Co-Own is our shared ownership plan. In a nutshell, we buy a place together. You buy the share that you can afford, between 50% and 90%, and we cover the rest.
You pay the mortgage on your bit and pay us rent on our bit (did we mention that you don’t always need a deposit with Co-Own? Some lenders take our share instead of a deposit). Because the rent we set is lower than the market rate and the mortgage you need is smaller, your monthly repayments could be less than they would be if you’d bought it outright.
When you’re able to, you can increase your share in your home bit-by-bit until you own it all.
And don’t worry; just because we’ve bought a place together doesn’t mean we’re moving in! It’s 100% your home.
If you decide to sell your home and move on, we will value your home. You will get the benefit of any increase in the value of your home due to improvements you have made and then the remaining value will be split between you and us, depending on the share that you own.
Since Co-Ownership was founded in 1978, we’ve helped over 27,000 people buy their first home, and we currently have over 8,000 Co-Owners. Could you be our next moving story?