Why staircase?

Staircasing can help you take another step towards owning more of your home.

The main benefits are:

• you own a larger share of your property;
• the rent you pay on the remaining share usually reduces;
• you build more equity in your home;
• you build more equity in your home;
• if you own 100%, you will no longer pay rent on the property.

You may still need to pay your mortgage, service charge and other home ownership costs.

What you can do with Stairpay

Once you activate your account, Stairpay can help you:

• estimate the current value of your home;
• explore how much more of your home you may be able to buy;
• see how your rent could reduce if you buy more shares;
• compare different staircasing scenarios;
• plan ahead if you are not ready to staircase yet;
• understand the steps involved before making a formal instruction.

How staircasing works

The exact process can depend on your lease, your finances and the share you want to buy. In most cases, the journey includes:

1. Check your options

   Use Stairpay to explore what may be affordable and how your monthly costs could change.

2. Get Advice

   You may want to speak to your mortgage lender or an independent mortgage adviser before deciding how much more to buy.

3. Value your home

   The price of the extra share is usually based on the current market value of your home. You’ll need a formal valuation before you proceed.

4. Submit your staircasing instruction

   When you are ready, you can begin the formal staircasing process.

5. Complete the legal process

   You will usually need a solicitor to complete the purchase of your additional share.

Not ready yet? You can still plan ahead

You do not need to make a decision straight away.

Many shared owners use staircasing tools before they are ready to proceed, so they can understand what may be possible in the future. Stairpay can help you look at different scenarios and plan around changes such as mortgage renewal, savings, income or property value.

Starting early can help you feel more prepared when the time is right.

Important things to know

Before you staircase, you should check your lease and understand the costs involved. These may include:

1. valuation fees;

2. legal fees;

3. mortgage fees;

4. Southern Housing administration fees;

5. Stamp Duty, depending on your circumstances.

The amount you can buy, and whether you can staircase to 100%, will depend on your lease.

StairPay can help you explore your options, but it does not replace independent financial, mortgage, legal or tax advice.

How your information is used

To help you activate and use your Stairpay account, we may need to share basic information about you and your home with Stairpay.

Your information will only be used to support your staircasing journey and will be handled in line with our privacy policy and Stairpay’s privacy policy.

Start planning your staircasing journey

Use the form above to activate your free Stairpay account and explore whether buying more shares could be right for you.