14 January 2016
Changes to Shared Ownership eligibility to help more people access the scheme
New eligibility criteria for Shared Ownership has been introduced, which will open the scheme up to a wider number of people.
The changes come into effect today and are summarised as follows:
- The maximum household income is now £80,000
- The current restriction which prevents existing shared owners from re-applying has been removed
- The restriction on the number of bedrooms allowed (based on household needs) has been removed
- Priority status now only applies to serving members of the British Armed Forces or those honourably discharged in the last 2 years
Sandy Kelly, Head of Help to Buy North West, says, "These changes are welcomed and we think they will open up Shared Ownership to a much wider range of purchasers in the North West. Shared Ownership is a popular way to get on to the property ladder and there are many fantastic developments across the North West on our website."
To find more about Shared Ownership and search for available properties in the North West visit the Property Search page.