Co-Ownership. A share of a home. A place of your own.
Buying a home in Northern Ireland? Eleanora helps you understand Co-Ownership and the mortgage for your share.
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Your home. Two parts to understand.
With Co-Own, you buy a share of the property and pay rent on the share owned by Co-Ownership. Your mortgage, rent and other home costs all need to fit your budget.
The share you buy
You usually take a mortgage for your share. The starting share is based on what you can afford.
The share you rent
You pay rent to Co-Ownership on its share. You can apply to buy more of your home later.
Scheme eligibility and lender criteria apply. Co-Ownership runs the scheme; Dunn & Co advises on your mortgage.
Read the official Co-Ownership guidanceLet’s work out your next step.
Start with your budget
Talk through your income, outgoings and any savings.
Understand your options
We explain the mortgage and how it fits with Co-Ownership.
Keep things moving
Help with the paperwork, lender queries and updates.
Taking the time to explain.
“Preparing to buy our first house was a daunting task but Eleanora and Neil made it all super easy, taking the time to explain everything that we didn’t understand and kept us informed at every step along the way.”
Questions before you get started.
Do I need a deposit?
Some applicants may not need a mortgage deposit, depending on the lender and their circumstances. You still need to budget for fees and the other costs of buying a home.
How much of the home would I buy?
Through Co-Own, the starting share is between 50% and 90% of the property’s value. The share you can buy depends on Co-Ownership’s affordability assessment and the mortgage available to you.
Can I buy more of my home later?
Yes. You can apply to increase your share, potentially up to full ownership. Co-Ownership’s process, valuation requirements and any mortgage arrangements will need to be considered.
Do all lenders offer Co-Ownership mortgages?
No. Not all lenders accept Co-Ownership purchases. Eleanora can explain the relevant mortgage options and lender criteria for your circumstances.
Can we talk before I find a property?
Yes. An early conversation can help you understand your budget, what information you may need and the steps involved before you begin looking for a home.
Let’s talk about your first step.
Speak to Eleanora by phone, video call or at our Rathfriland office.