Taking your first step towards home ownership can feel like a big decision, but the Co-Ownership application process is designed to be straightforward and supportive. You don't need to have a property lined up to apply, and our team is here to guide you through every stage.
This is an overview of the journey ahead, to help you get ready.
Before you start your application
It's worth spending a bit of time in the beginning to make sure you're ready to apply. This helps avoid delays later and means your application has the best chance of success.
- Check you meet our eligibility criteria. Key requirements include not currently owning any property (or if you’re applying for Co-Own for Over 55s, making sure your existing property is sold or for sale) or land, living in your new home as your only residence, and having no outstanding adverse credit like county court judgements or defaults. If you're married, in a civil partnership, or planning to live with a partner, you'll need to apply together.
- Review your credit report with Experian before you apply. We use Experian to assess your credit history, so it's important your report is in good shape. You can create a free account with Experian to check for any issues. If problems come up after you've applied, we may not be able to proceed, and you'll lose your Application Fee.
- Work out what you can afford using our affordability calculator. This gives you a realistic idea of what share you might be able to buy and what your monthly costs could look like, so you can plan accordingly.
- Decide which product best suits you. Co-Own is for those using a mortgage to buy their share, while Co-Own for Over 55s is for anyone aged 55 and over using savings, or equity from the sale of your current home.
If you have questions about whether you're eligible or which product is right for your circumstances, contact our team. We're always happy to talk things through before you apply.
What you'll need to apply
When you're ready to apply, you'll need some important documents to hand. This typically includes proof of identity, proof of address, and evidence of your income. For employed applicants, this means recent payslips and bank statements. If you're self-employed or a company director, you'll need the last two years of tax calculation summaries and tax year overviews.
Having these ready speeds up the process once you submit your application, so check our full list of required documents in advance.
How long does it take?
From application to completion, the timeline varies depending on your circumstances and how quickly you find a property. Here's what to expect:
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Application review takes around five working days on average, once we have all your documents. Your Co-Ownership Approval is then valid for 4 months for Co-Own applicants, or 6 months for Co-Own for Over 55s applicants, while you search for a home.
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Finding a property depends on the market and your preferences, but having your approval in place means you can move quickly when you find the right home.
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From accepted offer to completion typically takes between 8 to 12 weeks, similar to any house purchase, as solicitors handle the legal work and co-ordinate with all parties. Timelines will vary depending on the specifics of your situation.
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Our team keeps you informed throughout and is always available if you have questions.
Support along the way
You're not on your own during this process. Our team is here to answer questions, provide guidance, and help you make informed decisions at every stage. Whether you prefer to call, email, or book an appointment at our office, we're here to support you.
