For Chris, buying his Shared Ownership home was the fulfilment of a lifelong ambition. Two years later, he's taken another step towards owning more of his home by using Accent's 1% staircasing option.
Chris, who works as a residential worker for the National Probation Service, has always dreamed of having a place to call his own.
"I was raised in foster care, so it has always been my ambition to have my own home. It happened later in life than I originally imagined, but buying my Shared Ownership home made that dream a reality."
Buying an extra share
Staircasing allows Shared Ownership customers to buy a larger share of their home over time.
With the 1% staircasing option, eligible customers can increase their ownership in smaller, more affordable steps, rather than buying a larger share all at once.
For Chris, it meant he could use money he had saved to buy an additional 1% of his home without increasing his mortgage.
"I thought the 1% staircasing option was a brilliant idea. It gives me a way to build up more equity in my home without adding to my mortgage."
His additional 1% share cost less than £2,400, allowing him to put his savings towards increasing his ownership.
Support every step of the way
Chris said the process was straightforward from start to finish, with support from Accent's Sales Team throughout.
"Katie guided me through it step by step and always kept me updated. She explained everything clearly, so I always knew what was happening."
Having someone on hand to answer questions gave Chris confidence throughout the process and made buying an additional share simple and stress-free.
A step towards the future
Although Chris isn't planning to buy 100% of his home just yet, he's pleased to have a practical way of increasing his ownership over time.
"I'm proud to own my home. This gives me a manageable way to own a little more of it."
He also believes the 1% staircasing option could help other Shared Ownership customers work towards their own homeownership goals.
Could 1% staircasing work for you?
If you're an eligible Accent Shared Ownership customer, you may be able to increase your ownership by just 1% at a time, making it easier to build your share of your home at a pace that suits you.
If you'd like to find out more about 1% staircasing or check whether you're eligible, get in touch with our Sales Team.