 Staircasing
Buying extra equity in your shared ownership property is known as 'staircasing'. You can either staircase by an incremental percentage such as 25% or staircase from your existing share to 100% ownership in one transaction.
The first stage is to have a valuation carried out to determine the current market value of your property. Two values are obtained, one prior to any improvements you have carried out to your property and one to reflect current market value with improvements (if any).
This is then used to calculate the 'staircasing premium' which is the cost to buy an extra share in the property, or the cost to buy the remaining full share of the property. If you staircase to 100% you will still have to pay any applicable service charges but no rent.
If you buy an extra share, your rent will be adjusted accordingly. You can download staircasing paperwork below or call us if you'd like more information.
General information about staircasing
List of approved surveyors
Surveyor instruction form
Confirmation to proceed with staircasing |