Living in your Home

Now that you have moved into your new home, you might have some further questions, for example, ‘how do I pay my rent?’ or ‘can I make improvements?’

Co-Own for Over 55s works in a similar way to our main product Co-Own. This page provides you with an overview of the main features and a link to find more information.

Rental payments

As explained in the ‘Fees and Rent’ section, the amount of rent you pay will depend on the value of your home and your share of it. Rent is currently charged at 2.5% of the value of the Co-Ownership share of your home. For example, if your home is valued at £120,000 and you own 50% the annual rent is £1,500 or £125 per month. To view our rent table please click here.

Rent is payable in advance on the first of each month. Co-Ownership will collect your rent via Direct Debit on the 1st or the 10th of each month.

We work with Experian to enhance your credit report by adding your rental payment data into the Rental Exchange. Making your rent payments on time will show on your credit report. If you do not make your payments on time, this could negatively impact your credit report.

If you are having any difficulty paying your rent please contact us as soon as possible on 028 9032 7276 or

For more information about your rental payments please click here.

Making improvements

It’s your home to put your own stamp on it. As the property should meet your needs now, it shouldn’t need any immediate upgrading or major alterations. You only need to contact us if you are thinking of making a structural change such as building a garage or extension.

If you decide to increase your share or sell your home, we will exclude the value (equity) you have added to your home (through carrying out improvements) and value it to the same standard that you bought it, but at the current market value. Please be aware that the cost of making improvements to your property is not the same as adding value. For example, a new kitchen may cost you £7,000 but may only add £3,000 to the value of your home. For more information about making improvements please click here.

Increasing your share

If you choose to you can increase your share at any time, however there is no requirement to do so. You can increase your share in either chunks of 5% or by buying out fully. If you are thinking about increasing your share in chunks of 5% this must be done through savings and not via a mortgage. If you want to buy out fully you can fund it either with your savings or selling your home. For more information about increasing your share please contact a member of our team by completing our contact form or by giving us a call on 028 9032 7276.