Good news for those trying to make their way onto the property ladder in Northern Ireland but are struggling to save up an adequate deposit.
The NI housing scheme has secured £165 million which will be used to provide help to those who need it. It’s estimated that the investment will provide financial support to more than 4,000 people and help towards the provision of 2,800 homes across Northern Ireland.
£100 Million of the investment will be provided by the government’s department of communities and £65 million has been raised through investment form the Bank of Ireland.
Up until now co-ownership has provided financial support to more than 26,000 homes across NI and this number is set to rise thanks to the new investment.
Co-Ownership is primarily aimed at first time buyers who are attempting to get onto the property ladder. The fund allows the applicant to purchase between 50% and 90% of the properties value negating the need for a deposit. The owner can then increase their share in the property as they clear off the mortgage debt.
If you would like to apply for a co-ownership mortgage contact us today. We service clients across all of Northern Ireland and we are waiting to help you.