What is Staircasing?

If you own a Shared Ownership home, ‘staircasing’ is the word that describes the process of purchasing more shares of your home. This can be done up to 100% (where the HA allows) or in smaller increments.

You can choose to staircase at any time, but it would usually be sensible to do this when your mortgage deal comes to an end, so you don’t have to pay ERCs. You will need to contact your Housing Association to gain approval to staircase. As part of this they will need to arrange a RICs surveyor to value your home. Your HA team will explain all this to you, and will be on hand to help you through it.

You will then purchase your new shares in the property at the new property purchase value. As your shares in the property increase, the rent you are paying will decrease to reflect this.