Shared Ownership Staircasing with a partner

Gleniw

Hello All,

I currently own 35% share of my shared ownership property solely and would like to staircase. I wanted to know if my new partner and I can get a join mortgage to buy a higher percentage together (ideally 100%) or if this would be an issue with the housing association?

Thanks in advance for your help

Glen

HampshireH

Does you Landlord allow 100% ownership? 

The Housing association are unlikely to have any issue with your partner contributing to the property but they must fit the criteria for shared ownership. It will also be dependent on if you can get a mortgage for the property etc.

Don't forget the associated fees you need to pay.

Here is a link to Radians answer to your question. I appreciate they may not be your landlord

https://radianhomes.co.uk/changing-shared-owners/

Gleniw

Thanks for the reply. The link is very helpful. The lease states we can buy 100% and doesn’t mention any restrictions. The mortgage is already in place. I wasn’t sure if we’d have to add to the current lease before proceeding if it’s then irrelevant due to the fact we’d have 100% and therefore no connection with the Housing Association. 

KelzeJ

Hi Gleniw, 

I am in the same position as you. I solely own a 35% share of a DIYSO shared ownership property. I am now married and would like to staircase up to 100%. Can i kindly ask:

a) Did you manage to get your partner added to the Lease?  and if so , how difficult or not was it?
b) did your household have to meet the eligibility criteria of earning no more than £90K in London/ £80K outside of London?
c) was you approved to jump from 35% straight to 100% ownership in one go?

Many thanks