How many times can I staircase?
Do I have to staircase?
Is there a minimum time I have to wait before staircasing?
Will staircasing affect my mortgage?
What will happen to my rent when I staircase?
If you purchased your home with Home Reach andyou pay ground rent or a service charge on your lease, this will still be due after you staircase to 100%. Please note, this does not apply to homes bought using Your Home.
Do I need to instruct a solicitor?
Will the land registry be updated when I own more?
What information does my mortgage lender need?
How long does the staircasing process take?
Can my valuation expire?
Valuations are valid for three months from the date of your property inspection. Indeed, a valuation can expire, in which case you would need to seek an extension for a further three months which will need to be obtained from the surveyor who completed the original valuation. Please note, heylo are unable to issue a valuation extension.
Do I need to sign a new lease?
What are the costs of staircasing?
- Your solicitor’s fees
- RICS valuation
- heylo staircasing administration fee - £150 + VAT (Correct as of April 2021)
- Mortgage fees (if applicable)
- Stamp Duty Land Tax (SDLT)