Do I pay any additional stamp duty when I staircase up?
No. You are a lender to the company which owns the house and therefore any increase in the amount you lend is not chargeable.
Do I have to pay stamp duty, if in future I want to buy the whole property?
Yes, if you wish to hold the title of the company in your own name. It may also be possible to continue to own the property through the company, in which case there will be no stamp duty land tax to pay.
Can I ask to buy an OnStep home as a development project?
No, OnStep homes are only available to rent as your primary residence.
Is there a minimum investment that I need to make?
Yes, you will need to have a minimum investment of 6% to avail an OnStep home.
Can I make an investment of more than 5% ?
Yes, of course. If you have more than 5% to fund, you may be able to start with a higher share in the increase in the value of the property. You will also pay less in rent, as the rent charged by the company is adjusted to reflect your funding contribution.
What other costs do I have to pay?
Apart from your rent, there are is nothing else to pay to us. Bear in mind, you will have to pay all repair and maintenance costs.
Can I have more share at the start?
Yes, as long as you can contribute more than 5% funding at the start. You can fund any amount of the purchase price and you will have a proportionate share in the increase in the value of the house, calculated as: (your equity loan) / (total equity loans).