadvice@richmond.gov.uk
Telephone: 020 8891 7409

Updated: 22 June 2017