An Overview on Buying with Co-Ownership

20 March 2024


Co-Ownership, is an organisation that helps people become homeowners, especially when they might not be able to afford full ownership on their own.

Co-Ownership presently offer three forms of assistance to perspective buyers:


You choose a home and own as much of it as you can afford, with Co-Ownership buying the remainder. You pay the mortgage on your share and rent on the Co-Ownership portion. Over time, you can increase your share bit-by-bit until you eventually own the entire property, in a process known as ‘staircasing’. Both new and existing properties up to the value of £190,000 are eligible, but Co-Ownership will not accept one-bedroom properties. One of the key advantages of this scheme and that it is possible to buy through ‘Co-Own’ without providing a deposit.

Rent to Own:

If you are not financially ready for full home ownership yet, ‘Rent to Own’ could be an option for you. You can choose a new build house anywhere in Northern Ireland (up to £190,000 in value). Co-Ownership buys the property and rents it to you for up to three years. You then have the opportunity to buy it from Co-Ownership for its current market value. Co-Ownership give you a 20% refund of the rent that you have paid which can be used as a deposit for your mortgage on the property - essentially allowing you to save for your deposit as part of your rent. This form is assistance is particularly good for prospective purchasers who can afford a mortgage but may not be able to get one due to a poor credit history as Co-Ownership can work with you to improve your credit history.

Co-Own for Over 55s:

This is a scheme designed for those over 55 years old who want to move to a new home but cannot afford it outright. Under the scheme, you use the equity from the sale of your current home or savings to purchase your share, which must be at least 50%.  Co-Ownership buys the remaining portion of the property and you pay a rent to them. The scheme is for new and existing properties up to the value of £190,000 and you can buy out Co-Ownership at any time.

Our Property Law Partner Ruth Flinn has a particular interest in helping people purchase through the Co-Own scheme and is a member of the Panel Solicitors for Co-Ownership.   Should you require any advice and assistance with a Co-Ownership purchase, Ruth can be contacted via email on or by calling 028 9024 3901