Shared Ownership Staircasing Calculator
If you already own a Shared Ownership property and want to increase your share - possibly all the way to 100% - then this process is called 'staircasing'. Learn more about staircasing
Our Shared Ownership Staircasing Calculator can be used to find out if you are likely to have enough equity in your home to purchase an increased share, and also provides an estimate of the monthly repayments of the revised mortgage and rent.
If you are considering staircasing it is advisable to speak to a specialist mortgage broker.
Share to Buy are not financial advisors, and this tool is to be used for research purposes only.
The minimum ‘equity’ required to staircase depends on the lending criteria of mortgage providers prepared to offer staircasing remortgages. Our confirmation that you should or should not be able to staircase assumes that you could obtain a mortgage with such lenders.
This Staircasing Calculator cannot be used as a guarantee of obtaining a mortgage and is simply confirming whether the amount of equity you possess could theoretically support staircasing to a higher share.
Property valuation
Our staircasing calculator can provide an estimated value for your property. The estimated value is supplied by PropertyData and is to be used for research purposes only and may have a margin of error. If you wish to staircase you will be required to get a valuation from an RICS accredited surveyor. Your housing provider may require the surveyor comes from their panel of approved firms.
Our monthly cost estimate
In estimating the likely monthly cost of any new mortgage, we run the information you enter into the calculator via our database of mortgage rates generally available in the market, and use this data to find an illustrative mortgage rate that reflects the new share purchased.
This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you because you would have to take into account a range of items when choosing a mortgage, such as fees.
Before initiating staircasing speak to a specialist staircasing mortgage broker.
If you would like to discuss staircasing with a specialist mortgage broker click here.