How to apply

Before applying for a shared ownership home with SO Living, make sure that you are application ready

Follow our steps which outline the application process and what you’ll need to do at each stage.

You’ll also find more details about the affordability assessment including timescales you’ll need to adhere to.

Check your eligibility on GOV.UK's shared ownership scheme page by using the link below.

You may be eligible if:

Your household income is less than £80,000
You are a first-time buyer, you used to own a home but cant afford to buy one now or you are an existing shared owner looking to move

You can purchase your share of the property with either cash or a mortgage. If you are thinking of purchasing your share through a mortgage, you will typically need a deposit of between 5% and 20% of the share you are purchasing and will need to raise a mortgage for the remainder of the share you will purchase. We recommend you speak to a mortgage advisor who deals with shared ownership mortgages before applying for a property to see if you can get a mortgage.

In addition to your mortgage deposit or the cash to pay for the share price in full, you will need at least an additional £2,500. This is to cover the purchasing costs, although please be aware your fees may be more than this depending on your choice of mortgage product and solicitors.

View our selected panel of mortgage advisors

To be informed of when we release our homes, you will need to register your interest in our developments. This can be done via the scheme pages on our website.

Once a property is released, you will need to apply for it on our website.

We accept applications for the properties on a first-come first-serve basis, with priority given to armed forces applicants. We will advise where you are on the list for this property. If you come first in line, there would be several stages you would need to complete before you could reserve the home.

If you are applying for more than one property, the first one that you apply for will be your preferred choice
If the property has a s106 local connection restriction or an under-occupancy restriction, we will need to see evidence of how you meet them. More details about the restrictions, and evidence we can accept, will be found within the scheme brochure. We would require you to provide this evidence within 24 hours of you being notified by the Sales Team
You will also need to complete the short registration form.

Preliminary checks

If you have been notified that you are first in line, we will need you to complete an affordability assessment. Our nominated mortgage advisors, The Mortgage People (TMP), undertake this on our behalf. We require that you register with them within 24 hours of you being notified by the Sales Team.

Although it is a requirement for you to complete this process with TMP, you are not obliged to take out a mortgage with them, and can use your own mortgage advisor to source your mortgage product.

Once registered, TMP will usually contact you by the next working day to carry out preliminary checks. Their telephone number should start with 01604 or 01904, so please watch your phone so you don’t miss their call.

If you do miss their call, they will leave you a voicemail and send you an email. You can call them back and have the appointment over the phone, or by using the link in the email from TMP, you can schedule another call back. This call must be completed within 2 working days of TMP’s initial call to you. If you attempt to schedule a call and there are no suitable appointments within the timescale, please contact TMP as soon as possible to discuss.

Documents required by TMP

After the phone call, TMP will request documents from you. Below is a list of documents that they may ask you to provide, subject to your situation:

In date passport or photocard driving licence
If you are in the UK on a Visa, they may need a copy of that too
Last 6 months payslips
If you’re self-employed, your last 3 years SA302/Tax Calculations plus 3 years Tax Year Overviews
Most recent 6 months bank statements from all accounts held
Latest Council Tax Bill or a Utility Bill
Proof of deposit/gift documentation
Credit Card Statements
Proof of benefits
Evidence of Maintenance payments
Copy of your mortgage agreement in principle & key facts information (KFI)

TMP will provide further guidance to you about these documents.

As part of the documents you need to provide to TMP, you will need to evidence that you have access to at least £2,500 in addition to your mortgage deposit/cash purchase price.

Timescales for the affordability assesment

You will be expected to provide the documents within 5 working days of TMP conducting the preliminary checks. The above timescales must be adhered to, including registering with TMP, completing the preliminary checks, and providing all your documents. If you do not complete all the actions within the specified time, we may move on to the next applicant.

Once we receive your completed affordability assessment from TMP, we will review the outcome. If the assessment confirms that you meet the eligibility criteria for the shared ownership scheme, you meet our policies, and the property is affordable and sustainable, the Sales Officer will make a recommendation to management for the application to be approved. Subject to approval from management, we will offer you the property.

The Sales Officer will be in contact with you to discuss the viewing arrangements during this time.

If the affordability assessment is successful, you will be provided with a shared ownership offer and invited to pay a £500 reservation fee to officially reserve the property. The offer is valid for 12 weeks, and you will be required to complete on your purchase within this time.

If your offer is for a resale property, we will not provide you with a timescale to complete as this will need to be agreed between you and the sellers through your solicitors

How to apply

Before applying for a shared ownership home with SO Living, make sure that you are application ready

Check your eligibility

Can you afford to buy your share of the property?

Register your interest in our developments

Apply for an available home through our website

Affordability assessment

Shared ownership offer

SO Living Fees guide

Guide To Shared Ownership

Find out more

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