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Staircasing Calculator

Staircasing Calculator

This calculator gives you an indication of how buying a larger share of your Shared Ownership home (staircasing) could affect your monthly costs. The figures are an estimate only. Your Just Mortgages Adviser and your housing provider will confirm the actual costs based on your individual circumstances and your lease.

staircasing calculator

Property / Share Details

Current Property Value / RICS Valuation

Property value must be more than £10,000

Enter the current value of the property. When formally staircasing, the cost of the additional share is normally based on the current RICS valuation. If you do not yet have a RICS valuation, you can use a recent estimated value as a guide.

Current Share (%)

Current share must be between 10 and 100

Current Monthly Rent

Please enter your current monthly rent

Service Charge

Please enter your monthly service charge (enter 0 if none)

Mortgage Details

Remaining Mortgage Term (Years)

Remaining term must be between 1 and 40 years

You can find this information on your most recent mortgage statement.

Current Mortgage Rate (%)

For information only. Your existing monthly payment is used as the starting point for the calculation.

Current Mortgage Balance

Please enter your current mortgage balance (enter 0 if none)

Current Mortgage Payment

Please enter your current monthly mortgage payment (enter 0 if none)

New Details

Total Share You Would Like to Own (%)

New total share must be between 10 and 100 and greater than your current share

Enter the total percentage of the property you would like to own after staircasing.

Additional Cash Contribution

Enter any additional savings or funds you plan to put towards the cost of staircasing. Leave at zero if none.

Additional Borrowing Required

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This estimates the cost of the additional share using the current property value / RICS valuation, less any additional cash contribution.

Current Equity

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Estimated equity in the share you currently own (current property value less your outstanding mortgage balance). For information only.

New Mortgage Balance

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This combines your existing mortgage balance with the estimated additional borrowing required. For information only.

Monthly Mortgage Payment

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Your existing monthly payment plus the estimated repayment on the additional borrowing, illustrated using a {{stressRate}}% stress-test rate. Your actual payment may be different.

Monthly Rental Payment

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Your current rent reduced in proportion to the landlord's remaining share after staircasing. Your lease will detail the exact rate and any increases.

Total Monthly Cost

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This combines your estimated new mortgage payment, estimated rent and current service charge.

Change to Your Monthly Costs

Rent

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Estimated reduction in your monthly rent, based on the proportion of the property you will continue to rent following staircasing.

Mortgage

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Purchasing a highere share using additional mortgage borrowing is likely to increase your monthly payments. If purchasing with cash, your existing mortgage payments should remain unchanged, subject to your mortgage terms.

Overall Monthly Change

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Estimated overall change in your monthly cost.

Important: This calculator provides an estimate only and is designed to give you an indication of how staircasing could affect your monthly housing costs. It is not a mortgage illustration, affordability assessment or guarantee of the amount you can borrow. The cost of an additional share is generally based on the current RICS valuation, while the rent after staircasing is normally reduced proportionately from the rent payable before staircasing; however, the exact calculation is governed by your lease and housing provider. Mortgage rates, valuations, service charges and other costs may vary. Speak to a mortgage adviser and your housing provider before making any financial decisions.