What is Co-Ownership?

Co-Ownership is a shared ownership scheme in Northern Ireland designed to help people who cannot afford to buy a home outright. It’s an ideal option for first-time buyers or those with limited deposits or borrowing ability. Through the scheme, you buy a share of a property — typically between 50% and 90% — while Co-Ownership purchases the remaining share. You then pay rent on the part owned by Co-Ownership, usually at a reduced rate compared to market rent. Over time, you can increase your share by buying out more of the property through a process known as “staircasing,” until you own it outright.

Co-Ownership gives buyers more flexibility and affordability when getting on the property ladder, particularly in a challenging housing market. It’s available for new builds or resale properties, and buyers must live in the home as their main residence. To be eligible, you’ll need to meet certain financial and personal criteria, and the property must fall within valuation limits set by Co-Ownership NI.

At Kempton Redman Law, we guide clients through the Co-Ownership process with expert legal support, helping you understand the terms, liaising with all parties, and ensuring your purchase goes smoothly from start to finish.