Staircasing is buying more shares in your shared ownership home, up to full ownership. It is how you move from owning a slice of your home to owning most or all of it, paying less rent as your share grows. Here is how it works and what it costs.
What is staircasing?
Staircasing means buying additional shares in your home from the housing association. Each share you buy increases your ownership and reduces the rent you pay on the remainder. On most homes you can staircase all the way to 100%, though some in designated rural areas are capped below that.
How staircasing works, step by step
Getting your share valued
The price of the next share is based on the current market value of your home, set by an independent valuation, not what you originally paid. So if prices have risen, the next share costs more.
Borrowing more to buy the next share
Most people fund staircasing by increasing their mortgage. As former bank managers we can compare lenders and check the new payments are affordable. See our shared ownership mortgage advice, or estimate the change with the shared ownership calculator.
Staircasing to 100%
Once you own 100% you usually stop paying rent and, on many homes, can sell on the open market. Read what changes in what happens when you own 100% of shared ownership.
Staircasing costs and fees
As well as the cost of the share, expect a valuation fee, legal fees and possibly a mortgage arrangement fee. Newer leases let you staircase in small annual amounts with reduced costs. Factor these in alongside your other shared ownership costs.
Shared ownership vs full ownership
The more you staircase, the closer your home is to a normal purchase: more mortgage, less or no rent, and fewer restrictions when you come to sell. Whether to staircase, and how fast, depends on your budget and how long you plan to stay.
Staircasing your Lincolnshire home
We help shared owners across Sleaford, Lincoln, Grantham and Boston work out whether staircasing makes sense and arrange the extra borrowing. New to the scheme? Start with how shared ownership works. Staircasing rules and fees vary by lease and change over time, so we confirm what applies to your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
