Affordable home ownership schemes

In our district, there are two primary forms of affordable home ownership which the council seeks on major developments. These are Shared Ownership and First Homes.

Shared Ownership

What is Shared Ownership?

Shared Ownership is a government-backed scheme designed to help people get onto the property ladder when buying a home outright may not be affordable.

Instead of purchasing a property outright, you buy a share of the home (usually between 10% and 75%) and pay rent on the remaining share. This can make buying a home more affordable, as both the deposit and mortgage are based on the share you purchase rather than the full property value.

Who can apply?

Shared Ownership is available to people who are unable to afford or buy a suitable home on the open market. To be eligible, your household income must be £80,000 per year or less, and you must be unable to afford the deposit and mortgage payments for a home that meets your needs.

You must also meet at least one of the following criteria:

• you are a first-time buyer
• you previously owned a home but can no longer afford to buy one
• you are forming a new household following a change in circumstances
• you are an existing Shared Ownership homeowner looking to move

Some Shared Ownership homes may also require applicants to demonstrate a local connection to the area, such as living, working, or having close family ties within the district.

Local connection criteria

For the first three months that a property is marketed, priority is given to applicants with a local connection to the district. This local connection criteria is defined within our Joint Housing Allocations Policy.

If no eligible buyer is found during this initial marketing period, the council may agree to waive the local connection requirement.

Where multiple eligible applicants apply for the same property, priority will be determined in line with the criteria set out in the Joint Housing Allocations Policy.

Staircasing

Over time, you may have the opportunity to buy additional shares in your home through a process known as staircasing. This allows you to gradually increase the percentage you own and, in some cases, eventually own the property outright. As your ownership share increases, the rent you pay on the remaining share will usually reduce.

To find out more about staircasing, please click here.

Finding a Shared Ownership home

Prospective buyers can purchase Shared Ownership homes directly through Housing Associations operating within the district.

To find out which Housing Associations offer Shared Ownership homes in South Oxfordshire, please click here.

First Homes

What is the First Homes scheme?

The First Homes scheme is a government-backed initiative designed to help first-time buyers in England purchase a discounted new-build home.

Properties sold through the scheme are offered at a discount of at least 30% compared to their full market value, helping make home ownership more achievable for eligible buyers.

How does the discount work?

The discount applied to a First Home remains with the property permanently. This means that whenever the home is sold in the future, the same percentage discount must be passed on to the next eligible buyer.

To ensure this happens, a legal restriction is registered against the property title with HM Land Registry when the home is first sold.

Property price caps

For the first sale, the property must be sold for no more than £250,000 after the discount has been applied.

While this price cap does not apply to future sales, the minimum 30% discount will continue to apply each time the property is resold.

Occupancy requirements

First Homes properties are intended to be the buyer’s sole or main residence and cannot be used as a second home or buy-to-let investment property.

Frequently Asked Questions (FAQ)

Still got questions on First Homes? You’re not alone. This section covers the most common queries we receive to help you find quick, clear answers and get the information you need.

Select each question for full details.

Am I eligible for the scheme, and what is the criteria?

You must be first time buyers, be able to get a mortgage for at least 50% of the price of the home and your joint income must not be more than £80,000 a tax year.

Each scheme has specific eligibility criteria. In addition to the national criteria, the council typically applies a local connection criteria to any First Homes purchase. A local connection is typically sought in line with our Joint Housing Allocations Policy, as seen below:

• current and permanent residence of choice, for at least six months
• previous residence of choice for either six months out of the last twelve or three out of the last five years
• applicants with a family member currently resident in the district and have family members who have been continuously resident for at least the last five consecutive years. Family members are defined as parent, adult children and siblings
• current, permanent employment within the district that is at least 16 hours per week

The criteria is set to ensure that homes are prioritised for people with a strong connection to the District or Parish (if specified).

The developer of a First Home will be able to inform you whether this criteria is applicable to your property of interest.

What steps do I need to take to apply for the scheme?

First Home units are marketed directly by the developer, and the application process is primarily managed through them. The developer will guide you through each step, provide details of the required documentation, and explain any specific eligibility criteria that apply to the scheme.

Visit our dedicated page to understand the full process of purchasing a First Home in our district, from applying to moving in.

What supporting documents or evidence will I need to provide?

The developer will be able to advise you on the types of documentation required during the application process.

Typically, you’ll need to provide evidence that you meet the eligibility criteria. This may include documents such as bank statements, payslips, employment contracts, and proof of residency.

Are there any current or upcoming developments offering First Homes?

First Homes properties are usually advertised directly by developers on their own websites. It is worth checking individual developer websites regularly and using location filters to search for homes in your preferred area.

When a developer is ready to market the First Home units, they will typically notify us so we can prepare and issue the application packs.

If you’d like to be kept informed about new developments offering First Homes units or have a specific area of interest, we can keep you informed about any relevant developments. Please email the council’s Affordable Housing Team.

You can also contact developers directly to find out when First Homes properties are expected to become available.

If you would like more information about Shared Ownership or First Homes units, or you are interested in finding out where these homes are being developed or planned within the district, please contact the Affordable Housing Team.