Step 1 - Is it possible to staircase?
When you contact arrangemymortgage.com we will ask you for some basic information including an estimated value of your property. We will provide you with a table (see example below) which shows you how far you could staircase and if additional funds are required.
Contact us here, and we will send you an example of this table and the information we require.
Step 2 - Agreement in principle
If it looks affordable to staircase, we will get you a mortgage agreement in principle based on the new share %. We will always check if it is cheaper to keep you with your current lender, or change lenders.
Step 3 - Get your property valued
Now that staircasing looks possible, the next step is to get a RICS valuation. Your housing association will have a recommended panel of surveyors and it normally costs around £200. As soon as the valuation is known, we will then update the table in step 1 (if the value is different) to make sure that staircasing still looks possible based on the RICS valuation.
Step 4 - Intention to proceed with your housing association.
You can now let your housing association know that you intend to proceed. They will have a form to complete and will charge an administration fee, usually around £220. Once your housing association have approved your valuation, we can then proceed to apply for your new mortgage.
Step 5 - Apply for your mortgage, instruct solicitors & complete on staircasing!
The final step of the process is where you apply for your mortgage and instruct your solicitor.
At arrangemymortgage.com we have an excellent remote service (via telephone / Zoom / Microsoft Teams) or we can meet face to face at one of our offices in London or Essex. We then take the stress of arranging a mortgage out of your hands, we:
- Research and find the most suitable mortgage for you - we are 'whole of market' mortgage advisers.
- Complete a full mortgage application on your behalf - after your mortgage appointment there is very little you need to do.
- Recommend a shared ownership specialist solicitor.
- Be your point of contact throughout the process.
- Review your protection and make sure it is adequate for your new share %.
- Provide you with on-going mortgage service when the product we arrange for you comes up for renewal.
Step 1 - Is it possible to staircase?
When you contact arrangemymortgage.com we will ask you for some basic information including an estimated value of your property. We will provide you with a table (see example below) which shows you how far you could staircase and if additional funds are required.
Contact us here, and we will send you an example of this table and the information we require.
Step 2 - Agreement in principle
If it looks affordable to staircase, we will get you a mortgage agreement in principle based on the new share %. We will always check if it is cheaper to keep you with your current lender, or change lenders.
Step 3 - Get your property valued
Now that staircasing looks possible, the next step is to get a RICS valuation. Your housing association will have a recommended panel of surveyors and it normally costs around £200. As soon as the valuation is known, we will then update the table in step 1 (if the value is different) to make sure that staircasing still looks possible based on the RICS valuation.
Step 4 - Intention to proceed with your housing association.
You can now let your housing association know that you intend to proceed. They will have a form to complete and will charge an administration fee, usually around £220. Once your housing association have approved your valuation, we can then proceed to apply for your new mortgage.
Step 5 - Apply for your mortgage, instruct solicitors & complete on staircasing!
The final step of the process is where you apply for your mortgage and instruct your solicitor.
At arrangemymortgage.com we have an excellent remote service (via telephone / Zoom / Microsoft Teams) or we can meet face to face at one of our offices in London or Essex. We then take the stress of arranging a mortgage out of your hands, we:
- Research and find the most suitable mortgage for you - we are 'whole of market' mortgage advisers.
- Complete a full mortgage application on your behalf - after your mortgage appointment there is very little you need to do.
- Recommend a shared ownership specialist solicitor.
- Be your point of contact throughout the process.
- Review your protection and make sure it is adequate for your new share %.
- Provide you with on-going mortgage service when the product we arrange for you comes up for renewal.
Read less
