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Shared Ownership Guide
Jargon Buster
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Shared Ownership Guide
A guide to all the low-cost home ownership schemes available if you are a council or housing association tenant, keyworker or first-time buyer

Buying further shares in your home (‘staircasing’)

Can I buy further shares in my property?
You can usually buy further shares in your home after 12 months or when you can afford to. You can buy shares in multiples of 10% or 15% (with a minimum of 10%).

You need to let your Housing Association know in writing that you would like to purchase more shares and they will obtain a valuation for you.

The Housing Association will calculate how much your additional shares will cost and then if you would like to continue with the purchase you can then instruct your solicitor to proceed.

You will be responsible for the valuation fee and the legal fees (which may include stamp duty) as well as any charges made by your mortgage lender. Full details will be set out in your lease.

You will usually be given three months to complete the purchase of the further share. If the purchase takes longer for any reason it will be necessary under the terms of your lease to obtain an up to date valuation for which there may be a charge.

You do not have to increase your share at any time if you do not wish to.

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