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Staircasing - buying more shares

What is staircasing?

Staircase and Staircasing are the terms that we use to refer to the process of buying some or all of the remaining shares in your shared-ownership home.

Our process involves having the property valued by an independent surveyor to work out the current value.

You are able to instruct an independent RICS (Royal Institute of Chartered Surveyors) / FRICS (Fellow of Royal institute of Chartered Surveyors) registered surveyor of your choice or you can select a surveyor by using the Staircasing Valuation Request Form. (PDF 65KB)

If you would like to use your own surveyor then they must meet the following criteria:

  • The valuer needs to be independent and can not be associated with any estate agents.
  • The valuer must not be related to you.
  • The valuer must not be employed by any bank/building society.
  • The valuer must be registered with the recognised qualification of FRICS or RICS.
  • L&Q will require a copy of the valuation report; this should be valid for a period of three months. (and should be valid until completion takes place)
  • The report must include at least three comparable properties used to determine the value.
  • The report must also state that L&Q can use the contents of the valuation report.

Please note that we may ask the surveyor to justify the valuation provided.

Once a valuation is in place we will be able to quote a price for the share you want to buy. Normally the minimum percentage you can buy is 10% and anything up to the percentage that L&Q owns to take you to 100% ownership.

Please make sure you've organised a solicitor to act for you in dealing with all the legal work required.

If you are an equity loans customer, there are administration charges (122 KB) for dealing with your application.

We make a charge to cover the cost of providing a service to you. Our shared ownership customers pay a fee included in their monthly service charges to cover the cost of L&Q providing this service.

Find out more about buying the rest of the share in your home. (150 KB)

Please download the leaflet, financial consultants (39 KB), if you would like to contact an independent mortgage consultant.

If you wish to discuss any part of the staircasing process, please contact L&Q Direct.