You pay the mortgage on your bit and pay Co-Ownership rent on their bit. Check out the Help & Support section of the Co-Ownership website for a current list of Co-Own lenders. Because the rent they set is lower than the market rate and the mortgage you need is smaller, your monthly repayments could be less than they would be if you’d bought it outright.
When you’re able to, you can increase your share in your home bit-by-bit until you own it all.
And don’t worry; just because we’ve bought a place with Co-Ownership doesn’t mean they are moving in! It’s 100% your home.
If you decide to sell your home and move on, Co-Ownership will value your home. You will get the benefit of any increase in the value of your home due to improvements you have made and then the remaining value will be split between you and us, depending on the share that you own.
Since Co-Ownership was founded in 1978, they have helped over 30,000 people buy their first home, and they currently have over 10,000 Co-Owners. Could you be the next Co-Ownership moving story?
We’ll try and keep this simple! In a nutshell, Co-Ownership buy a home together: You buy the share of a house that you can afford and they buy the rest. You then pay the mortgage on your bit and pay us rent on our bit.
When you’re confident that you can afford it, you can increase your share by buying back some of Co-Ownerships bit. If your plan is to eventually own 100% of the house we’d encourage you to do this as soon as you can. Don’t worry though; although the majority of co-owners buy Co-Ownership out fully or sell on their property there’s no requirement for you to increase your share at all.
