When everyone has a home

Housing advice for Northern Ireland

co ownership

There are a few different schemes that may be of assistance if you are planning to buy a home in the near future. These include shared ownership schemes, where you part buy and part rent, a rent to buy scheme that will pay you a rebate on some of the rent you’ve paid and government backed savings schemes which will give you a bonus to add to your deposit.

A number of companies in Northern Ireland provide “rent to buy” schemes. Only one of these is backed by the government. This government-supported scheme is managed by Co-Ownership Housing Association. This scheme gives people an opportunity to move into a new build home as private tenants with an option to purchase the property.

Shared ownership schemes allow someone to own a portion of a property and to rent the remainder from a housing association. For years, Co-ownership Housing has been the best known scheme for people who want to buy a home but who cannot afford to purchase 100% of the property they’re interested in.

The government’s Help to Buy initiatives include access to mortgages for those people who only have a 5% mortgage and a savings bonus scheme for people saving towards a deposit on their first home.

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