Staircasing is when you can increase the share you own until you eventually own all of your home and no longer pay us any rent. You can normally buy more shares in multiples of 10% or 25%. You'll never be asked to buy more of your home, it’s entirely up to you.
You’d like to buy more shares in your home, what now?
Have a look at your lease to see if you can buy more of your home. If you can, and you’d like to please give us a call or send us an email.
Your home will be valued by a Chartered Surveyor so we can work out how much your extra shares will be. If you've made any improvements and the value of your home has increased as a result, it will not be counted in the valuation.
You'll have three months from the date of the valuation to buy more shares.
What happens to your rent payments?
When you buy more shares, we'll reduce your rent by the same percentage. For example, if you decide to increase from 50% to 75% ownership, your rent will go down from 50% to 25%.
Unless you staircase to full ownership, your rent will never drop lower than £250 per year, as this is the minimum amount allowed under the Leasehold Reform Act 1989.
What will you have to pay?
The valuation fee, our fee for staircasing and your solicitor's fees.