Are you thinking about increasing your share in your Shared Ownership home? We’ve rounded up some important considerations about staircasing to help you make your decision.
Increased equity
Staircasing provides a clear, well-structured way for you to increase the share of your home that you own, helping you build up more equity in the property. Plus, if your home goes up in value, you’ll benefit from a greater share of those increases should you decide to sell. And once you have staircased your way to full ownership, you can sell your property on the open market.
Reduced rent
As you grow your share in your home, the amount you pay in rent will decrease - but be aware that your mortgage costs will increase if you’re funding the transaction with a mortgage.
Legal fees
Don't forget, there are fees associated with buying more shares. Just as you did when you bought your initial share, you’ll have to pay legal/conveyancing fees each time you staircase, so it might be beneficial to maximise your share each opportunity you get.
We'd always recommend using a solicitor that is familiar with staircasing transactions to help you keep things on track. Visit our solicitors panel for a list of experienced solicitors who can give you tailored advice.
Moira Mulvey, a self-employed osteopath who bought her home with Shared Ownership and has gone through the staircasing process, advises shopping around to keep these fees as low as possible. She explains:
“The suppliers you use – such as conveyancers – can be expensive. You just have to make sure you do your research and shop around – don’t necessarily use the same suppliers you previously went with when you bought your first share. The original conveyancers I used quoted me double to do it the second time around, so I went with a different company.”
Make a plan
When you first buy your Shared Ownership home, think about a plan to staircase in future and how your circumstances might change to enable you to do so. For example, you could consider staircasing when you are renewing your mortgage, receive a pay rise, have a partner move in or if you receive an inheritance or windfall. Mapping out when might be the right time to staircase can help you take a considered, proactive approach to doing so. Moira did so and immediately noticed the difference to her finances when she used an inheritance to grow her share of ownership in her home from 40% to 65%. She comments:
“I’ve really seen a difference in my monthly outgoings since staircasing. My mortgage has stayed the same as I haven’t renewed it yet, but the rent has decreased a lot which is amazing! My mortgage is up for renewal in 2026, so I’m hoping I can staircase further to full ownership then.”
House prices
It's a good idea to keep an eye on house prices. If they’re falling, it might be worth waiting to staircase, as the lower the value of your property, the more affordable growing your share of ownership could be (although other factors, such as interest rates, can also make a big difference). If property prices are trending upwards, it might be a good idea to grow your share of ownership before your property value rises and doing so becomes more expensive.
Stamp duty
Stamp duty is another key consideration. When you buy a Shared Ownership home, you can choose to pay stamp duty based on the full value of the property or just the value of the initial share you purchase. If you choose the latter, you’ll need to pay any outstanding stamp duty balance once your ownership share hits 80% or higher – so bear this cost in mind when staircasing to 80% ownership or more. (If you paid your stamp duty in full when you bought your initial share, you won’t have to pay any more when staircasing.)
Lifestyle
When deciding whether or not to staircase, consider whether your current home still fits your needs. You could potentially buy a larger Shared Ownership home if you need more space or if your finances allow you might wish to buy a home outright on the open market. Whatever your plans, it might be worth speaking to one of our expert broker panel who can provide you with help and advice.
The final point to bear in mind is that staircasing might be easier and less stressful than you think. As Moira points out:
“The staircasing process was incredibly easy, I managed to navigate it myself. SNG explained the process to me, and then I took it from there… The option for staircasing has allowed me to get out of renting and gradually own my own home, so I think it’s brilliant.”
Want more info?
If you are considering staircasing, you can find full details on the staircasing section of our website. Have a question? Contact the team:
South & West customers: staircasing@sovereign.org.uk or call 0300 330 0718
London customers: staircasing@networkhomes.org.uk or call 0204 512 5640