Shared ownership housing benefit may apply to different elements of your shared ownership.

You may not be able to claim any housing benefit if any of the below apply though:

You:

  • are a full-time student but there are exceptions
  • don’t meet immigration and residence conditions
  • live with a close family member who you pay rent to
  • are supported by social services as a care leaver while you’re under 18
  • have savings above £16,000 – unless you get pension credit guarantee

The elements of which shared ownership housing benefits or benefits apply to include:

  • Mortgage interest
  • Rent
  • Charges

In the case of your mortgage, you may be able to claim support for mortgage interest as a benefit on your mortgage. You can also claim help for your mortgage through Pension Credit, Income Support, income-based Jobseeker’s Allowance, income-related Employment and Support Allowance or Universal Credit.

You can then use housing Benefit or Universal Credit to pay for the rental element in the same way as for fully rented tenancies, and you may also be able to claim for eligible service charges.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.