First Time Mortgages - Staircasing and Joint Mortgages

WIth the increasing affordability gap between the cost of buying a house and average incomes many first time buyers are taking desperate measures to try an get on the property ladder. Popular options include:

Borrowing from parents,
Self certification mortages
Interest Only Mortgages

One of the best schemes is to try and get some kind of "staircase" arrangement this allows you to buy a % of the house say 60%, the remaining 40% is bought by a housing association you then can increase your ownership of the house over a period of time. This is why it is known as staircasing.

Staircase Mortgages for first time buyersf