Shared ownership brand SO Resi has partnered with proptech firm Stairpay in order to streamline the staircasing process for housing providers and shared owners alike.
The collaboration will offer housing associations an end-to-end staircasing service that begins with digital engagement and affordability checks and culminates in the completion of share purchases, managed by SO Resi.
Stairpay, founded to bring transparency and ease to shared ownership, offers an app-based platform that acts as a first point of contact for residents considering staircasing. Through the platform, shared owners can review their rent, mortgage, service charges and equity position to understand whether they are financially ready to increase their share in their home.
Once a homeowner opts to staircase, the process is handed over to SO Resi, the shared ownership arm of Metropolitan Thames Valley Housing. SO Resi currently manages around 400 staircasing transactions each year via its dedicated resales and staircasing team. Since 2021, the business has also been working in partnership with other providers, offering outsourced staircasing services under the SO Resi Partnerships brand.
Mark Porter, head of SO Resi Partnerships, said: “Shared ownership is a specialist product which includes a customer journey that can span years. Staircasing is a complex process that requires financial diligence and legal compliance. As such, working with an experienced staircasing partner can help to alleviate this burden on housing providers.
“Our asset management expertise supports our partners to manage their housing portfolios efficiently while generating revenue through staircasing that can be reinvested into the future delivery of homes.
“We’ve joined forces with Stairpay to manage staircasing from both a customer and provider perspective, streamlining the process from the initial enquiry through to completion without compromising on customer experience.”
Stairpay’s founder and chief executive Floris ten Nijenhuis added: “Stairpay is designed to help shared owners make better informed decisions through access to data and transparency with their landlord, and enables more shared owners to gradually reach full ownership.
“Working alongside SO Resi, we are able to deliver a fully comprehensive service to affordable housing providers – giving their residents access to our suite of tools to help them to assess their affordability to staircase, and then fully managing the process to completion.”
