Let us help you get on the property ladder.

You want to buy your dream home but do not have the full deposit, we have a mortgage that allows you to buy a home with Co-Ownership.  Plus, with First Trust Bank you may not even need a deposit.

 

 

What is a Co-Ownership mortgage?

 

You buy a percentage of the property between 50% and 90%, and the rest is covered by Co-Ownership. You pay the mortgage on your part and pay rent on the rest.  Over time you can increase your percentage until you own the property.

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Features and Benefits of Co-Owning

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    We offer mortgages with no deposit required

    • If the mortgage is less than 75% of the value of the property, you do not have to pay a deposit. 
    • For example, if you want to buy a house costing £100,000 and Co-Ownership agree to fund 50% of it, then no deposit is required.

     

    % of total cost 

    Funded by

    Amount

    Rental portion

    50%

    Co-Ownership

    £50,000

    Mortgage

    50%

    First Trust Bank

    £50,000

    Deposit required

    None

    You

    £0

    • If the mortgage is more than 75% of the value of the property, you will have to pay 5% deposit.  For example, if you wanted to buy a house costing £100,000 and Co-Ownership agreed to fund 10% of it then a 5% deposit is needed.

     

    % of total cost 

    Funded by

    Amount

    Rental portion

    10%

    Co-Ownership

    £10,000

    Mortgage

    85%

    First Trust Bank

    £85,000

    Deposit required

    5%

    You

    £5,000

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    Up to £1,500 cashback

    Cashback applies as follows:

    Cashback amount

    Products available on

    £1,500

    New 5 Year Fixed Rate mortgage only

    Some exclusions apply: Further Advances, and loans less than £65,000.

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    No application or booking fees

    As a first time buyer, or a switcher, you will not pay an application fee, or a booking fee on fixed rate mortgages.

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    Free valuation

    Use our nominated valuer, and there’s no Valuation fee.

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    You can buy the entire property at a time that suits you

    Over time you can increase your ownership until you own 100% of the property. You can do this 5% at a time or all at once, whatever suits you.  Ask us for more information about this.

     

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    Who is eligible to Co-Own?

    • You can apply to Co-Ownership if you don’t currently own property or land and are not named on a property in Northern Ireland or elsewhere.
    • Any residential property in Northern Ireland (apart from one-bed apartments), up to a value of £165,000 can be considered.
    • Further details are available directly from Co-Ownership.

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How do I apply?

 

 

Apply to Co-Ownership www.co-ownership.org, or call them on 028 9032 7276.

 

co-ownership logo and link to their website

 

You can apply for a mortgage to fund the remainder of the purchase price. Call us on 028 9082 1655, request a callback or drop in to any First Trust Bank branch. 

Help and guidance

 

Our mortgage rates

Have a look at our mortgages rates

 

Frequently asked questions

Whatever your mortgage question, you can bank on us

 

Tariff of Mortgage Charges

Your mortgage fees and charges explained

Important information

First Trust Bank reserves the right to withdraw or amend products at any time. Loans are granted subject to an appraisal of the applicant's financial standing. Applicants must be 18yrs or over. Minimum mortgage amount £25,000. Lending criteria, terms and conditions apply. An independent valuation will be required. Your mortgage will be secured against the mortgaged property. Primary residence only.

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