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Statement explaining that no new applications can be taken for Co-Ownership at this time due to funding shortage.

In response to today’s statement by the Minister for Social Development, Margaret Ritchie, announcing an imaginative package of proposals to deliver more affordable homes quickly, Alan Crowe, Chief Executive of Co-Ownership Housing states:

“This is a comprehensive package with a huge amount of potential for Northern Ireland.  The Minister has taken a radical new approach to tackling affordability problems and we are delighted to be playing a key role in helping more people onto the property ladder.

Responding to today's Ministerial announcement of an additional £19m in 2007/08 from the December monitoring round, Alan Crowe, Co-Ownership Housing's Chief Executive, says

“This is a welcome and much needed boost for Co-Ownership buyers and should deliver an extra 200 homes over the next 3 months. We are the only show in town at the moment for many people trying to get onto the housing ladder, and the £19m reflects the continuing high demand for our services.”

Co-Ownership Housing launches its new 3 year delivery strategy and immediate action plan for affordable home ownership.

Co-Ownership Housing has welcomed recommendations from the Review into Affordable Housing (Semple Report), published today. The Report endorses many of Co-Ownership’s key proposals on its future role and activities in a changing housing market, made as part of the Review’s consultation process.

"You can buy a property with Co-Ownership on half the earnings expected by a mortgage lender", says Alan Crowe, Co-Ownership Housing's Chief Executive.

"These days it may take a salary of £55,000 to get a mortgage on a £225,000 property. But with Co-Ownership the same property could be within reach of someone earning from £20,000 upwards."

The top price for properties to purchase with Co-Ownership has now increased to £225,000 depending on where you live.

Co-Ownership is running an awareness programme to encourage people to think about playing a part in governance of the organisation. 

We welcome the Review of Affordable Housing under the direction of Sir John Semple.