Services

Guide to Co‑Ownership in Northern Ireland

Last updated: 24 January 2026

Co-Ownership in Northern Ireland: a practical 2026 guide

Co-Ownership Northern Ireland is the flagship NI shared-ownership scheme, letting you buy a share of a home (50–90%) with a mortgage and pay rent on the rest. The property price cap is £210,000. Following March 2025’s £153m government funding boost, AIB NI launched a no-deposit Co-Ownership mortgage — meaning some buyers can now get on the ladder with zero personal deposit. Three lenders currently offer Co-Ownership-compatible mortgages: AIB, Danske Bank and Progressive Building Society.

Co-Ownership can be a realistic way to get on the property ladder if buying outright isn’t currently affordable. This guide walks through how it works, the latest 2025–2026 lender landscape, the costs, the application process and how to compare a Co-Ownership purchase against buying outright.

If you’d rather just talk through whether Co-Ownership suits your situation, book a free initial chat with one of our advisers.

Co‑Ownership NI: key facts at
a glance

Property price cap: there’s a maximum property value limit for Co‑Ownership purchases (currently shown as £210,000 on NI Direct).
Starting share: you can usually start by buying 50% up to 90% of the property price (based on affordability).
Buying out: you can increase your share later in 5% chunks (often called “buying out”).
Rent: you pay rent on the share Co‑Ownership owns, and it’s reviewed annually.
Fees: NI Direct states there’s a £100 application fee and, if successful, a £575 fee covering the property survey and some legal fees.

What is Co‑Ownership in Northern Ireland?

If you want to buy a home but can’t afford to buy without help, Co‑Ownership may be an option. NI Direct describes it as buying a share of the property and renting the rest from Co‑Ownership, a registered housing association.

The Northern Ireland Housing Executive summarises it simply: you buy the share you can afford now, Co‑Ownership covers the rest, you pay the mortgage on your share and pay Co‑Ownership rent on theirs — and you can increase your share over time if you choose.

How does Co‑Ownership work?

Think of Co‑Ownership as a “split” home purchase:

You buy a share of the property (commonly 50%–90%), typically using a mortgage.
Co‑Ownership buys the remaining share.
You then have two regular housing costs:
- Mortgage payment on your share
- Rent on Co‑Ownership’s share (reviewed yearly)
Over time, you may be able to increase your ownership in stages (often 5% at a time) until you own more — potentially all — of the property.

What homes can you buy with Co‑Ownership?

According to the Housing Executive, you can choose a new build or existing property anywhere in Northern Ireland, as long as it’s within the scheme’s maximum property price limit (noted as £210,000 on the page).

Co‑Ownership also decides whether a property is suitable for buying through the scheme (NI Direct notes that there are conditions a property needs to meet).

Who is Co‑Ownership for?

NI Direct frames eligibility around two key ideas:

You need to show you can afford the payments involved in buying a property.
You need to show you don’t have an alternative, unassisted route into home ownership.

The Housing Executive also notes that while the majority of Co‑Owners are first‑time buyers, people who have owned a house before can also apply in some cases.

Do you need a deposit for Co‑Ownership?

NI Direct states Co‑Ownership doesn’t ask for a property deposit, but your mortgage lender might — which is a really important distinction.

In practice, that means your deposit requirement (if any) is driven by:

the lender’s criteria,
your credit and affordability,
the property and loan size.

If you want to get a quick feel for repayments before you go deeper, you can use the Mortgage Calculator.

What other costs are involved?

Even though Co‑Ownership can reduce the size of the mortgage you need, it is still home ownership — and NI Direct explicitly lists common owner‑occupier costs you’ll be responsible for, such as:

insurance
rates
service charges
maintenance and repairs

It’s worth building these into your monthly budget before you commit.

Also, depending on the purchase price and your circumstances, Stamp Duty Land Tax may be relevant for buyers in England and Northern Ireland (rules vary). If you want a quick estimate, use the Stamp Duty Calculator.

Co‑Ownership fees: what to expect (as a starting point)

NI Direct sets out two fees during the process:

You apply online and must pay a £100 application fee (and NI Direct states it isn’t refundable).
If successful, NI Direct says you pay a £575 fee for the property survey and some of your legal fees.

Always check the latest scheme documentation and confirm costs before you proceed, because fees and requirements can change.

Step‑by‑step: how to apply for Co‑Ownership (simple version)

1. Get clear on affordability

Before you apply, work out what you can comfortably afford each month, allowing for:

mortgage + rent,
bills, rates, insurance,
and a buffer for life (car costs, childcare, etc).

2. Understand your mortgage options for your share

You’ll typically need a mortgage for your portion of the home, so a lender will assess income, outgoings and affordability — just as they would for a standard purchase.

If you’d like specialist guidance tailored to your situation, start with First-Time Buyer Mortgages.

3. Apply to Co‑Ownership

NI Direct states the application is made online and includes the £100 application fee.

4. Choose a suitable property (within the cap)

The Housing Executive notes the property needs to be within the maximum property price and that Co‑Ownership will look at suitability.

5. If approved, progress survey + legal work

NI Direct describes the £575 fee at this stage for survey and some legal fees.

6. Complete and move in

Once approved, mortgage arranged and legal work completed, you move in — with a mortgage on your share and rent on the remainder.

Co‑Ownership vs FairShare: what’s the difference?

Northern Ireland also has FairShare, another shared ownership route.

FairShare describes itself as a shared ownership scheme where homebuyers buy a share of a new‑build property (and pay rent on the rest). FairShare’s eligibility page also includes criteria such as not owning a home in the UK or abroad, and (typically) buying a new‑build property with a full purchase price not normally exceeding £160,000 (per the scheme’s wording).

A simple way to think about it:

Co‑Ownership: new build or existing homes (within the cap) across NI.
FairShare: focuses on new‑build properties (and outlines specific qualifying criteria).

Both can be helpful — the “right” choice depends on availability, eligibility, your budget, and how you want your home ownership journey to look.

Common pitfalls (and how to avoid them)

Underestimating monthly costs

Mortgage + rent is only part of the picture. NI Direct is clear you’ll still be responsible for ongoing ownership costs like insurance, rates and repairs.

Leaving mortgage prep too late

Because your lender may still want a deposit and will assess affordability, it’s wise to prepare early and have documents ready.

Not planning your “buying out” strategy

You don’t have to increase your share immediately — but if full ownership is your long‑term plan, it’s worth mapping out what would need to change (income, savings, childcare costs) to make that realistic.

FAQs: Co-Ownership in Northern Ireland

What is the Co‑Ownership property price cap in Northern Ireland?
NI Direct states there’s a cap on the value of the property you can buy as a co‑owner, shown as £210,000.
How much of the property can I buy at the start?
NI Direct says you can start with what you can afford, from 50% up to 90% of the property price.
Can I increase my share later?
Yes — NI Direct says you can increase your share at any time in 5% amounts (“buying out”).
Do I pay rent as well as a mortgage?
Yes — NI Direct explains you pay rent on the share owned by Co‑Ownership, and rent is reviewed every year.
Do I need a deposit?
NI Direct states Co‑Ownership doesn’t ask for a property deposit, but your lender might.
What fees do I pay when applying?
NI Direct states there’s a £100 application fee, and if successful, you pay a £575 fee for the property survey and some legal fees.

The wider first-time buyer picture

Co-Ownership is one route onto the ladder in NI, but it’s not the only one. If you’re weighing it up against buying outright with a 5% or 10% deposit, the comparison matters — and the right answer depends on your income, deposit position, and how quickly you want to own outright.

For the full picture across all NI first-time buyer routes — standard mortgages, Co-Ownership, FairShare, deposit gifts and more — see our complete First-Time Buyer Mortgages NI guide.

Then read on for the 2025–2026 Co-Ownership lender comparison and the latest funding update.

The 2025–2026 Co-Ownership lender comparison

March 2025 brought a major lift for Co-Ownership: the NI Department for Communities confirmed £153m of fresh funding to support around 4,000 homes over the following four years. The property price cap was raised to £210,000 — keeping pace with NI house price growth.

April 2025 then saw AIB NI launch a no-deposit Co-Ownership mortgage — a genuinely new option that lets eligible buyers purchase with zero personal deposit. This is the only mainstream zero-deposit route currently available in NI.

Three lenders currently offer Co-Ownership-compatible mortgages in NI:

AIB NI — offers the no-deposit Co-Ownership mortgage. Strong appetite for the scheme, well-established Co-Ownership team. The pioneer of zero-deposit Co-Ownership lending in NI.
Danske Bank — long-standing Co-Ownership lender. Standard deposit requirements apply on their Co-Ownership products. Strong general appetite for NI residential lending.
Progressive Building Society — a smaller but consistent participant in the Co-Ownership scheme. Member-focused approach.

Each lender’s exact rates, criteria and eligibility differ — and they change. We work across all three and will match you with the right one for your specific income profile, employment status and deposit position.

How does no-deposit Co-Ownership actually work?

You take a 100% LTV mortgage on your share of the property. So if you buy a 50% share of a £180,000 home, you take a £90,000 mortgage with no personal deposit; Co-Ownership owns the other 50% (£90,000); you pay rent on Co-Ownership’s share. There’s no separate deposit you need to find.

You’ll still need to budget for the application fee (£100), survey/legal fees on success (£575), removals and the first-month settling-in costs — see our full cost of buying in NI guide for the complete picture.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Find out if Co-Ownership suits your situation

Co-Ownership is right for some NI buyers and wrong for others. The honest answer depends on your income, your deposit position, your long-term plans and what you can realistically afford each month.

Book a free initial chat →

30 minutes. No obligation. We’ll model Co-Ownership against buying outright in actual pounds and pence for the property you have in mind, walk you through the application, and identify which of the three lenders fits you best.

Or call 028 9066 5544. Or email office@crawfordmulholland.com.

How Can We Help?

If you find yourself unsure anything finance related and think we can help, we have a great team of advisors available to chat both online and in person to help with any queries you may have.

Book Appointment