Staircasing: Increasing the Share You Own of Your Shared Ownership Home
What is Staircasing?
Staircasing is the process of buying further shares in your Shared Ownership home. If you bought your home through Shared Ownership, you are able to purchase further shares in your property when it is affordable for you to do so.
Staircasing enables you to gradually build up the amount of your Shared Ownership home that you own. For example, if you started by owning 25% of your home, you could buy another 25% share, which would mean you own 50%. Dependent on the terms of your lease, can own up to 100% of your home.
Benefits of Staircasing
1. Pay less rent. By reducing the percentage of your property that you rent, you will also cut your monthly rent.
2. Benefit from any increase in house prices. The more of your home that you own, the greater you’ll benefit if its value increases.
3. Freedom to sell. 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.
Find out more about Staircasing, and use our calculator to find out the estimated monthly cost of your rent, here.
Are you looking for a stylish and modern home in London or the South East?
Southern Home Ownership is dedicated to providing stylish, high quality and contemporary new homes for sale on a Shared Ownership basis.