I wrote this article in 2021 for a Mortgage Broker, to be featured on a property website. It still retains top 3 positioning on Google for the selected keyphrases.
Shared Ownership staircasing – what are my options?
Find out about buying more shares in your part-buy part-rent home
For buyers unable to enter the housing and property market by ‘conventional’ means, when Shared Ownership was introduced by the government in the 1980s it became a viable alternative route to home ownership.
By giving first time buyers the chance to purchase a share in a new build housing association property, Shared Ownership helped many buyers onto the property ladder at a time when house prices were increasing, and first time buyers were struggling.
In 2021, Shared Ownership is still a popular route into the property/homeowner market and many first time buyers favour this option of buying 25-75% of a property, paying rent on the rest and eventually staircasing their way to (in some cases) full 100% ownership.
Here, Milton Keynes mortgage brokers Visionary Finance help you to negotiate the staircasing maze and answer the main questions we get asked along the way.