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The shared ownership scheme offers an excellent opportunity for first-time buyers and home movers in York to step onto the property ladder without purchasing the full value of a property outright or securing a mortgage for the entire amount.
This government-backed initiative allows you to buy a share of the property in York, typically ranging between 25-75%, though it can be as low as 10% in certain cases.
For the remaining share, you will pay rent to the housing association or builder who owns that portion.
The agreement between you and the landlord will usually include an option to purchase additional shares through a process known as staircasing.
This can eventually lead to full ownership. Depending on market changes and property value, a further advance might be needed.
A mortgage broker in York can guide you through the specifics of this process.
If you’re considering a shared ownership property in York, specific criteria must be met. You need to be over 18 years old and have a household income of no more than £80,000 annually.
Moreover, you must be unable to afford the full deposit or mortgage payments for the total property value in York.
This means you’ll need a 5% deposit for the share you are purchasing, not for the full property price.
Eligible applicants include first-time buyers, previous homeowners who cannot afford a new home, individuals forming new households, and those already in a shared ownership property in York looking to move.
A mortgage advisor in York can help assess your eligibility and suggest alternatives if another scheme better suits your needs.
Homeowners in York who are selling a property must have a formally accepted offer, known as “sold subject to contract,” and a memorandum of sale detailing the agreed price.
Before completing a shared ownership purchase in York, the sale of your current home must be finalised.
For those over 55, shared ownership in York is still an option, and the scheme can also accommodate long-term disability needs, such as ground-floor living requirements.
Additionally, armed forces personnel and veterans are given priority access to shared ownership properties in York.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
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Florence Williams
Very helpful, friendly and efficient team. Thank you for making the whole process as smooth as possible
4 Dec 2025
Loren Kinera
Tom made the entire process easy. He communicated throughout and was very quick! We will definitely be using him again and would recommend to any friends and family.
25 Sep 2025
Sarah
Absolutely brilliant service from Matt and Lizzie - both friendly , efficient and very helpful ! Highly recommend :)
10 Apr 2025
Xander Shooter
Malcolm and Lizzi and the rest of the team have provided first class service. Talking us through the mortgage process and assisting anywhere they could with the house buying world. Two phone calls and two video calls and boom mortgage done leaving no question unanswered. Absolutely brilliant service. Almost looking forward to remortgaging in a few years. 10/10 would recommend to anyone especially first time buyers.
4 Apr 2025
Neil Whitehead
Great service - personable, knowledgeable and efficient.
6 Mar 2025
Coral Berry
Very friendly and helpful staff. Fast completion and made getting our first mortgage much less stressful. Highly recommended!
23 Feb 2025
Katy Town
Brilliant service from Tom and Paula. They always kept us up to date and answered any questions we had. Paula kept things moving and in touch with the mortgage company to make sure everything ran smoothly.
3 Dec 2024
Jack Bowley
Massive thank you Matt Collinson and the UKMoneyMan team. They were the first company we reached out to for mortgage advice, and the warm welcome started right at the start. We've got all the advice and help we needed, and Matt worked with what we had and gave us what we believe to be the best deal possible. He's been absolutely wonderful dealing with and I can recommend his services to anyone who's in need of a mortgage broker. I'd give more stars if I could! Thank you Matt.
25 Nov 2024
Josh Broadbent
Malcolm and Amy are fantastic at what they do. It’s refreshing to deal with such competent & efficient people. Thank you for making the First Time Buyer process that little bit easier! Will recommend to friends & family.
23 Oct 2024
Daniela Saunders
Great service, incredibly helpful and quick with everything. We're FTB and they were amazing for us, got our mortgage within 3 days and everything was seamless
21 Oct 2024
During your free initial consultation with a mortgage advisor in York, they will analyse your income and expenses to assess your eligibility for a Shared Ownership mortgage in York.
Additionally, they will evaluate your mortgage affordability to ensure a comprehensive understanding of your financial situation.
Our team will meticulously search through 1000s of mortgage products to locate the most fitting deal tailored to your needs.
Our panel consists of both high street and specialist lenders, meaning that we can find the most suitable deal for you.
Upon the acceptance of your purchase offer, we will proceed to submit your comprehensive mortgage application along with all the necessary supporting documents to the lender.
From this point in the process, we will hand you over to our team of case managers, who will work with you until you get the keys to your new home!
Our commitment goes beyond just finding the most suitable mortgage deal for you. We will make sure that you are aware of the insurance policies that ensure protection for both you and your loved ones.
You are not obligated to take out insurance alongside your mortgage, it is a recommendation.
Having worked in the industry for over 20 years, our expert mortgage advisors in York have a good reputation for helping home buyers and homeowners in York get onto the property ladder.
Applicants who are looking to get a mortgage under the Shared Ownership in York. During your free initial mortgage appointment, one of our members will go into more details about the scheme and check your eligibility.
Here at Yorkmoneyman, the customer is the heart of this company, which is why we provide high quality, service to all new and existing customers.
Our team will always provide a professional service that is flexible to the customer. This is reflected through our appointment availability through offering appointments 7 days a week from early until late at night.
You can book a free initial appointment at a time that works around your lifestyle, subject to availability.
Our mortgage advisors in York work 7 days a week until late so they can be there around a time that suits your needs.
Here at Yorkmoneyman, we have worked alongside a vast amount of high street and specialist lenders. Helping us provide a range of products, we can find you the most suitable deal for your situation.
As a mortgage broker in York, our 20 plus years in the mortgage industry has provided us with extensive experience of a range of mortgage situations.
Our Home Buying App is a digital mortgage coach designed to help you save up, plan, and track your home buying journey – whether you’re buying your first home, or fancy a move.
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Yorkmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Yorkmoneyman 2009–2026
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Yorkmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Yorkmoneyman 2009–2026
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