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'.
31st December 2016
For those looking for Shared Ownership homes in the south of England, we've had more recent additions which may be of interest.
Click the following link to read on and see these new Shared Ownership houses and apartments which were added to our website in late December. Read on
Click here to begin your search for a shared ownership property in any area.
5th December 2016
While you are looking for a suitable property and going to viewings, there is one task that you can sensibly start, so that when you have been offered a property, your mortgage application is not delayed. All mortgage applications will require that you provide documents as part of the process so start getting your documentation ready.
7th November 2016
We've teamed up with WhatHouse? to bring you Your Guide to Shared Ownership. Inside you’ll find all you need to know about the scheme: whether you are eligible, the process of finding and purchasing a Shared Ownership property, the pros and cons of Shared Ownership and much, much more.
20th October 2016
Read our latest blog from our Mortgage Expert Stephen Dwelley. In this blog Stephen answers the frequenlty asked questions from first time buyers trying understand how much they can borrow for a mortgage and what is affordable.
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.