Co-ownership housing

If you want to buy your home, but cannot afford to buy without help, you might be eligible for co-ownership. You buy a share of the property and rent the rest from Co-Ownership, a registered housing association.

How co-owning your home works

There's a cap on the value of the property you can buy as a co-owner. The cap is  £165,000.

You can start with as much as you can afford from 50 per cent up to 90 per cent of the property's price. This is usually set at the maximum percentage you can afford.

You can increase your share at any time in five per cent amounts. This is known as 'buying out'.

Renting some of the property

You pay rent on the share of the property that Co-Ownership owns. For example if your own 75 per cent of the property, you pay rent on Co-Ownership's 25 per cent. The Department for Communities (DfC) sets the rent and any annual rent increases.

Buying some of the property

You buy as much of the property as you can afford. You're responsible for making payments. You choose the lender and arrange a mortgage. Co-Ownership doesn't ask for a property deposit but your lender might.

As an owner occupier, you will also be responsible for the property costs such as:

  • insurance
  • rates
  • ground rent
  • service charges
  • maintenance
  • repairs

Eligible for the co-ownership scheme

To buy a home with help from Co-Ownership, you must meet their criteria and show:

  • you can afford to make the payments involved in buying a property
  • you don't have an alternative, unassisted route into home ownership

For more information on co-owning your home, go to:

Properties suitable for co-owning

If you want to co-own the home you live in, Co-Ownership decide if the property is suitable for buying. Every property must:

  • have a valuation and a price of £165,000 or less
  • have a ten-year build warranty for a new property
  • have the balance of the original build warranty for a property less than ten years old

Applying to co-own your home

You apply online to Co-Ownership. You must pay £70.00 application fee.
Co-Ownership assesses your financial circumstances to check you're eligible for co-owning your home. The application fee isn't refundable.

If you're successful,  Co-Ownership will ask you to upload information about the property you want to co-own. You must pay £430 fee for the property survey and some of your legal fees. 

To read more about home co-ownership, go to:

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