Property criteria

Criteria updated 14th March 2022

Once you have read about Co-Own for Over 55s property criteria, we recommend that you read about What happens in the future. If you have a home to sell we recommend you read the section on Selling your existing home.  If you have any questions give us a call on 028 9032 7276.

Property PriceMaximum property value of £175,000.
LocationWe will purchase existing and new build properties anywhere in Northern Ireland.
New buildsBasic ‘turnkey’ packages are acceptable. You must declare any incentives you are offered. We may not agree to them.

Properties with PC sums are generally not acceptable.

We will generally not pay for extras in new build property, or for furnishings/moveable fittings in existing property.

New properties must have a suitable 10-year structural warranty.

WarrantiesProperties under 10 years old must have the balance of their original 10-year structural warranty.
DepositsIf all or any part of the property deposit comes as a gift from a friend or relative, we can count it towards your starter share. With your application, you must provide confirmation from the person making the gift, stating the amount and purpose.
Energy PerformanceYou must satisfy yourself on the energy performance rating of your chosen property. Property must have a relatively good energy performance rating. An EPC rating is on a scale from ‘A (most efficient) to G’ (least efficient). A good EPC rating is beneficial as it helps reduce energy bills, make your home warmer and more comfortable.
SuitabilityYou must satisfy yourself that your chosen property meets your needs in its current format without requiring immediate and major alterations/upgrading.
Property typeSorry, but we don’t accept:

  • One-bedroom apartments or houses;
  • Architect certified properties or;
  • Properties that require a substantial amount of work to resolve defects

To find out more go to the ‘What type of property can I look for’ section on our website.

Service chargesA service charge is the amount you pay towards the upkeep of any common or shared areas relating to a house or an apartment. It should be reasonable for the services provided. Service charges for a house will be less than for an apartment.  All service charges must be affordable for you. We would expect that a service charge for a house would be usually no more than £200 per year and an apartment would not usually be more than £1,000 per year. If the proposed service charge will be more than this please contact us.