{"id":15409,"date":"2024-07-30T12:09:04","date_gmt":"2024-07-30T12:09:04","guid":{"rendered":"http:\/\/TheNextWeb=1408936"},"modified":"2024-07-30T12:09:04","modified_gmt":"2024-07-30T12:09:04","slug":"uk-startup-automates-shared-ownership-process-to-tackle-housing-crisis","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=15409","title":{"rendered":"UK startup automates shared ownership process to tackle housing crisis"},"content":{"rendered":"\n
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London-based Stairpay has raised \u00a3750k in Pre-Seed funding<\/a> to help first-time home buyers navigate the shared ownership process \u2014 and ultimately move to full ownership.<\/p>\n

For individuals facing challenges entering the (overcrowded<\/a>) UK housing market, shared ownership offers a potential solution. This government scheme allows buyers to purchase a share of a property (usually between 25% and 75%), while paying rent on the rest to a housing association that co-owns it.<\/p>\n

\u201cShared ownership is just one way of facilitating gradual home ownership,\u201d Floris ten Nijenhuis, founder of Stairpay, told TNW.<\/p>\n

Automating shared ownership<\/h2>\n

Founded in 2022, the startup<\/a> has developed a platform that automates the process for both residents and housing associations \u2014 from initial purchase to staircasing (the move towards full ownership) and share resales. The platform also comes with a dedicated app for residents.<\/p>\n

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According to Nijenhuis, what sets Stairpay\u2019s technology apart is its data-driven approach.<\/p>\n

\u201cThe biggest issue currently is data,\u201d he said. \u201cThere\u2019s no tracking of people\u2019s finances after initial purchase so the landlord can\u2019t support them in their journey to 100% homeownership.\u201d<\/p>\n

Stairplay gathers data<\/a> from residents and uses it to inform landlords on how they can help them move up the ownership ladder.<\/p>\n

\u201cBy seeing the data across all landlords we can [also] see what works across different regions, property types, salary bands, and so on,\u201d Nijenhuis said.<\/p>\n

The startup has partnered with housing association Clarion, social enterprise Places for People, and property portal for shared ownership Share to Buy. During a recent two-month pilot with Clarion, Stairplay reported a 50% increase in staircasing transactions.<\/p>\n

With the fresh capital, the startup plans to team up with more housing associations and further develop its platform. It\u2019s also considering a future expansion to the US market. Fuel Ventures led the funding round with participation from Heartfelt Ventures and a series of angel investors.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

London-based Stairpay has raised \u00a3750k in Pre-Seed funding to help first-time home buyers navigate the shared ownership process \u2014 and ultimately move to full ownership. For individuals facing challenges entering the (overcrowded)…<\/p>\n","protected":false},"author":1,"featured_media":15410,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/15409"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15409"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/15409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/15410"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}