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As a shared owner, you are entitled to buy more shares in your home at any time, this is called ‘staircasing’. Most shared owners can buy 100 per cent of the shares in their home so that they own the property outright and no longer pay us any rent. There are some older properties where you might not be able to buy the full 100 per cent but you can buy up to 70 or 80 per cent. Your lease will give you all the details. You can buy in minimum 10 per cent tranches.
Before you make the decision to buy more shares, it is important to understand the costs related to the staircasing process. This will include paying for a valuation, a solicitor and any mortgage related costs. In addition, your rent and service charges account must be up to date and they must remain so throughout the process.
Most shared owners have always wanted to buy more shares when the time was right. But we recognise that buying more shares in your home is a big decision. Please contact us to discuss your options and next steps.
All of our new build and resale Shared Ownership homes are available to view on the Share to Buy property portal. Use the link below to search for available homes, view property images and enquire to arrange a viewing.