Cost of Living

We understand the rising cost of living may be putting a strain on households with many people having to find ways to make their money stretch further.

If you have any concerns about paying your Co-Ownership rent, please contact our customer service team on 02890 327276 who are available to offer guidance and support. We will always work with you to make a suitable arrangement. We have given a commitment, like the lenders in the Mortgage Charter that we will not evict anyone from their home for rent arrears without their consent within one year from the date of their first missed payment.

If you are having difficulties making your mortgage payments you should contact your lender to discuss your options. The government has recently announced a Mortgage Charter by which lenders have agreed to support borrowers. The Charter can be found here.

If you wish to change your mortgage as part of the Mortgage Charter or otherwise such as switching to an interest only mortgage for six months or extending your mortgage term, you should let us know by calling us on 02890327276 or emailing us at hello@co-ownership.org. If you wish to make a bigger change to your mortgage such as a further advance or to change lender you will need our permission to do this.

Listed below are other organisations’ and resources which may help you make your money stretch further.

Help with housing costs

Housing Rights has been helping people in Northern Ireland deal with housing problems since 1964. They exists to help people who are in housing need in Northern Ireland and do this in 3 ways:

• providing direct advice and representation to members of the public
• developing training courses and information tools to help other advice agencies and
• bringing their customers’ experiences to the attention of politicians and decision makers and advocating for changes in policy, legislation and practice

If you are struggling with your housing costs, you can contact them by visiting their website or by giving them a call on 028 9024 5640.

Boosting your income

With the rising cost of living putting increased pressure on many people’s finances, it’s important to check whether you could be eligible for additional financial support, even if you’re in full-time employment. It’s quick and easy to check if you are entitled to any help using the tools below. To find out if you could be entitled to any additional, please visit either ‘Entitled to’ or ‘NI Direct.

Help with savings

Take the worry out of unexpected bills by signing up to Government backed Help to Save scheme. This is a savings account for people who receive Working Tax Credit or Universal Credit that pays you a bonus of 50p for every £1 you save over 4 years. Find out more about the Help to Save scheme by clicking here.

Understand what you are spending your money on

There are many free tools to help you keep control of your money and spending, with useful tips on where you can save money based on your personal circumstances and spending habits. Check out Snoop Money Management and Money Helper.

Improving your finances

The Money and Pension Service (MAPS) help people – particularly those most in need – to improve their financial wellbeing and build a better, more confident future. Working collaboratively across the UK, MAPS make sure customers can access high-quality money and pensions guidance and debt advice throughout their lives, how and when they need it. To find out more click here.