Increasing your share

As part of your shared ownership lease, you can buy more shares as and when you want to. You can increase your shares until you own 100% of your home. This is called staircasing, as it’s taking the next step towards your goal of home ownership. 

The cost of the additional shares is based on the market value of your property at the time you purchase them. When you increase your shares, your rent is also re-calculated and reduced accordingly.

Our customers often have the ability to buy all of the shares from us, although customers with properties in rural locations may be restricted to 80% maximum. This helps us keep some affordable properties in the area.

To buy more shares, you will need to:

  • Speak to a financial advisor about raising the necessary funds. This could be through a mortgage, savings or a combination of both.
  • Speak to us about having the property valued by an independent chartered surveyor. This will help us get the right value for the property, taking into account any improvements you may need to make while living there.
  • Speak to a solicitor to help you undertake the legal checks and paperwork necessary to buy more shares.
  • We will help you get the valuation, and our solicitors will deal with the legal paperwork from our side. 
  • If you have any questions about the staircasing process, call us on 01392 814 637 or email our Staircasing team

Buying your home

You will need to fund the asking price for the share you are buying, either from a mortgage or from the sale of a previous home. 

In addition, you will pay rent on the part of the home you don't own and you will need to factor in any service charges.

You will also be responsible for any maintenance or repairs on the property just like any other homeowner. 

If you have any questions about the staircasing process, call us on 01392 814 637 or email our Staircaising team. 

Selling your home

Read about how to sell your shared ownership home here

If you have any questions about the staircasing process, call us on 01392 814 637 or email our Staircaising team. 

Maintenance

Read about what you are responsible for and what we are responsible for here.

If you have any questions about the staircasing process, call us on 01392 814 637 or email our Staircaising team. 

Problems or questions?

If you have any questions about the staircasing process, call us on 01392 814 637 or email our Staircaising team. 

To read more about your options as a shared ownership customer, take a look at our helpful information section about shared ownership.