Equity sharing
Tenants of the Housing Executive can buy part of their home, if they cannot afford to buy their home in full. They and the Housing Executive own equity in the property.
House sales scheme
Under the House Sales Scheme, eligible tenants of the Housing Executive have the right to buy their homes at a discount.
A maximum of four buyers may apply to jointly purchase the property but at least one of the buyers must be the legal tenant.
They're tenants of the Housing Executive however some housing associations may operate a voluntary scheme.
Equity sharing your home
Equity sharing is part of the House Sales scheme. The process follows the same rules as buying all the property from the Housing Executive or a housing association.
Buying part of your home
If you can't afford to buy the entire property, you can apply to buy what you can afford. You must buy at least 25 per cent of the property's equity. You can increase your equity share in multiples of five per cent at any time, which is known as 'staircasing'.
Leaseholder of the property
When you buy part of the property, you're the leaseholder and no longer a tenant.
For more information, contact Housing Executive.
Discount
You may be entitled to discount based on the price of the property you buy.
Discount is calculated on the number of years you have been a secure tenant and can be up to the scheme maximum of £24,000.
Leaseholder responsibilities
Rent
The leaseholder pays reduced rent, calculated on the amount of equity retained by the Housing Executive. The rent will also be reduced to cover maintenance of the property.
When the amount for maintenance is agreed, this stays the same while the leaseholder pays rent.
Rates
The leaseholder is responsible for paying rates. They should pay rates directly to Land & Property Services (LPS) as the landlord won't collect rates on their behalf.
Service charges
For flats or maisonettes, the buyer or leaseholder must also pay an annual service charge.
Maintenance and repairs
The leaseholder is responsible for maintenance and repairs, regardless of how much equity they buy.
For more information on the House Sales Scheme including equity sharing, contact the Housing Executive or your housing association: