We are proud to offer mortgages under the Co-Ownership scheme.
The Co-Ownership Mortgage enables first time buyers to purchase a property via funding from Ulster Bank & the Co-Ownership Housing Association.

Who is eligible?

First Time Buyers who are resident in Northern Ireland and who wish to purchase a property in Northern Ireland which has a maximum price of £175,000. It is not restricted to new developments.

How to apply?

If you are eligible and interested in the Co-Ownership Mortgage you must first apply via Co-Ownership Housing to be accepted into the scheme. Co-ownership Housing can be contacted by via freephone* 0800 333644 or via their website www.co-ownership.org.

Co-Ownership Housing will ask you to complete an application form and if your application is accepted you will receive a Co-Ownership Letter of Offer. This Letter of Offer must be presented by you to Ulster Bank before we can commence a Co-Ownership Mortgage application.

How does the Co-Ownership Mortgage work?

The scheme allows you to buy at least half of a property (which is valued up to a maximum of £175,000). The remainder is financed by Co-Ownership Housing and in return you would pay Co-Ownership Housing a monthly rent for this portion. There is no need to save for a deposit.

Over time you can increase the % share of the property you own by buying out Co-ownership's share.

Ulster Bank's Co-Ownership Mortgage range

We have a range of Co-Ownership mortgages which includes 2 Year & 5 Year fixed rates. We can provide mortgages for up to 90%, Loan to Value (LTV). Co-Ownership Housing provides the remainder of the funds required. For LTVs higher than 75% a deposit of 5% is required.

Our Co-Ownership mortgage products are subject to change and full details are available on the Co-Ownership Mortgage rates page. Mortgage lending is subject to standard affordability criteria.

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