Awaiting an appointment with a broker but asking here too, in case anyone has experience of this.
We have already owned one SO house and sold it in two days, two years ago. We still couldn't afford open market so opted for a bigger SO property again.
We bought this SO house almost 2 years ago, 40% share of £365k.
We're considering staircasing but the house has now been loosely valued at £380-90k.
We only want to staircase if we can reach 100%. We know it's not our forever home but realistically we will be here another 5 years or so. We also know that if we want to sell, as a SO property it's better to sell at a lower percentage. So it's either stay where we are or go to 100%.
My big concern here is, if this value keeps rising, surely the chance of 100% keeps drifting further into the distance.
Combined income is roughly £68-70k plus I do earn commission regularly so not sure if that could be included.
Does anyone have any idea about staircasing when the value has risen significantly?
Many thanks!