Staircasing for Shared Ownership

As a leaseholder of a Shared Ownership property bought either new, as a resale or via Social HomeBuy, you can buy further shares of your property.

This process is known as “Staircasing”, enabling you to own a greater proportion of your home. The greater the share you buy of your home, the less rent you pay to Peabody. If you Staircase to 100% you become an outright owner and pay no rent.

Staircasing - Buying more shares in your Shared Ownership home

The price you pay for any extra share is based on the market value of your home at the time you wish to buy, which could go up or down. The value will be set by an independent RICS-qualified valuer. There will be some costs involved in Staircasing such as a valuation fee and solicitor’s fees, although it shouldn’t cost as much as buying your first share.

Buying additional shares of the property is known as 'Interim Staircasing'. However, if you staircase to 100% (either in one transaction or after one or more interim Staircasings) the share that takes you to 100% ownership is known as 'Final Staircasing'. When this occurs, you own the property outright and are no longer a shared owner. In this case you will not pay rent to Peabody but you will still pay the service charge and may have to pay an annual ground rent.

Download A Guide to Staircasing

Ready to Staircase and buy more shares?

The first step to Staircasing and buying more shares in your home is to download the Staircasing Enquiry pack and complete the steps detailed within. Once submitted, your request will be processed by our dedicated Staircasing team who will support you.

Download The Staircasing Enquiry Pack

What are the benefits to Staircasing?

Most people aspire to own their own property and you made the step towards this when you bought your affordable home, even if you do not own outright.

Buying a greater proportion of your home has a number of benefits:

- You reduce the amount of rent you are paying to Peabody.
- If you decide to sell your home, the greater percentage you own the more profit you will make if the value of your home has increased.
- If you own your property outright (become a 100% owner) you can sell your property on the open market using an Estate Agent of your choice.

If you are thinking about Staircasing, you should get in touch with an Independent Mortgage Advisor (IMA).

They will take time to understand your finances and help to calculate how much you can comfortably afford to Staircase, based on the anticipated value of your home.

Download A Guide to Staircasing