3-year programme announced
Friday 6 November 2009
1,500 homes through Co-Ownership over 3 years through to 2012. Alan Crowe, Chief Executive of Co-Ownership Housing, confirms the planned programme of property purchasing on behalf of Co-Ownership clients.
"Working alongside Bank of Ireland and Barclays we are levering in private finance of £48m to buy homes through the Co-Ownership Scheme over the 3 year period. We believe this is the largest single private funding deal yet for a Northern Ireland housing association."
"The funding enables us to purchase the government's target of 1,500 homes on behalf of Co-Ownership buyers before the end of that 3 year period - so, 500 each year. "
"It supplements our government funding and means that we can continue the Co-Ownership programme to the level that we have been over recent months, which is very good news."
Alan explains "This funding deal enables us to play our part and purchase the homes for clients in the first place. It is on top of the mortgage portfolio for Co-Ownership clients that Ulster Bank announced earlier in the year. We now see 3 major local banks dedicating funds to working alongside the Co-Ownership Scheme."
