Buying more of your home

With shared ownership you will part buy, part rent your home. Through the staircasing process you can then buy a higher share in your home and pay less rent.

You can buy more shares in your home as and when you can afford it. The more shares you have in your home, the less rent you will pay, until eventually you own your home outright and no longer pay rent to us.

Understanding the staircasing process will help you over time own a greater share, or all of your home.

*Staircasing to 100% will depend on the terms of your lease.

PH GUIDE THUMBNAIL Staircasing

Want to know more about Staircasing?

Find out everything you need to know about buying more of your home in our latest guide.

Guide To Staircasing

The staircasing process

Check your finances


Speak to your mortgage lender or independent financial advisor (or use our online staircasing calculator) to find out how much it would cost to buy more shares in your home. The cost will be based on the open market value of your home at the time that you wish to buy them. Your lender will also confirm your eligibility for a mortgage advance.


Complete an application

Complete our Staircasing Application Form and return it to us. We will assess your application based on your financial status and eligibility. We will also check your rent is not in arrears.

Please note: A staircasing fee of £180 (Inc VAT) will apply.

Arrange a valuation

We will arrange for a valuation of your home, at your cost. This must be done by an independent surveyor qualified through the Royal Institute of Chartered Surveyors (RICS) or Fellow of Royal Institute of Chartered Surveyor (FRICS).

Approval

When we receive the valuation we will write to you confirming the value of your property and the cost of the additional shares you wish to buy. We will also advise you of your new rent and service charge calculations., As soon as we receive the property valuation report we have a few checks to make in line with the valuation requirements. We will then also calculate the purchase price of the shares you wish to buy based on the valuation report and confirm this and all other details in writing to you along with an Authority to Proceed Form. This form confirms to us that you accept the price of the shares and wish us to commence the transaction - all leaseholders named on the lease must sign this form.

Appoint a solicitor

Finally, you will need to confirm the solicitors that will be acting on your behalf. This is so we can give consent when you are ready to complete. You will have three months from the date of the valuation to complete the purchase, otherwise a new valuation maybe required at additional cost.

If you're ready to take the next steps in buying more of your home, please get in touch with us and we'll help you through the process.

Make a Staircasing enquiry