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Need a little extra help to find your happy place?
There are lots of reasons why you might need a little help to buy a home – this is where a Co-Ownership mortgage can help.
Co-Ownership is an organisation that helps home buyers take their next step on the property ladder – whether buying for the first time or moving home. You don’t even need a deposit!
How does shared ownership work?
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Shared ownership means you buy as much as you can afford of your chosen home and Co-Ownership buy the rest – there is a maximum purchase price of £230,000 for new build properties (homes built within the last 2 years and never lived in) and £215,000 for other properties (homes that have been lived in before).
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You can buy between 50% and 90% share of the property, using a mortgage with Progressive – you pay a mortgage on your part and pay rent on the Co-Ownership share.
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When you’re able to, you can increase your share in the house bit-by-bit until you own it all, however there is no requirement for you to increase your share at all.
All purchases are subject to Co-Ownership approval.
How to apply?
Book a mortgage appointment with one of our dedicated mortgage advisors. Appointments are available via video or telephone or in one of our 11 branches. Saturday appointments are also available.
Your home may be repossessed if you do not keep up with repayments on your mortgage.
Eligibility
To borrow with Progressive Building Society, you must be over 18. Whether we provide credit will depend on your circumstances. Lending terms and conditions apply. Progressive Building Society only lends on properties within Northern Ireland.
Your home may be repossessed if you do not keep up with repayments on your mortgage.
Refer a Friend
Learn more about our referrals.