Applying to Co-Own for Over 55s

Great, so now that you know all about Co-Own for Over 55s it's time to apply. You can apply online, or call us to arrange an appointment and we can help you complete your application.

Before you apply there are just a few reminders.

When you apply to Co-Own for Over 55s we will perform a full credit assessment to determine your affordability. Part of this assessment is to look at your credit file, not your score, using the Experian credit reference agency. We will look at your credit history which will include things like, if you have any credit cards or loans, the amounts of these and your repayments of these, and if you have missed payments. Your credit history gives us an idea of how you have managed your credit up to now.

We recommend you check your credit report before applying to make sure there are no surprises that will negatively impact your application. Don’t worry if you don’t have a credit file or do not use credit you can still apply.

Check you meet our key criteria set out below. These apply to all applicants.

• I am 55 or over.
• Either I do not currently own any property or land in Northern Ireland or elsewhere, or I currently only own a property but I will sell this at the same time as completing the purchase of my Co-Own for Over 55s home.
• I will live in the property as my only residence and will not use the property for business purposes.
• I acknowledge that where I am married, a civil partner or part of a couple living together or intending to live together in a property then the application must be in the joint names of myself and my spouse, civil partner or partner.
• I am a resident in Northern Ireland.
• I have an adequate right to reside in Northern Ireland.
• I have had no Payday Loans or Home Credit within the last 12 months.
• Any Debt Relief Orders, bankruptcies or Individual Voluntary Arrangements that I have, have been satisfactorily completed at least 6 years before applying.
• I have no outstanding adverse credit at the time of making a Co-Own for Over 55s application e.g. CCJ's, Defaults.
• If employed and on notice of termination or redundancy I will advise you of this in my application.

We strongly recommend that before applying you read the full criteria, as applications that do not meet it will be declined. The application fee is non-refundable.

Already got a property in mind? In order to avoid disappointment, before applying please check that your chosen property meets our requirements by clicking here.

If you have any questions, please contact us on 028 9032 7276

To complete your application, we will require a copy of the following documentation which you will need to upload.

• Photographic ID.
• Proof of current address.
• The last 3 months payslips for all employment (where employed).
• The last 3 months bank statements.
• The last full years tax calculation summaries (SA302s) & corresponding tax year overviews (where self-employed). For company directors we also require your last 3 months payslips.

Some applicants may need to provide the following documentation based on their personal circumstances.

• Residency Documentation.
• Proof of savings e.g. savings statements.
• Proof of any other income e.g. pension or benefit award letters.
• If you own a property with a mortgage, a mortgage redemption statement.
• If you are separated or divorced, your full financial settlement or decree absolute.

Examples of the different types of documents can be found here.

You can apply online, or call us on 028 9032 7276 to arrange an appointment and we can help you complete your application. To complete an online application click 'I'm ready to apply' and you will be automatically taken to our application portal where you will need to:

1. Create an account. You will need a valid email address to do this.
2. Fill in application.
3. Upload your supporting documents.
4. Pay your application fee of £100. Please note this is non-refundable.

To arrange an appointment to complete your application with a member of the team click here.

Once you have submitted your application it will be reviewed by a member of our team. We will use Experian to review your credit history and to help us to make the decision on the credit worthiness of your application.

It is taking 5 working days to receive a decision for a new Co-Own for Over 55s application. Please note that we will delete any unsubmitted applications after 90 days.

Finally, there is a Property Application fee of £550 which is payable once you sale agree your chosen property.