Get a 5% deposit contribution OR we will pay your mortgage for a year on any two bed private sale purchase*

Shared Ownership

Buying a home with shared ownership provides an accessible way to buy your dream home, giving you a flexible, low-deposit step on to the property ladder.


How Shared Ownership Works

We are pleased to offer a selection of apartments at The Cocoa Works on a shared ownership basis. Buyers purchase a share of the property (from a minimum of 35%) and then pay rent on the remaining share. This makes shared ownership a fantastic way for first-time buyers to reduce the amount required for a deposit.

This could save you up to £88 per month based on renting a property in York

With shared ownership (also known as part-buy, part-rent) you buy a share of a property.

You’re required to buy the maximum share size you can afford between 10-75%. Then on the remaining share you pay a subsidised rent. You can then increase your share up to 100% and outright ownership whenever suits you.

Buying a share in a property, rather than buying it outright, means you need a smaller deposit and mortgage. This makes shared ownership a really affordable route into home ownership.

Once you’ve bought, you can increase your share in your home whenever you want – all the way up to owning it 100%. And you can sell at any time making shared ownership a great way to invest in your future.

Advantages of shared ownership

  • Start by buying a minimum share of just 35%.

  • Deposits are usually 5-10% of the price of your share.

  • You only need a mortgage to cover the price of your share.

  • Increase your share bit by bit all the way to owning 100%.

  • Stamp duty can generally be deferred until your share reaches 80%.

  • Lower running costs of a new-build home with the latest technologies, fixtures and fittings.

  • The rent on the share you don’t own is often less market rent (usually 2.75% of the full market value).

For further information, please register your interest and a team member will be in touch.

Why Rent When You Can Own In York?

Buying with shared ownership could be the step onto the property ladder you’ve been looking for. According to Zoopla, the Yorkshire and Humber average asking rent is £922 per calendar month*. With shared ownership, your outgoing could be £834 a month for a one bedroom apartment at The Cocoa Works.

This example demonstrates a potential outgoings saving of £88 a month, for your first step on the property ladder.

* Average Yorkshire and Humber rent is based on Zoopla In Your Area tracked, January 2023.

Day-to-day costs may also be lower with new-build homes. They require less maintenance and tend to be more energy-efficient than existing homes. Your energy bills could also be lower due to more energy-efficient design features.

Monthly shared ownership example is based on the combined cost of:

Mortgage monthly payment when purchasing the minimum 35% share of a one bedroom apartment at The Cocoa Works based of a full market value of £205,000 with a 5% minimum deposit and five-year fixed rate mortgage of 5.25%. Monthly rent calculated on 2.75% annual cost of the remaining share value. Service charge estimate of £120 per month. Mortgage rates are indicative only. Mortgage arrangement fees, deposit and moving costs are not included in outgoings total.

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Contact Us

Our Marketing Suite and Show Apartment is open by appointment only. For further information and to book an appointment, please contact the team or complete the enquiry form.

01904 390301
The Cocoa Works Marketing Suite,
Haxby Road, York, YO31 8TA