Buying More Shares in Your Home (Staircasing)Back to Help & Advice
The process of buying more or the rest of your Shared Ownership home is referred to as staircasing.
Most Shared Ownership leases allow you to staircase up to 100%. There are some that are capped at 80%. This is normally in villages or rural areas, the 80% cap is to ensure there are Shared Ownership homes locally for future generations. You should ask when enquiring about a particular home.
A quick guide to staircasing:
- Contact the Homemade Team and let them know you wish to buy more shares in your home.
- We will check your lease to check you are able to purchase more shares.
- An appointment is arranged for your home to be valued by a RICS (Royal Institute of Chartered Surveyor) valuer.
- Upon receipt of the valuation we will confirm to you, the current value of the property, the cost of any further shares and your new monthly rent.
- If you choose to proceed, we will formally offer you the shares and start the conveyancing process.
- Solicitors will be instructed by you and us.
- The transaction will complete and you will own the higher amount or, all of your home.