Скачать или смотреть Buying more shares in a Shared Ownership home through Staircasing

Have you come across the term Staircasing and not sure what it really means? Don't worry - we can explain it! 👌

When you buy a Shared Ownership home, you buy a share of the property, usually between 10% - 75%. Let's say you purchased a 25% share of your home. You would pay a mortgage on the part you own and rent on the remaining 75% which the landlord would own

You might get to a point in your Shared Ownership journey where you would like to increase the stake you have in your home. This process is called Staircasing. All this means is that you are buying more of your home 🏡

You can buy more shares of your home at any time, from a minimum of 5%, working towards owning your property outright. If your home was built after 2020, you may also be eligible to buy 1% each year for the first 15 years of ownership - great, right?!

Many people choose to buy more shares because it means you cut down on monthly rent payments, there is a chance to grow your investment and owning more of your home can be a satisfying feeling

Want to learn more about the Staircasing process? Visit soresi.co.uk. If you have questions, our handy web chat connects you with an online agent who can help you in no time! ✨

#SOResi #Staircasing #SharedOwnership #Homeownership #FirstTimeBuyer