Staircasing means purchasing additional percentages of a shared ownership house or flat.  Depending on the type of lease there may be restrictions on time and amount of staircasing, but often 25 per cent portions are available until the homebuyer reaches 100 per cent. The cost of staircasing depends on the market valuation of the property at the time the purchase of the share takes place.

In the case of a house once a buyer has purchased 100% of the property they will then own the freehold. However, once a buyer of a flat reaches 100 per cent of the property, they own it on a long lease, not as a freehold. At this point, the buyer only has to pay ground rent on the property (a very low figure) but does not have to pay rent to the housing association they have purchased from.

How would I go about staircasing?

In order to purchase a further part of your home you will need to contact us. When you contact us, an independent valuation will be commissioned. The valuation costs are entirely the responsibility of the buyer, and must be paid in full before the valuer is instructed. Depending on the share you wish to purchase, you must pay this percentage of the value as determined by the valuation.  If after receiving the valuation you still wish to purchase a further share in the house you will have three months to complete the purchase. If a valuation expires it will be necessary to renew it.  You should confirm in writing if you wish to proceed with the sale of the property once you have received the valuation from us.

Home improvements

Before the valuer arrives it is a good idea to make a list of any improvements that you have done.  The valuer will then assess the value of your property with the improvements you have carried out and without.