Co-Ownership?

crispqueen

The report is very positive...hope it all gets passed.:-)

leftieM

It doesn't have to go through Stormont does it?? You'll have a long wait....

crispqueen

:rotfl: ...HAHAHA...Glad to see you`ve got a good sense of humor Leftie

crispqueen

Still Waiting(yawn)

crispqueen

Hi - I see it changed to the highest property value now being £225000. The rent has been reduced again too but I`m just searching about now to see if the minimum buy is still 40% or did they change that to 25% as suggested!!!
Will keep you posted.

Trishh_2

I thought you could only buy through co-ownership ONCE? Has that changed?

crispqueen

Hi Trishh,
if their are circumstances wereby you`ve went back to renting your property (dont own your own property anymore) you can use co-ownership again.:-) They`ve kept their percentage to buy at 40% (for now) ...We`re going on Tues to speak to a mortgage broker...though to be honest I`m not getting my hopes up cos even to buy a property at 40% and add on the rent, it could still work out a lot more for us than renting...but I `ll see what happens.:-)

nicecarkeys

http://www.co-ownership.org/news/42/

£225000 new limit for more expensive areas of NI.
£180000 for others
40% start purchase %
Income multipiles extened.

Kataratarina

People have explained it before but i get confused when they mention a mortgage PLUS renting? would this not be a huge amount PM?

maybe i'm just being stupid?

how much roughly would i pay PM going co-ownership on a 150,000 house with no deposit?



thanks in advance

wifeforlife

Kat

NI co-ownership has a calculator that will help you understand the level of payments towards mortgage/rent each month!

I considered co/ow but decided against it, IMO not worth it in the long run, just be careful if you do go down this route
LINK

Cate