Northern Ireland Co-Ownership Housing Association

Chief Executive
Mr Mark Graham

Chairperson
Mr David Little 

www.co-ownership.org
ghughes@co-ownership.org
mgraham@co-ownership.org

Northern Ireland Co-Ownership Housing Association performance information

• Northern Ireland Co-Ownership Housing Association reports

Co-Ownership

Co-Ownership is a not-for-profit organisation that helps people become homeowners. They have three ways to help people: Co-Own, Rent to Own and Co-Own for Over 55s. Since 1978 they have helped over 30,000 people buy a home in Northern Ireland, and currently have over 10,000 customers.

Co-Ownership’s Purpose

"To deliver opportunities for people to access quality homes and guide them on their home journey.”

Co-Ownership helps people to own their own homes through equity sharing, which means part-buying and part-renting the property of their choice. If a person would not normally be able to buy the home they need on a full mortgage, Co-Ownership enables them to buy as much as they can afford initially, with the option of buying the rest from Co-Ownership at any time.

Co-Ownership rent is worked out on the value of the property and the size of the share the customer takes. The larger the share they take, the lower the rent. To start with the customer buys a share of the property depending on how much of the mortgage they can afford, this will be between 50 per cent and 90 per cent of the purchase price. Co-Ownership will buy the remaining share and the customer pays a rent to them on the remaining part of the property. Over time the customer can increase their share until it is owned outright in slices of 5 per cent or higher percentage blocks, all at once, or not at all.

Customers can choose a property up to £195,000 (the property Value Limit). The property can be anywhere in Northern Ireland and can be a new build or an existing home.

Rent to Own allows prospective home owners to choose a new build house anywhere in Northern Ireland up to the Property Value Limit. If the property is suitable, Co-Ownership will buy it and rent it to the prospective home owners for up to three years, with the owner able to purchase it any time after the end of the first year.

Like Co-Ownership, Co-Own for Over 55s helps people to purchase a home through equity sharing up to the Property Value Limit. It helps people aged 55 and over who want to move to a more suitable home that better meets their needs as they age but can’t afford to do so on their own.

Further Information

You should use the above information as a guide. All queries should be made to Co-Ownership during office hours on 028 9032 7276, or via their website.

• Co-Ownership

The Northern Ireland Co-Ownership Housing Association Limited (Co-Ownership) is registered as a housing association under the Housing (Northern Ireland) Order 1981 and also as a friendly society under the Industrial and Provident Societies Acts (Northern Ireland) 1969 and 1976.  Co-Ownership is regulated and partly funded by the Department for Communities.