Support available to help Newry residents get on the property ladder

Posted by
info@newrytimes.com
Monday, September 11th, 2017
Community

Newry, Mourne and Down District Council Chairperson, Councillor Roisin Mulgrew, recently met with Co-Ownership Housing Director of Customer Services, Glynis Hobson, to learn more about the work of Co-Ownership Housing during its Shared Ownership Month this September.

 

 

The not-for-profit organisation is encouraging local people to benefit from the scheme, which can help them buy a home for less than the price of renting, and is providing a boost to the local economy by getting people onto the property ladder.

The demand for shared ownership housing is rising significantly in Northern Ireland, with Co-Ownership Housing revealing that applications have increased by 7% in the past financial year.

Throughout the organisation’s almost 40-year history, it has successfully supported over 26,000 households to purchase the home of their choice and has funding in place to support a further 900 prospective home-owners in Northern Ireland, including those within the Newry, Mourne and Down district, get on the property ladder by March 2018.

 

 

At present, over 8,000 homes across Northern Ireland are currently Co-Ownership homes.

Mark Graham, Chief Executive at Co-Ownership Housing, said, “It is our goal to support as many people as we can to get on to the property ladder in the Newry, Mourne and Down District Council area and across Northern Ireland.

“We know that struggling to raise deposits and lower incomes in Northern Ireland is fuelling demand for Co-Ownership. Buying through Co-Ownership is cheaper than renting, and more affordable than placing a significant deposit on a property. Additionally, customers can buy Co-Ownership out at any time through the ‘staircasing’ process which we actively encourage.

 

 

He added, “Gradually increasing a Purchaser’s share in their chosen property through staircasing not only guides that individual toward complete ownership of their home in an affordable way, but long-term this helps us to support more people make that first step toward home-ownership.”

Co-Ownership Housing has a range of online resources available on their website including literature to download for further information, a budget planner and a repayments calculator.

 

 

For more information, visit co-ownership.org or call 02890327276. You can also visit the Co-Ownership Housing office on Murray Street, Belfast, where advisors area available to help with any queries.


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