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.
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 an annual household income of less than £90,000
- 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 seek to ensure that priority is given to those living or working in this borough during the initial marketing of new build shared ownership homes.
How to register
If you would like to register your interest in any of the above developments, you should register on the GLA Homes For Londoners website 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.
Find out more about Shared Ownership by hearing from Jo in Hampton Wick.
Telephone: 020 8891 7409
Up to: Look for a home
Updated: 11 September 2020