Another chance for second time/returning buyers to get on the property ladder.
For people who may have owned a property before, but who do not own one now.
Applicants must have:
- No mortgage
- No property to sell
- No interest in any property, in this country or abroad
- Concluded any settlement arrangements from any previous relationships.
In addition, there must be no unpaid debt relating to a previous mortgage.
Applicants are subject to the normal rules for applications to the Co-Ownership Scheme - for example, they are part of the applications quota when it is operating. They must also meet our standard eligibility criteria (download our Applicant Info Pack for details). They must be completely clear of any past ownership connection at the time they apply - otherwise, we cannot take the application forward.
As all applicants must meet our criteria in place at the time, the above requirements are equally relevant in cases where there are 2 applicants and one of them is a first time buyer and the other a second time/returning home buyer.