Discount Full Ownership: Eligibility and prioritisation

What is the Discount Full Ownership eligibility criteria?

Discount Full Ownership is a homeownership scheme that allows eligible buyers living or working in London to purchase a property at a reduced price, offering a discounted rate compared to the full market value. The scheme is designed to make homeownership more accessible for aspiring buyers who may otherwise struggle to afford a property.

You can find out more about the Discount Full Ownership scheme and how it works here.

Am I eligible for Discount Full Ownership?

To be eligible for the Discount Full Ownership scheme, you’ll need to meet the following criteria:

• Income cap: You must be a middle-earner, meaning your household income must not exceed £90,000. However, please be aware that particular local authorities may sometimes set a lower income cap for a set period of time.
• Homeownership status: You must be a first time buyer or unable to currently afford a property at full market value in your local area.
• Local residency requirement: You must live or work in the borough or area where the property is located.
• Principal residence requirement: The home must be your main and only residence – subletting or using the property as an investment is not permitted.

We would also recommend checking with the housing provider for specific eligibility requirements, as these may vary depending on the development.

What are the allocation and prioritisation rules for Discount Full Ownership?

Unlike some of the other government buying and renting schemes, there are typically no set rules that determine the prioritisation of Discount Full Ownership homes other than the requirement for applicants to live and/or work in the borough where the property is located. However, it is worth checking with Pocket Living, the housing developer who offers this scheme, if you are interested in a particular home or development.

How can I find a Discount Full Ownership property?

Looking to take your first step on the property ladder with a Discount Full Ownership home? Visit our property portal to browse available homes in London. You’ll also find detailed information about the scheme, including guidance on what the scheme is and affordability on Share to Buy.