Co-Ownership mortgages in Northern Ireland

How it works

Apply to Co-Ownership and pass their affordability and eligibility checks.
Choose a home on the open market (not just new builds) within the property value limit and their criteria.
Buy a share of between 50% and 90% with a mortgage. Co-Ownership buys the remainder.
Pay your mortgage on your share and rent to Co-Ownership on theirs.
Buy more of the home over time ("staircasing"), in steps of 5% or more, or all at once, until you own it outright. You can also sell at any time at market value.

Property value limits

The limit for existing homes was raised to £210,000 from 1 April 2025. In 2026 the Department for Communities set a separate, higher limit of £230,000 for new-build homes. Limits are reviewed periodically, so check the current figure on Co-Ownership's own site before you start viewing.

Who it suits

Mostly first-time buyers who can afford the monthly cost of a mortgage on part of a home but not the deposit on all of it. You must be over 18, not currently own property, and intend to live in the home as your main residence. Previous homeowners can qualify in some circumstances, and there is a separate product for people aged 55 and over.

The mortgage side

Not every lender offers Co-Ownership mortgages, and the ones that do have specific criteria: they lend on your share only, and the rent to Co-Ownership is counted as a commitment in the affordability test. Deposit requirements on the share are often modest, and some lenders will lend the full value of the share. Because the lender choice is narrower, this is a case where a broker who does Co-Ownership regularly saves real time.

Things to weigh up

You are responsible for all maintenance, insurance and rates on the whole home, not just your share.
If prices rise, buying further shares costs more, because each step is valued at the current market value.
Structural changes and letting the property out need Co-Ownership's permission.
Around nine in ten co-owners go on to buy Co-Ownership's share outright, so it is designed as a stepping stone, not a permanent arrangement.

Common questions

Is Co-Ownership the same as shared ownership in England?

Same basic idea, different rules. In Northern Ireland you can pick almost any home on the open market rather than only new builds, buy up to a 90% starting share rather than 75%, and sell to anyone at market value at any time.

How much deposit do I need for Co-Ownership?

It depends on the lender and your share. Some lenders will lend the full value of your share, so little or no deposit is needed beyond fees; others want 5% or 10% of the share. Your broker will confirm what's available to you.

Can I use Co-Ownership for a new build?

Yes. New-build homes have their own, higher property value limit and must carry a valid 10-year structural warranty.