Staircasing and shared ownership remortgages
Staircasing mortgages and shared ownership remortgages – whole of market choice
At Share to Buy, we can arrange a Shared Ownership remortgage for you, and have access to a wide range of Shared Ownership and homebuy mortgage lenders. This also includes shared ownership remortgages with staircasing (i.e. buying additional shares in the property). If you are looking to staircase right up to 100% ownership, depending on your circumstances you should have a choice of products from the whole mortgage market, not just shared ownership providers. Moreover, because we offer both shared ownership and outright purchase mortgages from the whole of the market, we are well placed to assist with shared ownership staircasing to full ownership. Just remember that if you are looking to staircase as part of your remortgage you will only be able to apply once you have had a valuation conducted on your property in conjunction with the housing association.
For most customers, staircasing is likely to involve a new, larger mortgage. Since 100% mortgages are generally not available, we have constructed a staircasing calculator which helps you to find out if you are likely to have enough equity in your home to purchase your desired share, and also provides an estimate of how much the new mortgage might cost. For those who are just commencing their research we suggest you start by using the staircasing calculator, or read on if you wish to make an application for staircasing mortgages. The Share to Buy website aims to provide the latest comprehensive information on staircasing and shared ownership remortgages.
Our broker fees
We charge a fee of £50 for submitting an agreement in principle application to a mortgage lender. A fee of £199 is payable when we submit a full mortgage application and supporting documentation to a mortgage lender on your behalf
Proceeding with your shared ownership remortgage
Ideally, if your application is a straight remortgage (i.e. new shared ownership deal with no staircasing) or if you are staircasing as well and have already had your housing association valuation, you are in a position to get moving straight away and should submit a no-obligation agreement in principle application. Please take care to provide further information about your case in the notes section, particularly if you are staircasing. In particular, in the question 'what type of mortgage are you looking for', please write 'staircasing'.
20th March 2017
Saturday 18th March saw over 4,400 attendees to London’s No.1 event for first time buyers, the London Home Show Spring 2017.
With 47 exhibitors under one roof, the event offered attendees the opportunity to speak to the biggest names in the first time buyer sector, including housing providers, financial advisors, legal experts and more. Attendees could register their interest in the properties and services on offer from exhibitors, and thousands of leads were generated over the course of the day.
15th March 2017
This guest blog comes from Southern Home Ownership, sponsors of the London Home Show Spring 2017.
Southern Home Ownership is part of Southern Housing Group; one of southern England's largest housing associations, with a growing portfolio of over 26,000 homes across London and the South East. We’ve been helping buyers onto the property ladder for over 30 years, making home ownership a reality for more than 4000 households.
15th March 2017
Our latest guest blog comes from L&Q, sponsors of the London Home Show Spring 2017. The blog, by L&Q Regional Sales Director, Lucy Chitty, looks at L&Q's new Shared Ownership awareness campaign, PricedIn Living.
9th March 2017
Today's guest blog is from Tim Seward Head of Property Sales at London Home Show Spring 2017 at Latimer:
First-time buyers struggling to raise enough cash for a deposit to buy a home of their own are increasingly turning to alternative ways of achieving the dream of home ownership.
Although shared ownership is by no means a new initiative – in fact it has been around since the early 1980s - it’s becoming more mainstream and an accepted part of the UK housing market. A recent report showed that the number of shared ownership purchases has risen by more than 130 per cent in six years.
Why not visit us at our next London Home Show, where you can meet Solicitors who specialise in Staircasing. Keep an eye out for announcements on our Share to Buy Facebook page in the Spring & Autumn.