Buying your first home in Northern Ireland: what's different.

Co-Ownership

Northern Ireland's shared ownership scheme, run by Co-Ownership Housing. You buy a share (50% to 90%) of a home up to a price cap and pay rent on the rest, and it needs no deposit. Over half of NI first-time buyers with help use it. You can buy more of the home later. Check the current price cap and eligibility on their site; the cap has risen several times.

Stamp duty

Same as England: first-time buyers pay nothing on the first £300,000, 5% from £300,000 to £500,000, no relief above £500,000. With NI prices, most first-time buyers pay nothing. Calculator.

Rates, not council tax

NI has domestic rates, billed by Land & Property Services, based on the capital value of the home in 2005. Ask for the rates bill on any home you view; it is often several hundred to a couple of thousand pounds a year, and lenders count it in affordability.

Lenders

Most UK lenders lend in NI, but not all, and some have different criteria or exclude certain property types. Local lenders and building societies are worth including. A broker who works in NI knows the panel; our broker page has one.

The legal process

Similar to England: solicitor, searches, enquiries, exchange, completion. NI has its own Land Registry and some property is still in the older Registry of Deeds system, which can add time. Property certificates from the council replace some England-style searches.

House prices and deposits

NI is among the more affordable parts of the UK. A 10% deposit on a typical first home is often £15,000 to £25,000, which makes the Lifetime ISA bonus proportionally more valuable.

Other help

• Lifetime ISA works in NI as everywhere.
• The 95% mortgage guarantee scheme covers NI.
• Housing Executive and housing association tenants may have a right to buy (House Sales Scheme).

A note on the numbers. Thresholds, schemes and typical costs are correct as far as we know at the time of writing and are for England and Northern Ireland unless we say otherwise. Rules change and lenders differ. Check the current position, and get advice from a qualified broker before you commit.