Shared Ownership Staircasing | Alexander Southwell

What Is Staircasing?

How to Increase Your Share

Staircasing is how you grow your ownership in a shared ownership home over time. You can buy additional shares from the housing association whenever you have the funds, with each purchase priced at current market value. Here is a breakdown of the three key aspects of the process.

🤝

Buying Additional SharesHow Staircasing Works

Staircasing means purchasing additional shares from the housing association, increasing your ownership percentage over time. Most leases allow you to staircase in tranches of ten per cent or more. Each time you staircase, the share price is calculated from a fresh RICS valuation of your property at current market value, so the cost rises if your home has increased in value since you last bought.

Minimum Tranche / Usually 10%

Share Priced At / Current market value

Maximum / Up to 100% ownership

Once you reach one hundred per cent ownership, the housing association's involvement ends completely. You no longer pay rent and the property is yours outright. At this point you can remortgage, sell or let it on the same basis as any standard homeowner.

🏗

Paying for More SharesSavings, Remortgage or Both

You have two main options: using savings to pay in cash, or remortgaging to borrow more. Many shared ownership owners combine both. If you remortgage, your adviser will compare all available lenders to find the most competitive deal. Not all lenders offer shared ownership mortgages, so using a whole-of-market broker is particularly important.

If you staircase using savings only, your existing mortgage stays in place. Your current rate and payment remain unchanged. You still need a solicitor to update the lease regardless of how you fund the purchase.

Your adviser will model the cost of staircasing now versus waiting, factoring in projected property values, current rates, and your overall financial position. Timing your staircase well can save you a significant amount.

🏘

Costs to Budget ForWhat You Will Need to Pay

Each staircase incurs fees. You will need a RICS valuation (typically £200 to £400), solicitor fees for the lease update (usually £500 to £1,000), and potentially mortgage arrangement fees if remortgaging. Stamp duty may also apply depending on the size of the additional share and what you have previously paid. Your adviser will give you a clear total cost picture before you commit.

When Is the Right Time to Staircase? The price you pay for additional shares is calculated from a fresh RICS valuation at the time of purchase. If your home has risen in value since you bought your initial share, those further shares will cost more. For this reason, many shared ownership owners choose to staircase sooner rather than later, particularly in rising markets. Your adviser will help you model the cost of buying more shares now versus waiting, and recommend the most cost-effective timing for your situation.

The Staircasing Steps

How to Staircase Your Shared Ownership Home

The staircasing process follows a set sequence. Here is what happens at each stage:

Speak to Your Broker

Your adviser reviews your current mortgage, existing ownership share, and finances. They calculate how much additional borrowing is available and help you decide whether now is the right time to staircase.

Commission a RICS Valuation

A registered RICS valuer assesses your property at current market value. This is required before any staircase can proceed. The housing association uses this figure to calculate the cost of the additional shares.

Receive the Share Price

Once the valuation is complete, the housing association issues a formal offer confirming the price of the additional shares you wish to buy. This offer is typically valid for three months.

Arrange Your Funding

If using savings you confirm the purchase directly. If remortgaging, your adviser prepares and submits the application. The new lender will carry out its own valuation of the property independently.

Instruct a Solicitor

Your solicitor handles the legal transfer of the additional share, updates the lease with the Land Registry, and deals with any stamp duty payable. Solicitors experienced in shared ownership are strongly recommended.

Complete the Staircase

Funds are transferred to the housing association. Your lease is updated to reflect your new, higher ownership share. Your rent on any remaining share held by the housing association is recalculated downward.

How Long Does a Staircase Take? The process typically takes six to twelve weeks from commissioning the RICS valuation to completion. Timelines can extend if you are remortgaging at the same time. Instructing experienced solicitors and acting promptly on paperwork requests will keep things moving.

Staircasing — Buying More of Your Home

How to Increase Your Share

How to Staircase Your Shared Ownership Home

Useful Calculators

Related Guides

Staircasing — Buying More of Your Home

How to Increase Your Share

How to Staircase Your Shared Ownership Home

What is staircasing in shared ownership?

How do I buy additional shares through staircasing?

Do I need a new mortgage when I staircase?

Are there costs involved in staircasing?

Can I staircase all the way to full ownership?

Useful Calculators

Related Guides

Ready to Take the First Step?

Speak to one of our fee-free mortgage advisers today. We'll calculate your affordability, explain your options, and help you move forward with confidence.