What is shared ownership staircasing?
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In short: Buying additional shares in a shared-ownership home you already part-own. Each extra share reduces the rent you pay on the landlord's portion until you can own 100% in most schemes.
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Reviewed by Kaiser Khan
Shared ownership lets you buy a share of a home (often between 10% and 75% initially) and pay rent on the rest to a housing association or landlord. Staircasing is the process of buying more shares over time — for example moving from 25% to 50% or to full ownership.
When you staircase, the price of each new share is usually based on the current market value of the whole property, valued by a surveyor. You will need a mortgage or savings to fund the purchase, and there are typically valuation, legal, and administration fees each time you buy another tranche.
Owning a larger share cuts the rent on the remaining portion and increases your equity if the property rises in value. Most newer shared-ownership leases allow staircasing up to 100%, though older leases sometimes capped ownership at 80% — check your lease before you plan.
Some landlords offer a 'landlord's share purchase discount' on the final 1% or 2% when you reach full ownership. Tell your landlord you want to staircase, get a valuation, arrange funding, and use a solicitor familiar with shared ownership to handle the legal transfer.
Primary source: gov.uk/shared-ownership-scheme
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