Are you eligible for a Shared Ownership home?

Whether or not you qualify for a Shared Ownership home – often called your ‘eligibility’ – is dependent on three separate factors.

Completing an application with Cerris Homes is the only way to confirm that you are eligible to buy one of our Shared Ownership homes. However, the following provides details of the minimum eligibility requirements.

You are eligible to buy a home through Shared Ownership if the following apply:

  • Your household income is £80,000 a year or less.
  • You cannot afford all of the deposit and mortgage payments for a home that meets your needs.
  • You do not own a property, or part of a property, at time of completing your purchase.
  • You have good credit history – see affordability below.
  • You have funds for a deposit and costs of buying a home.
  • You are over the age of 18.

What are the three eligibility factors?

General eligibility
Eligibility for Shared Ownership is set by the government, and you’ll need to meet these general criteria to be accepted onto any Shared Ownership scheme. To check if you’re eligible, simply complete our Shared Ownership online form.
We follow Homes England’s guidelines on eligibility, first come, first served, and surplus income. This means everyone gets a fair chance, and we’re here to guide you through each step of the process.
If you have any questions about eligibility or need help with the form, our team is always here to support you.
Property eligibility
Sometimes, Local Council's set their own rules for allocating homes. This often means giving priority to people who already live or work in the area. These local criteria can affect whether we’re able to offer you a home.
If you’re unsure about your eligibility or have questions about local connection requirements, our team is here to help guide you every step of the way.
Affordability
Affordability looks a little different for everyone. It depends on your income, your financial commitments, and the value of the home you want to buy. As a guide, your combined housing costs - covering your mortgage, rent, and service charge - should usually be no more than 40% of your net take-home pay. If you’re able to afford a larger share of the property than the minimum offered, you’ll be expected to buy the larger share.
To be approved for a Shared Ownership home with Cerris Homes, you’ll need to have a financial assessment with one of our qualified mortgage or financial advisors. This helps make sure your purchase is both affordable and sustainable for you. We’re only able to approve your application if this assessment is completed with our nominated advisors.
To meet our affordability criteria, you’ll need to confirm that:
  • You haven’t been declared bankrupt in the last 6 years
  • You don’t have any unsatisfied County Court Judgements (CCJs) against your name
  • You’re not in arrears with any tenancy or mortgage payments
  • You don’t have any active Individual Voluntary Agreements (IVAs) in place
  • You haven’t had a home repossessed in the last 5 years
If you have any questions about affordability or the assessment process, we’re here to guide you every step of the way and help you feel confident about your next move.