Buying more shares in your home (staircasing)
Important: If you live in our apartment blocks
Some lenders may require an EWS1 form before approving a mortgage. This can affect your ability to remortgage, so check with your lender or broker before paying for valuation or solicitor fees.
Learn more about how this might affect leaseholders in flats.
If you own a shared ownership home, you can buy more shares over time. This is called staircasing.
You can staircase up to 100%, depending on what’s allowed in your lease. This guide explains how it works and what to do next.
Quick facts
- You can buy shares in multiples of 5% or 10%
- You can staircase three times up to 100%
- It's called interim staircasing when you buy a share that doesn't get you 100%
- You’ll pay the current market value for each share percentage you wish to buy
- You must be able to afford the purchase and any legal or mortgage fees
- Your rent account must be up to date
- Your lease includes full details on staircasing
Staircasing caps
Some homes are subject to an 80% staircasing cap.
These restrictions are the result of planning permission put in place to make sure your home does not become available as a second home.
Check your lease to see if this applies to you.
Staircasing costs
The cost of staircasing will depend on things like the amount of shares you’re buying, your property type and location, but typically include:
- a RICS valuation report* – to set the current market value of your home
- solicitor fees – for your conveyancer to handle the legal work
- stamp duty – if you’re buying shares over a certain value (your solicitor will confirm if this applies)
- mortgage fees – depending on your lender and the amount you want to staircase
- our administration fee
*A property valuation from a qualified surveyor registered with the Royal Institution of Chartered Surveyors (RICS).
As per the terms of your lease, your staircasing transaction must also be completed within three months of the valuation date. If an extension is required, you’ll be responsible for any related costs (updates are usually only valid for a further three-month period).
View our full list of admin fees
How to staircase
There are five steps to follow:
- Step one: Check your finances
We recommend checking your affordability with an independent financial advisor.
They’ll help you understand:
- how much you can afford to buy
- what fees to expect
- whether this is the right time for you to staircase
- Step two: Get your home valued
You need to get your home valued by a surveyor who is registered with RICS or FRICS – this is a requirement in your lease.
You can use one of our recommended independent surveyors at discounted rates or choose your own surveyor, as long as they meet our criteria.
Instructing your own surveyor
If you’d prefer, you can use your own surveyor instead of choosing one from our panel.
To make sure the valuation is valid, your surveyor must meet certain requirements and include specific details in their report.
Your surveyor must be:
- independent (not linked to an estate agent, lender or bank, and not related to you)
- registered with RICS or FRICS
Your valuation report must:
- be valid for three months (you’ll need an extension if the process takes longer)
- include at least three comparable sales from the last three to six months*
- confirm that we can rely on its contents
- separate general decoration and maintenance from home improvements**
- provide a value assuming your home has been maintained to a good standard (as required by your lease)
*Surveyors on our panel also have access to our staircasing and resale valuations. If your surveyor is external, we recommend they email us for this information.
**Improvements like new kitchens or bathrooms don’t always add the same value as the cost of the work. Your surveyor will explain how this is reflected in their valuation.
- Step three: Send us your valuation
Once you’ve received your valuation and are ready to go ahead, send us:
- your full valuation report
- your home Improvements form (if relevant)
- a short note confirming your intent to buy more shares
- your contact details and property address
Send us your documents by email
If you carried out any home improvements
You''ll need to declare them by completing our Home Improvements application form.
Download the Home Improvement application form (PDF), fill it in and email it back to us.
You must also submit our written consent for the proposed works, along with the corresponding receipts or invoices.
- Step four: Pay our admin fee and confirm your solicitor
Once we’ve reviewed your valuation, we’ll calculate the cost of your new shares and contact you within 10 working days to pay an administration fee.
Payments are taken by card over the phone on 0208 189 7465 (Option 1, then Option 2).
After you’ve paid, we’ll send:
- a letter confirming your staircasing premium
- a Staircasing Confirmation form for you to complete
You'll need to:
- let us know how many shares you’d like to buy
- share your solicitor’s details
You can use your own solicitor, or we have a panel of independent conveyancing solicitors who are experts in shared ownership.
View our list of conveyancing solicitors
When you return the form, we'll instruct our solicitors to open a file for your transaction.
We can’t move forward until you return your signed form. If we don’t receive a response within 10 working days, we’ll send you a reminder.
We’ll then close the file if we have not received the form once the valuation has expired.
- Step five: Final steps
We’ll issue a Memorandum of Staircasing to record that you have bought more shares – this document needs to be signed by you and us.
If you reach 100% ownership and currently pay a service charge
Your solicitor will let you know if you need to continue paying us or the third-party agent directly after completion.
When no third-party is involved, you may have to continue paying a service charge directly to us, subject to the terms of your lease.
If you reach 100% ownership and do not currently pay a service charge
You will no longer have to pay us rent or have further communication with us.
After you’ve bought more shares
Once completion takes place, our team will adjust your rent and, if applicable, service charge account within 14 days.
We’ll also refund any surplus on your account. To receive this directly, get in touch with our Income team.
Tip: Keep all your documents in a safe place. You may need them if you sell your home or repay more of the loan in future.
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