Who is it for?
Co-Own for Over 55s is for people who want to move to a new home but can’t afford to do so on their own.
Naturally, it isn’t always easy to leave a house that you may have lived in for years, but if you have decided to move we can help you make it happen. There can be many reasons for moving later in life such as:
- Wanting to be nearer friends and family,
- Needing a home that is easier and cheaper to heat and maintain,
- Responding to health and/or mobility issues,
- You are not a homeowner but find yourself with a lump sum that you want to put towards buying a property.
Why apply for Co-Own for Over 55s?
People will apply to Co-Own for Over 55s for all different reasons, have a look at some of the reasons below. It is open to existing Co-Own customers who meet the criteria and seek to move to a more suitable home.
- Meet Angela
Angela is 70 and lives alone in her 3-bedroom terraced property in Lisburn. Her husband passed away 2 years ago. Since then, Angela has found it hard to maintain her home. After experiencing a fall at home last year, she is also having difficulty managing the stairs.Angela owns her home outright and it is currently valued at £115,000. She has savings of £3,000. Near her home in Lisburn there are apartments for sale. After chatting with her daughter, they think this could be an ideal home for Angela; it is all on one level with a lift to the upper floors and there would be no garden to maintain.
- Meet David
David is 63 and, after working for over 40 years, took early retirement last year. As part of his package, David received a lump-sum payment of £60,000. David also has savings of £50,000, a combination of personal savings and inheritance from his parents. David has owned a home in the past, but following a relationship breakdown, he is no longer a homeowner and has been renting for the last 10 years. He always thought he wouldn’t be able to afford to own a home again.
David has seen some new build terraced houses for sale in a development close to where he lives and is thinking of arranging a viewing.