PropertyPal partners with Co-Ownership to help more buy a home

PropertyPal, Northern Ireland’s property website, recently announced a new partnership with Co-Ownership, the province’s shared ownership provider. In a move that emphasises the need to make purchasing a home more accessible, PropertyPal has integrated a toggle onto its website allowing potential homeowners to easily filter and identify properties that could be eligible for Co-Ownership.

The partnership highlights the ambition of both organisations as they support as many people on their journey to home ownership as possible, as Jordan Buchanan, Chief Operating Officer at PropertyPal explains.

PropertyPal

He said, “We are incredibly proud to announce the arrival of our new website feature. We’re really pleased by how it has performed thus far – it’s clear that there is an appetite to learn about Co-Ownership. By offering a dedicated filter we can ensure that potential homeowners can easily access information about eligible properties and better understand the options available as they start on their journey to home ownership.”

Co-Own, Northern Ireland’s shared ownership product, sees successful applicants choose a home up to the value of £190,000 anywhere in Northern Ireland. Co-Owners buy the share of the home they can afford between 50 per cent and 90 per cent through a mortgage lender and Co-Ownership covers the remaining share. As they become able to, co-owners can increase their share bit-by-bit until they own all the home.

Since 1978, the model has been supported by the Department for Communities and has helped over 30,000 people make the dream of home ownership a reality, with 10,000 co-owners currently based across the province.

Glynis Hobson, Director of Customer Services at Co-Ownership, said, “It’s crucial that we continue to set the agenda for alternative routes to home ownership, particularly in today’s climate as the market and the economy present various new challenges for people to contend with. We currently support about ten per cent of the first-time buyers’ market year-on-year and as our collaboration with PropertyPal takes shape it’s already having a significantly positive impact, with us reaching even more people that need our support to own a home of their own.”

To explore properties for sale in Northern Ireland that may be suitable for Co-Ownership visit propertypal.com. It’s essential to speak with a mortgage advisor and apply for Co-Ownership to ensure that both you and the property meet the necessary criteria.