Staircasing: Own More more of your of Your Shared Ownership home
What is Staircasing?
Staircasing refers to the process of buying additional shares in your shared ownership property. When you initially purchased your shared ownership home, you likely acquired a percentage of the property, with the landlord/freeholder retaining the remaining share. Staircasing enables you to increase your share in the property, reducing the percentage owned by us and giving you a larger ownership stake.
Benefits of staircasing
- Increased ownership: By staircasing, you have the opportunity to gradually increase your ownership share in your home. As you purchase additional shares, you move closer to owning the property outright.
- Greater control and flexibility: Owning a larger share gives you more control over decisions regarding your home, such as potential renovations or alterations. You also gain greater flexibility in terms of selling the property, as a larger ownership stake can make it easier to find buyers.
- Potential financial benefits: As you increase your share, you may benefit from any increase in property value. This can lead to potential equity growth and financial gains in the long run.
- Reduced rent: As you purchase more shares, your rent payments to us decrease. This can result in increased affordability and financial stability.
Our Staircasing services
We offer comprehensive support and guidance to ensure a smooth and transparent experience.
Our services include:
- Information and eligibility assessment: We provide detailed information about staircasing, including the eligibility criteria and the steps involved in the process. Our team can assess your eligibility for staircasing based on your current circumstances and the terms of your shared ownership agreement.
- Valuation and share purchase calculation: We work with independent surveyors to conduct property valuations, determining the current market value of your home. This valuation helps calculate the price of the additional shares you wish to purchase.
- Application support: We assist you in preparing and submitting your staircasing application. Our team ensures that all necessary documents and forms are completed accurately, and we liaise with solicitors and conveyancers to facilitate a seamless process.
