Property Value Limits
Effective 15 September 2026
From 15 September we are introducing a new Property Value Limit (PVL) of £230,000 for new build homes, in addition to our current PVL of £215,000 for existing homes.
The PVL is the maximum value of a home that we can support. However, the maximum property value you're approved for will depend on what you can afford and is detailed in your Co-Ownership Approval.
We know that new build homes in Northern Ireland can be more expensive. That's why the PVL for an existing home is £215,000, while for a new build home it is £230,000.
Customers with a valid Co-Ownership Approval at the £215,000 PVL will be reassessed to check if they are eligible for a higher new build property value, and contacted if this applies.
What is a Property Value Limit (PVL)?
The Property Value Limit (PVL) is the maximum price of a home that can be bought through Co-Ownership. The property must be valued at or below this amount, and the final agreed price cannot exceed it. This applies to the full purchase price of the home, not just the share that you're buying. So regardless of whether you're purchasing a 50% or 90% share, the total value of the property has to fall within this limit.
The maximum property value you're approved for will depend on what you can afford and is detailed in your Co-Ownership Approval.
From 15 September, we are introducing a second, higher PVL, specifically for new build properties. The introduction of an increased PVL for new build homes includes homes only available through Co-Ownership, as well as other eligible new build homes up to £230,000.
From 15 September we'll be offering two PVLs.
Why is Co-Ownership introducing a second Property Value Limit?
Newly built homes are usually more expensive than homes that have already been lived in. To help more people buy a new build home through Co-Ownership, we are introducing a second PVL. So we'll be able to offer:
- Our current PVL of £215,000 for existing properties.
- A second PVL of £230,000 for new build properties.
We define new build homes as properties built within the last 2 years, that have never been lived in, and existing homes as properties that have been lived in.
How we communicate property values with our customers
The maximum value of a property that Co-Ownership can support is outlined in your Co-Ownership Approval. This is based on your individual circumstances.
If your Approval supports:
- up to £215,000: you'll be offered a single property value that applies to both existing properties and new builds.
- between £215,001 and £230,000 you can choose:
- an existing property up to £215,000 or
- a new build property up to the property value shown on your Approval
All properties are subject to an independent property assessment carried out by a RICS registered surveyor.