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18/03/2008
Co-ownership Closes Its Doors
Northern Ireland's Co-ownership Housing Scheme cannot cope with the growing number of people who want assistance in buying a home.
Alan Crowe, Chief Executive of Co-Ownership Housing today announced that no new applications can be taken for Co-Ownership at this time due to funding shortages.
He said: "It is with great regret that I announce that since close of business on Friday 14 March 2008, Co-Ownership is unable to accept new applications to help people wishing to buy an affordable home at this time."
The announcement came despite recent news that £205 million will be made available for social housing as a whole over the next three years, together with a series of changes announced to enhance the successful Co-Ownership scheme.
Mr Crowe confirmed funding of £15 million for the 2008/09 financial year starting in April but said that it was "simply not enough to meet any further applications for Co-Ownership".
He said that the scheme expected that it will be enough to deliver the 525 homes limit in the new Programme for Government, but stressed the potential is there for so much more.
He added: "Now is not the time to cut back on the number of Co-Ownership homes, the only real option for many hundreds of people looking to get onto the Northern Ireland property ladder.
"With just a little more public funding we believe Co-Ownership can actually increase the number of affordable homes while bringing down the cost per home so far as government grant is concerned to around 25%. We will continue to put the case for Co-Ownership funding in the strongest terms."
Today's announcement will not affect the 700 plus households who are currently in the middle of purchasing a home through Co-Ownership or the 4,000 households who currently own a Co-Ownership home.
(VB/JM)
Alan Crowe, Chief Executive of Co-Ownership Housing today announced that no new applications can be taken for Co-Ownership at this time due to funding shortages.
He said: "It is with great regret that I announce that since close of business on Friday 14 March 2008, Co-Ownership is unable to accept new applications to help people wishing to buy an affordable home at this time."
The announcement came despite recent news that £205 million will be made available for social housing as a whole over the next three years, together with a series of changes announced to enhance the successful Co-Ownership scheme.
Mr Crowe confirmed funding of £15 million for the 2008/09 financial year starting in April but said that it was "simply not enough to meet any further applications for Co-Ownership".
He said that the scheme expected that it will be enough to deliver the 525 homes limit in the new Programme for Government, but stressed the potential is there for so much more.
He added: "Now is not the time to cut back on the number of Co-Ownership homes, the only real option for many hundreds of people looking to get onto the Northern Ireland property ladder.
"With just a little more public funding we believe Co-Ownership can actually increase the number of affordable homes while bringing down the cost per home so far as government grant is concerned to around 25%. We will continue to put the case for Co-Ownership funding in the strongest terms."
Today's announcement will not affect the 700 plus households who are currently in the middle of purchasing a home through Co-Ownership or the 4,000 households who currently own a Co-Ownership home.
(VB/JM)
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A Northern Ireland housing association has announced it has secured £50m to help buyers take the first step on the property ladder. Barclay’s Bank and Bank of Ireland have announced they will each be providing £25m for private investment through Co-Ownership Housing over the next three years.
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A Northern Ireland housing association has announced it has secured £50m to help buyers take the first step on the property ladder. Barclay’s Bank and Bank of Ireland have announced they will each be providing £25m for private investment through Co-Ownership Housing over the next three years.
05 November 2021
10,000 Households Supported By Co-Ownership Scheme
The Co-Ownership scheme in Northern Ireland has reached the milestone of supporting 10,000 households on their home ownership journeys. Co-Ownership is a not-for-profit organisation that helps people get onto the property ladder who cannot do it by themselves.
10,000 Households Supported By Co-Ownership Scheme
The Co-Ownership scheme in Northern Ireland has reached the milestone of supporting 10,000 households on their home ownership journeys. Co-Ownership is a not-for-profit organisation that helps people get onto the property ladder who cannot do it by themselves.
11 November 2020
Thousands To Benefit From New Co-Ownership Funding Package
A new £145 million funding package has been secured to help thousands of people to afford to buy their own homes over the next four years, Communities Minister Carál Ní Chuilín. Co-Ownership is the Department's main delivery partner for affordable housing.
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13 September 2010
Landmark Co-Ownership Deal Welcomed
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The Stormont Social Development Minister Alex Attwood has welcomed a landmark 21,000th home purchased through the Co-Ownership housing scheme. The house is in Antrim, and belongs to young family Claire Scott and Richard Young, with daughter Katie.
07 October 2008
£35m Cash Boost For NI Co-Ownership
Northern Ireland's co-ownership scheme has received a major cash injection, which could help almost 200 first time buyers get on the property ladder by March next year. Housing Minister Margaret Ritchie (pictured) has welcomed the private backing from Bank of Ireland, which totals £35m.
£35m Cash Boost For NI Co-Ownership
Northern Ireland's co-ownership scheme has received a major cash injection, which could help almost 200 first time buyers get on the property ladder by March next year. Housing Minister Margaret Ritchie (pictured) has welcomed the private backing from Bank of Ireland, which totals £35m.
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Northern Ireland WeatherToday:The day will be very windy with strong to gale force westerly winds becoming occasionally severe along the north coast. Sunny spells will be interspersed with scattered showers. Maximum temperature 8 °C.Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
