Your staircasing options

If you live in a shared ownership home, you might want to buy a bigger share. This is known as staircasing.

What is staircasing?

A shared ownership home is a flat or house that you own a percentage of while paying rent on the un-owned share. The process of buying more shares in your home is known as staircasing. As you take more steps towards owning your own home your rent will decrease, until eventually you own your home completely.

How the process work?

Staircasing is a straightforward process, however there are some things to consider before you decide to go ahead.

  • The more you own of your home, the less rent you’ll pay. However, unless you buy the increased percentage with a lump sum, you’ll need to think about getting a mortgage to cover the cost. Think about what you can afford and what the best way to pay is for you
  • Make sure your rent payments are up-to-date. You can’t staircase if you owe us money on your rent
  • Any improvements you have made to your home could impact the valuation of your home. Please register all improvements with us before you staircase. We can then discount them from the price you pay. Our improvements registration fee is £50.

I’ve decided I want to staircase. What do I do next?

For most customers, staircasing is likely to involve a new, larger mortgage. You will need to find a mortgage lender to loan you the money to buy more shares. If you’d like to consider staircasing to own more of your home, we recommend you seek independent mortgage advice.

We’re here to help

If you have any questions about buying extra shares or would like to start the process, please contact our Home Ownership team on 0300 456 2099 or contactcatalyst@chg.org.uk