What is it?
Ownhome is provided by a partnership between Places for People and The Co-operative Bank. With Ownhome home buyers will need to buy a minimum of a 60% share in the value of their property with a mortgage from The Co-operative Bank a 40% share coming as an Ownhome equity loan from Places for People.

After the first 5 years of ownership a fee will be payable on the Ownhome loan - starting at a fixed rate of just 1.75% interest per year for the next five years, and then increasing to 3.75% interest per year from year eleven. Buying the remainder would not incur any premium or extra charges on the mortgage, and customers can choose from a range of competitive deals including fixed rate and tracker options.

Customers can apply for Ownhome directly or through Housing Options.