Criteria updates

From 1st April 2023 we will be introducing the following changes to our applicant criteria. If you have any questions please contact a member of our team. Updated brochures will be available to download from Saturday 1st April 2023.

SectionNew or amended wordingProduct
Joint applicants (amended)Who should apply

Joint applicants – if you are married, civil partners, or couples living together or intending to live together in your new home, then you must apply together.

Single applicant – if you are applying on your own, we would expect that you don’t have joint accounts or joint finances with anyone else.

Co-Own

Co-Own for Over 55s

Rent to Own

Occupiers (new)Please let us know the names of all adults and children who will be living in your new home with you, the applicant(s).Co-Own

Rent to Own

Occupiers (new)Please let us know the names of anyone who will be living in your new home with you, the applicant(s).Co-Own for Over 55s
Savings (amended)The amount of savings a co-owner can keep for Co-Own is increasing from £10,000 to £12,000.Co-Own
Lifestyle, spending decisions (new)All applicants must prove they have been able to afford their current lifestyle. They must also prove they will be able to afford the commitment of owning their home through Co-Own/Co-Own for Over 55s from their current disposable income.

Co-Own

Co-Own for Over 55s

Income (amended)If an applicant is self-employed they should provide SA302 summaries in Northern Ireland for the last 2 years rather than 3 years and also the full tax return for their latest SA302.Co-Own
Homeowner (amended)If an applicant plans to submit a joint application and both applicants have a property to sell, one property should be sold before their application is submitted. We can only accept one existing property per application.Co-Own for Over 55s
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