Why Co-Ownership Can Cost Less Than Renting

Published 13 Aug 2025

If you’re currently renting, chances are a good portion of your income is going towards someone else’s mortgage. What if you could put that money towards owning a place of your own and end up paying less each month?

That’s exactly what many buyers are finding with Co-Ownership, Northern Ireland’s shared ownership scheme. Designed to help people get on the property ladder, Co-Ownership allows you to buy the share of a home you can afford and Co-Ownership covers the rest.

How does this make things more affordable? Let’s break it down:

• You take out a smaller mortgage than if you were buying it all, which means lower repayments each month.
• You pay rent to Co-Ownership on the share they own, but it’s set at a very low rate, just 2.5% of their share’s value, which works out at £25 per £1,000.
• This rent is cheaper than private rent and with reduced mortgage repayments, your total monthly outgoings could be lower than if you’d bought the home outright.

In Co-Ownership’s 2025 Social Impact Report:

• 78% of customers said their mortgage and rent combined was either the same or cheaper than what they were paying in rent before.
• 79% said buying through Co-Own made them feel more financially secure and safe.

At a time when private rents are continuing to rise across Northern Ireland (a recent report produced by PropertyPal noted that the average rent across N Ireland was around £976p/m), the ability to step onto the property ladder with reduced monthly costs can be life-changing. You’re not just saving, you’re investing in your future.

Want to see what your payments could look like?

If you’ve spotted a home you love on PropertyPal, try out Co-Ownership’s Repayment Calculator. It only takes a minute and could help you see just how affordable buying might be.