Shared ownership and staircasing

[candlefloozy]

Purchased a shared ownership property two years ago. They've sent a letter today saying if we want to staircase they will pay for the valuation and legal fees - great. I've emailed to get the ball rolling. When we was buying the house we were told we could buy 100%. So the email I've received said that we can do this but we would need to pay our service charge. So does this mean that even if we own 100% of the house that we'd still need to pay the service charge?? Seems silly to me. Anyone been in the same situation? Or have I just misunderstood the email. Also, they will probably explain this to me on Monday but as it's Friday afternoon I was just wondering.

Candlefloozy, thanks for your update. So sorry you haven’t got the information that you need - it must be incredibly frustrating. Good luck with the estate agents.

Just an update. The estate agent has been round and valued the house. Took into account everything we had done and took that off the total valuation. I've now contacted the bank who we have our mortgage off and they will contact us to see what we can afford. They have said we won't need a deposit if we decide to go for 75% or 100% but it's just down to affordability. We will still have to pay a service charge but this is minimal.

Thanks for the update - wishing you the very best of luck! Hope that everything goes smoothly.

Hi, I viewed a property Saturday & my offer Sunday was accepted on the same day. I would still like to arrange a 2nd visit. What would you check on this visit? Thank you very much.

@Hotdog19 depends on what you're looking at in regards to what you want in your home. Or do you have questions about shared ownership?