If you cannot quite stretch to buying a home outright, Co-Ownership is Northern Ireland's answer, and it has helped tens of thousands of people get the keys to their first home. In this guide we explain how the scheme works in 2026, what it costs, who qualifies, and how the mortgage side fits together.
What is Co-Ownership?
Co-Ownership is Northern Ireland's shared ownership scheme, run by the Northern Ireland Co-ownership Housing Association. The idea is simple: you buy the share of a home you can afford, and Co-Ownership buys the rest. You pay your mortgage on your share and a monthly rent to Co-Ownership on theirs.
It is worth clearing up a common confusion straight away: the Help to Buy equity loan scheme you may have read about in the press never operated in Northern Ireland. If you are searching for "Help to Buy NI", Co-Ownership is the scheme you are actually looking for.
How it works in 2026
- You buy between 50% and 90% of the property. You start with as much as you can afford, and your mortgage only needs to cover that share, which is what makes the monthly numbers work for many buyers.
- The property can cost up to £215,000. The property value limit rose from £210,000 to £215,000 on 14 April 2026, which covers a large portion of the Northern Ireland market, including most starter homes.
- You pay rent on the rest. If you own 75%, you pay rent on the 25% Co-Ownership holds. Rent is reviewed each year.
- You can buy more over time. You can increase your share whenever you are ready, in 5% steps. Co-Ownership calls this "buying out", and most people elsewhere call it staircasing. Once you own 100%, the rent stops and the home is entirely yours.
- You choose the home. Unlike some shared ownership schemes in England that tie you to specific developments, Co-Ownership lets you pick a property on the open market, new build or existing, as long as it is within the value limit.
Who is eligible?
The scheme is aimed at people who can afford the ongoing payments but cannot buy outright without help. The headline criteria:
- You are over 18 and buying in Northern Ireland.
- You do not currently own another property or land.
- The home will be your main residence, not a business premises or rental.
- You can show you can afford your mortgage payments, rent and household bills.
Around nine in ten Co-Ownership purchases are made by first-time buyers, but you do not have to be one; people starting again after a relationship breakdown, for example, use the scheme too.
What does it cost?
Deposit: Co-Ownership itself does not ask for a deposit. Your mortgage lender might want one on your share, though some lend at the full value of the share. This is one of the biggest attractions of the scheme: buyers who could never save a five-figure deposit can still buy.
Scheme fees: there is a £100 application fee, a £120 property assessment fee, and legal fees of £480 paid to Co-Ownership.
Your usual buying costs still apply: your own solicitor, any survey you commission, and removals.
Ongoing costs: as the owner-occupier you cover home insurance, rates, maintenance and repairs, plus any service charge if the property has one, on the whole property, not just your share.
The mortgage side, and where we come in
Here is the part that catches people out: not every lender offers mortgages on Co-Ownership properties, and among those that do, criteria and rates vary. You need a lender that accepts the scheme's rules, on terms that suit your share size, deposit position and credit history.
That is exactly the job of a broker. At CGR Financial we work from a comprehensive panel which is representative of the whole of the market, we know which lenders are comfortable with Co-Ownership, and we handle the application alongside your Co-Ownership paperwork so the two move together rather than holding each other up. It is also worth comparing the latest mortgage rates in Northern Ireland before you commit.
Co-Ownership: quick FAQs
Is there an income limit? There is no fixed income cap; the test is affordability. Co-Ownership assesses whether the scheme is the right fit, including whether you could in fact buy without help.
Can I buy any house? Any property on the open market within the £215,000 limit, subject to Co-Ownership's property assessment.
Can I sell whenever I want? Yes. You sell the property, Co-Ownership takes its share of the proceeds, and you keep yours.
Does rent count against my mortgage affordability? Yes, lenders factor the rent into what you can borrow, which is one reason expert advice on lender choice matters.
Is it cheaper than renting? Often the combined mortgage-plus-rent payment compares well with private rents in Northern Ireland, with the difference that part of your payment is building equity in your own home. The numbers depend on the property and your share, and we can run them with you.
Ready to look at the numbers?
If you are weighing up Co-Ownership, the sensible first step is a conversation about what you could afford, both through the scheme and outright, because some buyers are closer to a standard mortgage than they think. Our initial consultation is free and there is no obligation to proceed.
Book a free consultation or call us and we will talk you through it.
Your home may be repossessed if you do not keep up repayments on your mortgage. CGR Financial Ltd is an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority.