Buying More Shares in My Home

Buying more shares in your home is called ‘staircasing’. It means that you can own more of your home and the more shares you buy, the less rent you have to pay us.


You can usually staircase up to 100% of your property and this should take four stages (your lease will confirm if you can do this)
 

  • Contact us when you want to buy more shares and we’ll arrange for an independent valuation to be carried out at a cost to you
  • The valuer will contact you to arrange a time to visit your home
  • When you receive the valuation, let us know in writing or email how much more you want to buy
  • Find a solicitor to act for you (you’ll be responsible for the fees)
  • The valuation lasts for three months and you’ll need to complete your purchase within this time.


Staircasing to 100%:
 
  • If you live in house, you’ll become the freeholder of your home and you’ll need to have buildings insurance. If you live on a development with communal areas, you’ll also have to pay a share of the cost to upkeep them
  • If you live in a flat, you’ll become a leaseholder and pay service charges for things like building insurance, cleaning to communal areas and repairs to the building
  • If you sell your property within three months of owning 100% at a higher value, you have to repay a percentage of the profit back to us. This repayment is based on the extra shares you purchased during the final transaction.

     

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