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As panel members of the Northern Ireland Co-Ownership Housing Association (Co-Ownership), Cleaver Fulton Rankin are pleased to report that Co-Ownership have launched a new product, Co-Own for Over 55s.
The Co-Own for Over 55s product will allow people to move to a new home, even if the value of their current home or savings does not stretch to cover the cost of a new home. Co-Ownership will make up the purchase price and in return the applicant will pay Co-Ownership a monthly rent at an annual cost of 2.5% of their investment.
The main features of the Co-Own for Over 55s product are as follows:
Please visit the Co-Ownership website for more detailed information on the Co-Own for Over 55s product and the application process.
If you are thinking of buying your home through Co-Ownership, whether using their new Co-Own for Over 55s product or the existing Co-Own or Rent to Own schemes, we recommend that you seek legal advice at an early stage.
For further information on selling or buying a residential property, please feel free to contact our Private Client team.
This article has been produced for general information purposes and further advice should be sought from a professional advisor.