Buying further shares in your home
Staircasing is your pathway to a bigger slice of home ownership
View our Staircasing guide by clicking on the thumbnail.
The steps to staircasing
1) Start with a conversation: Reach out to us! We’ll check your lease agreement and ensure there are no restrictions or requirements that might surprise you. You can contact us here.
2) Financial insights await: If you are partially staircasing, we’ll ask you to engage with one of our panel mortgage brokers. They’ll conduct a brief affordability assessment, ensuring you’re well-prepared. You can find their contact details here. Your mortgage broker will talk to you about some of the fees that might be payable when staircasing.
For example:
a. Valuation/survey fees: Uncover the current value of your home with this essential fee.
b. Mortgage fees: If you are arranging a mortgage, there might be application or booking fees; this is usually paid directly to your mortgage lender.
c. Legal fees: Your solicitor’s expertise comes with a charge, ensuring everything is above board.
d. Stamp Duty Land Tax: A potential cost, but your solicitor will be your guide on this journey.
3) Discover your home’s worth: It’s time for a professional valuation! A Royal Institute of Chartered Surveyors (RICS) qualified surveyor will be appointed to assess your home’s current market value and the value of the share you’re buying. Before you embark on this step, touch base with us; we have insights from your lease and additional guidance to offer. You can ask us for a quote from our expert RICS panel members for your staircasing survey. Alternatively, you have the freedom to pick your own RICS surveyor; just ensure they match our standards.
4) An exciting proposal: The moment of truth! Once we’ve reviewed your valuation report, you’ll be presented with the option to purchase additional shares in your home, bringing you closer to full ownership.
5) Selecting your legal guide: Once you nod in agreement to the offer, you’ll need a solicitor to navigate the legal waters. Opt for one well-versed in Shared Ownership, Staircasing, and our processes. Need suggestions? Take a look here.
6) The grand finale: With all the paperwork in place, the shares are officially yours, and you’ve successfully ascended another rung on your homeownership ladder.
Try our staircasing calculator
Our calculator allows you to illustrate the reduction in your monthly rental payments when staircasing. Offering a dynamic and user-friendly way to calculate your new monthly rental payment as you progress through staircasing. Whether you’re taking your first steps towards increased ownership or aiming for full ownership, our tool provides clarity and transparency, helping you make informed decisions about your future.
Ready to take the next step?
What is restricted staircasing?
# Most Shared Ownership leases allow you to staircase up to 100%. However, some leases are capped at 70%, 75% or 80%. This rule is known as restricted staircasing.
The cap, put in place by local government, ensures there are Shared Ownership homes locally for future generations.
We'll let you know if restricted staircasing applies to your home in the property listing.
For example, if you were to buy a property with an 80% restriction and initially purchased a 50% share, then the maximum you could increase your share in the future would be 30%.
If you'd reached the maximum 80%, of course, you could sell your home at this share level to someone who wants to buy your home using the Shared Ownership scheme.