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 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 usually need to be used toward the purchase.
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 route. Before relying on the page, check the official £215,000 property cap, fees, property rules and lender criteria for the specific purchase.
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 and able to live in Northern Ireland;
- you must not already own a home or land that would make the purchase unsuitable;
- you must show you cannot buy a suitable home without assistance;
- savings over £13,000 usually need to be used toward the purchase;
- self-employed applicants may need SA302s, tax calculations or accounts;
- adverse credit can affect whether Co-Ownership and a lender are comfortable.
Property rules and restrictions
Co-Ownership property criteria currently set the maximum property value at £215,000. 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, reviewed each year.
Key Co-Ownership figures
- Maximum property value
- £215,000
- Buyer share
- 50-90%
- Buy more shares
- 5% steps
Figures are source-backed as of July 2026. Lender deposit and affordability rules remain case-specific.
How to apply
- Check official Co-Ownership applicant and property criteria.
- Review affordability and likely lender options before making commitments.
- Find a property that fits the £215,000 cap 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 £215,000 cap is a hard property value limit 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 a current property cap of £215,000.
- 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 Housing Executive or qualifying tenants buying all or part of their social home.
- Help to Buy Mortgage Guarantee: the old NI-linked page is closed to new loans and is now relevant mainly for existing borrowers.
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.
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 and Co-Ownership property criteria.
FAQ
Frequently asked questions
Is Co-Ownership open in Northern Ireland?
Yes. Official nidirect and Co-Ownership guidance is live, so this page treats Co-Ownership as open. Criteria, fees and lender rules should still be checked before applying.
What is the Co-Ownership property price cap?
Co-Ownership property criteria currently state that the property must not exceed £215,000.
What share can I buy?
Official guidance says buyers usually buy between 50% and 90% of the property. Extra shares can normally be bought later in 5% steps.
Do I need a deposit for Co-Ownership?
Co-Ownership says it does not ask for a deposit, but the mortgage lender may require one. Deposit rules are therefore lender-led.
Can self-employed applicants use Co-Ownership?
Potentially yes. Co-Ownership guidance refers to evidence such as SA302s, tax calculations or accounts, and the lender will also assess income.
Can bad credit stop a Co-Ownership application?
Yes. Adverse credit can affect both scheme assessment and lender choice. 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.