Staircasing with Share to Buy
Share to Buy can help you find a staircasing mortgage
Our team has huge experience of assisting all Shared Ownership clients, and we have helped many people to staircase right up to full ownership. When it comes to remortgaging to raise the finance for buying more shares, we have access to the whole of the market and a wide range of lenders offering remortgages for Shared Ownership (bear in mind that if you are staircasing to 100% ownership you will have greater choice).
We charge competitive broker fees compared to many intermediaries who specialise in this field (full details below) and for every mortgage we arrange, we donate £10 to the homeless and have to date raised thousands of pounds for those with no home at all.
- To assess your agreement in principle application against lenders specific criteria and affordability calculations: No FEE
- To check bank statement and payslip against lenders requirements and submit an agreement in principle application to a mortgage lender: FEE £50
- To check full application, all supporting paperwork and submit a full application to the lender and then liaise with the lender as necessary: Fee £199
- Please note that these fees are not refundable.
The staircasing process with Share to Buy
There are three main options for getting your staircasing journey underway with Share to Buy:
If you just beginning your research, you are likely to want have some understanding of how much the monthly payments might be if you were to buy more shares. Our Staircasing Calculator can provide a robust estimate of how much the new mortgage might cost (including the revised rent figure if you are staircasing to less than 100% ownership).
If you have had a valuation of your property, formally commenced the staircasing process and want to know that you could get a mortgage for the new amount you need, you can submit an agreement in principle application to the Share to Buy mortgage team. There is no obligation to apply for a full application but if you receive an agreement in principle you can then proceed to applying to complete the mortgage. Please note: you should write ‘staircasing’ where the form asks for the type of application you are making.
Finally, if you are ready to staircase and looking for a Shared Ownership remortgage to help raise the finance required, you can simply contact our experienced mortgage team to discuss your case.