TL;DR
Co-Ownership Northern Ireland - key points
Co-Ownership is open in Northern Ireland. Official guidance confirms a current property cap of £215,000 (£230,000 for new builds) and a buyer share usually between 50% and 90%.
Co-Ownership says it does not ask for a deposit, but your mortgage lender may still require one. Savings above £13,000 must be put towards the purchase. You pay rent on the share Co-Ownership owns, currently 2.5% a year of its value, plus scheme fees of £100 (application), £120 (property assessment) and £480 (legal).
Extend Finance can help with the mortgage side: affordability, lender choice, documents and understanding how the scheme affects the application. We do not decide scheme eligibility, allocate properties or approve the scheme application.
Status: open, but check current criteria
Co-Ownership is an active Northern Ireland scheme. Figures on this page were checked against official sources in October 2026, but the property cap, fees, property rules and lender criteria can change, so confirm them for your specific purchase before you reserve a home.
Rules can vary
Rules can vary by lender, provider, landlord, development or local authority. Always check the current criteria before reserving a property or applying.
How Co-Ownership works
Co-Ownership is a shared ownership route for eligible buyers in Northern Ireland. You buy a share of the property with a mortgage and pay rent to Co-Ownership on the share you do not own.
Official guidance says you can usually buy between 50% and 90% of an eligible home. You can later buy out more of the Co-Ownership share, normally in 5% steps.
Who may qualify
The scheme is aimed at people who cannot currently afford to buy a suitable home without help. Co-Ownership also checks residency, affordability, property ownership, savings and credit history.
- you must be at least 18, live in Northern Ireland and have the right to reside here;
- you must not currently own any property or land, including commercial property (previous co-owners may be considered, and the separate Over 55s scheme has different rules);
- you must show you cannot buy a suitable home without assistance;
- any savings over £13,000, in any form, must be put towards the purchase;
- if you are self-employed, provide SA302 summaries for the last 2 years, the full tax return corresponding to the latest SA302, and evidence of at least 3 months of uninterrupted trading. Company directors also provide 3 months of payslips; additional evidence may be requested (see self-employed mortgages);
- Co-Ownership checks your credit file (not your score) and does not accept applications with current adverse credit; lenders also apply their own credit criteria (see mortgages with poor credit).
Property rules and restrictions
Co-Ownership property criteria currently set the maximum property value at £215,000 for existing homes and £230,000 for new builds. Eligible homes can be new-build or existing properties in Northern Ireland, but the home must meet Co-Ownership condition, repair and service-charge rules.
New-build properties normally need an acceptable warranty, and some property types or high repair-cost cases may not be accepted. Do not reserve a property until the provider and lender route is clear.
Deposit, mortgage, rent and fees
A mortgage is still required for the share you buy. Co-Ownership says it does not ask for a deposit, but your lender may require one depending on the mortgage product, loan-to-value, credit profile and affordability.
Official nidirect guidance lists scheme fees including a £100 application fee, £120 property assessment fee and £480 legal fee. You also pay rent on the Co-Ownership share: Co-Ownership currently sets it at 2.5% a year of the value of the share it owns, and reviews it once a year (typically in April), with any change linked to inflation. Lenders include this rent in their affordability checks.
Key Co-Ownership figures
- Maximum property value
- £215,000 (new build £230,000)
- Buyer share
- 50-90%
- Buy more shares
- 5% steps
Figures are source-backed as of October 2026. Lender deposit and affordability rules remain case-specific.
How to apply
- Check official Co-Ownership applicant and property criteria.
- Review affordability (for a first estimate, try our how much can I borrow calculator) and likely lender options before making commitments.
- Find a property that fits the property value limit (£215,000, or £230,000 for a new build) and property criteria.
- Submit the separate Co-Ownership online application and pay the relevant scheme fees.
- Arrange the mortgage application with the lender once the scheme route is clear.
- Complete valuation, legal checks and completion steps with your solicitor and lender.
What to watch out for
- the property value limits (£215,000 existing, £230,000 new build) are hard limits and can change over time;
- a lender can still ask for a deposit even if Co-Ownership does not;
- rent and service charges affect monthly affordability;
- not every property, repair issue or service-charge structure will be accepted;
- scheme approval does not guarantee mortgage approval.
How Co-Ownership differs from other NI schemes
- Co-Ownership: NI-wide shared ownership for eligible buyers, usually 50% to 90% buyer share, with current property value limits of £215,000 for existing homes and £230,000 for new builds.
- FairShare: shared ownership for approved new-build properties through participating housing associations, with rent on the unsold share.
- Equity Sharing: tenant-only part-buy route within the House Sales Scheme, not an open-market buyer scheme.
- House Sales Scheme: for eligible Northern Ireland Housing Executive tenants. The statutory route for registered housing-association tenants closed to new applications on 28 August 2022.
- Help to Buy Mortgage Guarantee: this historic scheme is closed to new loans. Current low-deposit mortgage options must be checked separately with lenders.
How a mortgage adviser can help
Extend Finance can help with the mortgage side: affordability, lender choice, documents and understanding how the scheme affects the application. We do not decide scheme eligibility, allocate properties or approve the scheme application.
A mortgage adviser can compare lenders that support Co-Ownership, check affordability with rent included, prepare documents, explain gifted deposits or self-employed income and flag lender criteria issues before you apply.
Alternatives to compare
If Co-Ownership is not suitable, compare FairShare, House Sales Scheme if you are a tenant, or a standard first-time buyer mortgage. Co-Ownership only applies in Northern Ireland. If you are buying elsewhere in the UK, see shared ownership in England, shared ownership in Wales or shared ownership in Scotland.
Check your Co-Ownership mortgage options
If you are considering Co-Ownership, Extend Finance can help review affordability, deposit source, lender choice and documents before you commit to the scheme route.
Official sources
Check the latest official guidance before applying: nidirect Co-Ownership guide, Co-Ownership applicant criteria, Co-Ownership property criteria and Co-Ownership paying your rent.
FAQ
Frequently asked questions
Is Co-Ownership open in Northern Ireland?
Yes. Co-Ownership is an active shared ownership scheme in Northern Ireland, according to nidirect and Co-Ownership guidance (last checked October 2026). Check the current applicant criteria, property criteria, fees and lender rules before you apply.
What is the Co-Ownership property price cap?
Co-Ownership currently limits the full property value to £215,000 for an existing home and £230,000 for a new-build home. These limits apply to the whole home, not just the share you buy; Co-Ownership must also approve the property itself.
What share can I buy?
You normally buy between 50% and 90% of the home, with your initial share based on what you can afford. You pay rent on the share Co-Ownership retains and can later buy additional shares in 5% steps. Paying rent alone does not increase your ownership.
Do I need a deposit for Co-Ownership?
Co-Ownership does not require a property deposit, but your mortgage lender may require one. Confirm the amount with the lender before making an offer, and budget separately for scheme fees and other buying costs. A scheme with no deposit requirement is not a purchase with no upfront costs.
How is Co-Ownership rent calculated?
Co-Ownership currently sets rent at 2.5% a year of the value of the share it owns. Rent is reviewed once a year, typically in April, with any change linked to inflation, and lenders include it in their affordability checks alongside your mortgage payment.
Can self-employed applicants use Co-Ownership?
Self-employed applicants can be considered. Co-Ownership asks for SA302 summaries for the last two years, the full tax return for the latest SA302 and at least three months of uninterrupted trading; it may request more evidence. The mortgage lender separately decides whether your income meets its lending criteria.
Can bad credit stop a Co-Ownership application?
Yes. Co-Ownership checks your credit file (not your score) and does not accept applications with current adverse credit. Lenders also apply their own credit criteria, so it is worth reviewing your credit record before applying.
Can a broker approve my Co-Ownership application?
No. Extend Finance can help with mortgage affordability, lender choice and documents, but Co-Ownership decides scheme eligibility and the lender decides the mortgage.
What are the main alternatives?
FairShare may suit some new-build buyers. House Sales Scheme or Equity Sharing may be relevant for eligible tenants. A standard first-time buyer mortgage may work if affordability is strong enough without shared ownership.