Ulster Bank continues significant support for Co-Ownership Housing

Picture caption: Derek Wilson, right, Ulster Bank's head of lending products, marks the bank's continuing support for the Co-Ownership Housing scheme with Alan Crowe, Co-Ownership chief executive. Ulster Bank has accounted for over 80% of Co-Ownership mortgages in Northern Ireland in the past year and says that it is committed to continuing its strong support for the important initiative.

Ulster Bank, which has accounted for over 80% of Co-Ownership mortgages in Northern Ireland in the last year, is continuing its support for the important shared equity scheme.

Welcoming Ulster Bank's continued support, Co-Ownership Housing's chief executive, Alan Crowe, says: "Ulster Bank's range of mortgages for Co-Ownership customers continues to be the popular choice. Ulster Bank has accounted for a very significant proportion of Co-Ownership mortgages completed in Northern Ireland during recent years, enabling hundreds of first time buyers to purchase."

Co-Ownership Housing has been running very successfully since 1978 and so far has helped more than 21,500 households to purchase the homes of their choice through Northern Ireland's flagship shared ownership scheme.

Purchasers take as large a share as they can afford to start with, between 50% and 90% (known as the 'starter share'). Once on the housing ladder, they can then sell their home and move on, or stay put and increase their share.

Derek Wilson, Ulster Bank's head of lending products, says: "Co-Ownership is an extremely important route into homeownership in Northern Ireland for many people, and we are very pleased to continue to work in conjunction with the scheme. We offer a broad range of products to Co-Ownership purchasers, which have proven popular and have supported many households."

"Ulster Bank remains strongly committed to the mortgage market in Northern Ireland and continues to make money available for mortgages across a wide range of products to help support demand. This includes for home movers and those remortgaging," Mr Wilson adds.

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