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Co-Ownership is a share ownership plan founded in 1978 which works as follows:


You buy a share of the house which you can afford, although it is 100% your home to live in and it allows you to get on the property ladder.


There is a cap of £190,000 on the value of the property which can be bought through co-ownership.


This comes with the benefit of a lower deposit or no deposit on the house you are buying as the deposit is taken as part of the value of the house.


The monthly repayments for co-ownership may sometimes work out cheaper than rent andmortgage payments than if you were to own the house outright.


You will pay for your share of the house you own through a mortgage payment then you would pay the other co-owner rent on their share of the property which can be increased over time until the point where you own the house outright.


Alternitavely, if you sell the house before the time you own it, the house will be valued and if you have made any improvements which result in the increased value this will go to you and the remaining value will be split between you and the co-owner, on the share each of you own.


Contact us today if you would like to find out more.



The Mortgage Company (NI) is a trading name of Tony McCormick who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Limited. First Complete Limited is authorised and regulated by the Financial Conduct

The guidance contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK Authority.

We offer free mortgage advice although on submission of an application this firm usually charges a fee. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.

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