As a shared owner, you can buy a bigger share of your home when you can afford to. This is called staircasing. It will mean you own more of your home. The more you own, the less rent you’ll pay.
You’ll also benefit from any increase in house prices. The more of your home that you own, the greater you’ll benefit if its value increases.
If you staircase up to 100 percent ownership, you’ll have a better choice of mortgages and will be able to sell the property on the open market, if your lease allows.
You can staircase as many times as you like until you own your home outright. Most people will staircase two or three times before they own 100 percent of their home. The minimum percentage you can staircase by is 10 percent and then in 5 percent increments i.e. 10 percent, 15 percent, 20 percent etc.
If you’d like to staircase, please complete our Staircasing enquiry form below. By submitting the form you’re agreeing that you’ve read and understood our Staircasing fact sheet[pdf] 335KB, which provides a guide to the process and an overview of associated costs.
If you have any questions about staircasing, call us on 01245 615 046 to speak to our specialist team or email firstname.lastname@example.org.