Staircasing
If you would like to talk to us about buying a bigger share in your home, please call our Sales team on 01733 385066, complete our quick enquiry form or email sales@crosskeyshomes.co.uk. The team are also available via Live Chat from 9am until 5pm, Monday to Friday
Buy a bigger share in your home. The more you own, the less you pay on fees each month.
The process is simple and we’re here to help throughout.
The cost of your additional shares are based on the current market value of your home. An independent valuation will tell us both what your home is worth at the moment.
Other costs to consider include:
-
Solicitors fees
-
Mortgage fees
-
Surveyor costs
-
Stamp duty – your solicitor will tell you whether this will apply.
We call it ‘staircasing’ because it might take a couple of steps until you own your home outright. Each time you staircase, you’ll have to pay for a solicitor and a valuation so it’s worth buying the biggest share you can each time.
Call the Sales team on 01733 385066 or email sales@crosskeyshomes.co.uk.
Before you get in touch
- Make sure your rent and service charge payments are up to date, we will not be able to go any further if you are in arrears
- Have details about any substantial improvement work you’ve done (i.e. adding a conservatory). If you’ve done work which adds value to your home, we will make sure you benefit from it. Decorating is not considered a home improvement.
- Have an idea of how much you would like to buy. On a small number of our developments there are some restrictions on how much more you can buy, which will be detailed in your lease and should have been explained by your solicitor when you first purchased.
What’s involved?
The process is simple. We all do some paperwork and you own a bigger share in your home. Completion times can vary, but we will keep you to up to date with progress every step of the way.
- You need to arrange an independent valuation of your home by a certified RICS surveyor. Your local surveyors can be found at www.ricsfirms.com. (The law requires an up to date RICS valuation to be in place throughout the process. Valuations are only valid for three months and will need to be renewed until the sale completes. It is worth asking your valuer what their costs are for desktop refreshes and full revaluations so you can plan ahead.)
-
You will be referred to one of our financial advisers who will confirm you have the funds you need.
-
You appoint a solicitor and let us know their details. We have created a panel of recommended solicitors. We know from experience how important it is to work with companies who have an in-depth knowledge of the shared ownership product to process your sale as quickly and efficiently as possible. You can choose any solicitor you prefer, but using a solicitor who is already familiar with shared ownership can help things run smoothly.
-
Your mortgage provider will give you a mortgage offer. Again, we have a recommended panel who are experienced at working with shared ownership sales.
-
The solicitors liaise before we all sign the paperwork and confirm a completion date.
- We update our systems to reflect your new percentage share and your updated rent payments come into effect.
To get started, contact our Sales team on 01733 385066, email sales@crosskeyshomes.co.uk or complete our staircasing enquiry form: