Shared Ownership specialist SO Resi has joined forces with proptech firm Stairpay in a new partnership aimed at simplifying the staircasing journey for shared owners and easing the administrative burden on housing providers.
The collaboration will offer housing associations and affordable housing landlords an end-to-end staircasing solution – from initial enquiry to final transaction – designed to improve efficiency, increase engagement with shared owners, and unlock capital for reinvestment into affordable housing stock.
Stairpay’s digital platform acts as a first point of contact for shared owners who are interested in buying further shares in their property.
The app allows users to instantly access key information on rent, mortgage payments, service charges and existing equity, helping them assess whether staircasing is financially viable.
SPECIALIST PRODUCT
Once a shared owner is ready to proceed, the transaction is handed over to SO Resi, the dedicated Shared Ownership brand of Metropolitan Thames Valley Housing. SO Resi currently manages around 400 staircasing cases a year and offers shared ownership transaction services on behalf of third-party housing providers via its SO Resi Partnerships arm.
Mark Porter, Head of SO Resi Partnerships, says: “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.”
INFORMED DECISIONS
Stairpay’s founder and CEO, Floris ten Nijenhuis, adds: “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.”
