Subsidising mortgage rates for staircasing would significantly increase take-up

A reduction from 4.7% to around 3% could increase staircasing rates by up to five times, unlocking around £13 billion for housing associations to reinvest into new affordable housing over a five-year to ten-year period.  In July, the G15 Resident’s Group wrote to the Housing Minister with this proposal, highlighting that, not only would it benefit existing shared owners, but it would also help to address unmet housing need.

A reduction from 4.7% to around 3% could increase staircasing rates by up to five times, unlocking around £13 billion for housing associations to reinvest into new affordable housing over a five-year to ten-year period.  In July, the G15 Resident’s Group wrote to the Housing Minister with this proposal, highlighting that, not only would it benefit existing shared owners, but it would also help to address unmet housing need.

A reduction from 4.7% to around 3% could increase staircasing rates by up to five times, unlocking around £13 billion for housing associations to reinvest into new affordable housing over a five-year to ten-year period.  In July, the G15 Resident’s Group wrote to the Housing Minister with this proposal, highlighting that, not only would it benefit existing shared owners, but it would also help to address unmet housing need.