As a shared owner, staircasing lets you more shares in your home. The more you own, the less rent you pay to us. If you’re thinking about buying more of your home or want to understand your options better, Stairpay could help you.
What is Stairpay?
Stairpay is a free online platform that gives you step-by-step guidance about shared ownership and staircasing and helps you manage the practical parts of your staircasing application. Our dedicated webpage below explains everything you need to know.
How Stairpay can help you
Before you think about buying more shares, Stairpay can help you understand your current position.
It lets you track and manage your home equity, mortgage and related costs, so you can see how the different parts of your shared ownership home fit together. You can also use the 24/7 smart assistant for answers to questions about your home, lease, charges and repairs.
This can be useful whether you’re ready to start staircasing now, thinking about it in the future, or just want to understand what your options are.
Is staircasing right for you?
Staircasing is a legal process and the cost of buying more shares is based on your home’s current market value.
When deciding whether it’s right for, you’ll want to think about your current situation, your mortgage, and plan for future costs. This can give you a clear picture of what your options could look like and help you feel confident about the decision you make.
Stairpay gives you the tools to work out your financial position. You can use it to think about future affordability, understand next steps and consider whether buying more shares in your home is right for you.
Here to help you feel more confident
If you decide that staircasing is right for you, Stairpay takes you through the steps online. Here, you can:
- create a free account
- securely upload your documents
- keep track of what you need to do next.
It won’t replace the legal process; your solicitor and our solicitor will still manage most of the transaction. But it’ll make the journey feel clearer by helping you understand what’s involved and keeping important information together.
Other ways Stairpay can help you
You don’t need to be ready to staircase to benefit from Stairpay. You can use it to learn more about shared ownership, understand how your share and rent work together, and find out what homeownership could look like for you over time.
Whether you’re currently planning to buy more shares, checking what might be affordable in the future or just want to learn more, Stairpay can help you make more informed decisions about your home.
Want to discuss your options?
Create your free Stairpay account below to begin exploring the platform. If you’d like to talk to someone about staircasing, please call us on 0345 60 20 540 to speak to our Housing Advice team, or email homeownership@midlandheart.org.uk.
