Am I eligible?

Each application for an Ongo Homes shared ownership property will be assessed individually, but here are details of the criteria you have to meet to be considered for the scheme:

  • Gross household income of less than £80,000
  • Aged 18 or over 
  • In current employment 
  • Have a good credit history 
  • Having savings or access to approximately £1,500 to cover the cost of buying a home (this does not include the value of the deposit required for a mortgage)
  • Understand that any property you currently own in the UK or abroad will need to be sold

In order to be considered for the scheme, you cannot be in a position to afford to buy a property at 100% value on the open market. Applicants will also be assessed based on their level of housing need as well as an affordability assessment.

Affordability criteria

Ongo Homes will verify that:

  • You cannot afford to buy a home outright on the open market that would meet your housing need
  • Have sufficient savings, or access to funds to meet the purchase costs associated with buying a home
  • You have a good credit history 
  • You are able to afford the total monthly outgoings associated with the purchase of a home suitable for your reasonable needs.

Applicants will need to provide:

  • Evidence of salary by providing 3 most recent wage slips and/or bank statements
  • Proof of savings that meet the costs associated with the purchase
  • Proof of current residency 
  • Proof of identity

Your application will be rejected if you:

  • Fail to meet the affordability criteria 
  • Are an undischarged bankrupt or have unsatisfied County Court Judgements 
  • Are reliant upon guarantors to support a mortgage
  • Can comfortably afford to buy the property at 100% open market value

More info

If you'd like us to do a quick check on your eligibility, please leave us your details below and we'll be in touch as soon as we can to go through some details with you.

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Page last updated: 05 September 2016


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