About

If you are over 55 and want to move to a new home but can’t afford to, we can help you bridge the gap.

Many people in later life find themselves living in a home that has become unsuitable due to a change in circumstances such as their family life, location, health or other issues.

The trouble is that often their current house may not have the monetary value (equity) they need to buy their new home and getting a mortgage to cover the difference isn’t an option.

With Co-Own for Over 55s we buy the right property for you, together. You use the equity from the sale of your current home or savings to purchase your share, and we buy the rest. You must be able to take a share of at least 50% up to a maximum of 90% of your new home, funded by the equity you hold in your current home or savings. We provide the rest of the money and you pay us a monthly rent at an annual cost of 2.5% of our investment.

So, for example, if we have invested £24,000, your monthly rental payments to us will be £50 per month (2.5% of £24,000 divided by 12 months). This means we can bridge the gap between the home you own now and the cost of your new home in a way that is affordable for you. You can also retain up to £26,000 from your savings or from the sale of your home, anything above this must be put towards buying the new property.

Your new home can be anywhere in Northern Ireland, an existing or new build property, and it should be suitable for your needs now without further immediate adaptation.

We believe this partnership could provide a perfect solution to your changing housing needs, giving you the freedom to enjoy life.