Staircasing & FAQs
Thinking about buying more shares of your home? Here's where to start.
Owning a Shared Ownership home gives you the freedom to buy more of your home over time. We call this staircasing. You don’t have to buy more shares, but you absolutely can – it’s your choice. It’s a great way to move towards owning your home at a pace that suits you.
You can usually buy as many shares as you like, as long as it’s affordable for you. The more shares you buy, the less rent you’ll pay to us. This is because you only pay rent on the part of your home you don’t own. If you staircase to 100% ownership, you won’t pay us any rent at all.
Wondering how to staircase with Shared Ownership?
It’s straightforward. You’ll need an RICS independent valuation of your home to find out its current market value. The price of your new shares are based on that valuation. You’ll work with your mortgage provider (if you have one) and your solicitor to complete the purchase. We’ll be here to guide you every step of the way.
Before you buy your new shares, we’ll let you know how this impacts your monthly payments. But, you can also try this handy Shared Ownership staircasing calculator provided by Share to Buy.
Still have questions about how staircasing works? We’re here to help.
Check out our staircasing FAQs below to find out more about Shared Ownership staircasing and how it might work for you.
Staircasing FAQs
What is staircasing?
Staircasing is when you buy more shares in your Shared Ownership home. The more shares you buy, the more of your home you own and the less rent you pay to us. You can usually staircase by buying shares of 5% or more, and in most cases you can eventually buy 100% of your home. That means full home ownership at a pace that suits you.
How does staircasing work?
Looking for the quick version? We've put together a guide for you.
Your guide to staircasing with Shared Ownership
Much like buying your first shares of your home, you’ll need the help of a Mortgage Advisor (MA), a mortgage broker and a Solicitor.
We’ll also ask you to get a RICS valuation to confirm how much your home is worth. This is valid for three months, and we’ll aim to have the whole process wrapped up within this time. You can help things move along faster by using a Solicitor who specialises in Shared Ownership resales. We've put together a handy list of the solicitors that do.
How much does it cost to staircase?
Every shared owner is different. The cost of staircasing depends on how many shares you want to buy and the current market value of your home. But here’s a few costs to consider if you’re thinking about staircasing:
- Deposit: usually 5% of the new amount you're looking to buy*
- a RICS valuation
- solicitor’s fees
- mortgage fees (if you’re taking out a new mortgage)
- a £180 administration fee to Abri (unless you’re staircasing through the 1% option)
- if you’re staircasing to own 75% of your property or higher, you will need to also consider Stamp Duty Land Tax. Not sure what you need to pay? Head on over to our Stamp Duty page.
If you’d like to find out how much buying extra shares could cost, you can use this handy Shared Ownership staircasing calculator to get an idea before you start.
*Not required for remortgaging.
What is 1% staircasing?
If you bought a home as part of the Affordable Homes Programme 2021-26, you’ll be able to staircase 1% each year (for up to 15 years), with no Administration Fees, Solicitors or RICS Survey. This also means no additional lending or mortgage fees. You’ll still have the option to staircase from 5% if and when you’re ready.
Download a guide to 1% staircasing
Not sure if you qualify for 1% staircasing? Just get in touch with our Post Sales team and they’ll check if you have the right type of lease. We’ll then be able to send you an Additional Percentage Value Notice. This tells you how much your 1% share will cost you.
The value of your 1% will be based on the current value of your home, plus how much that’s increased by the UK House Price Index. If you’re happy with the price, just send us an email to confirm and we’ll get things started.
If you don’t agree with the value we’ve worked out, you can choose to get a RICS valuation instead. Once everything’s agreed, we’ll send you a Memorandum of Staircasing to confirm your purchase, and agree a date for you to pay for your new share.
Can I buy 100% shares of my home?
In nine out of ten cases, shared owners have leases that allow them to staircase to 100% ownership. That means you can buy the remaining shares and own your home outright. Once you’ve reached full ownership, you’ll no longer pay rent to Abri, but you may still need to cover any service charges.
There may be other restrictions in some leases, so it’s always best to check. Pop a message to our Post Sales team and an Independent Mortgage Advisor (IMA) to find out your best route to 100% ownership.
How long does staircasing take?
Most Shared Ownership staircasing transactions take around 6 to 12 weeks to complete, depending on how quickly your valuation, mortgage and legal work are arranged.
To help things move faster, make sure your RICS valuation is up to date and that you’re using a solicitor who understands Shared Ownership staircasing. We’ll keep you updated throughout the process so you always know what’s happening.
Is it worth staircasing with Shared Ownership?
For many people, staircasing is a great way to take another step towards full home ownership. The more shares you own, the less rent you pay. And if you reach 100%, you’ll no longer pay rent at all! Staircasing (too 100%) can also give you more control over your property and may increase the value of your investment over time.
That said, it’s always worth checking your finances and getting advice from a mortgage broker or financial advisor before you make any decisions. You can use a staircasing mortgage calculator to get an idea of how buying more shares could work for you.
Can I sell my home after staircasing?
Yes! You can sell your Shared Ownership home at any time. If you’ve staircased to 100%, you can sell it on the open market just like any other homeowner.
If you still own a share, we'll help you sell your home through our resales process. Some leases may include a nomination period where we market your home to other eligible Shared Ownership buyers. Either way, our resales will support you throughout the process.
Check out our Sellers Guides for more information about this.
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