Deposit & savings

Savings

Savings criteria differs for Co-Own, Co-Own for Over 55s and Rent to Own.

If you are applying to Co-Own and have savings over £10,000 we would ask that anything over the £10,000 be put towards a deposit. For example, if you have £12,000 in savings, we will ask that £2,000 is used towards the deposit.

If you are applying to Co-Own for Over 55s you can keep up to £25,000 in savings or equity from the sale of your current home. Anything above this must be put towards your contribution for your Over 55s home. For example, if you have £30,000 in savings, £5,000 should be added to your starter share.

If you are applying to Rent to Own, there is no limit to the amount of savings you can have.