Selling a larger share than you currently own
Some buyers may wish to purchase a larger share of your home than you currently own. For example, buyer might wish to buy 60%, but you currently own 40%.
To make this possible, an interim staircasing transaction will take place. This is where you increase your share just before your sale completes, and then immediately sell that new share (60%) to the buyer, with the purchase of the additional 20% of the home funded by the incoming buyer.
Will it cost me more money?
There can be some additional legal costs associated with interim staircasing (typically around £400) and occasionally a valuation extension will be required. However, we will apply a £1,200 credit* to your completion statement. This should more than offset any additional costs, meaning there should be no financial disadvantage to you.
Will the transaction take longer?
In most cases, it should be faster. Interim staircasing as part of a resale is a well‑established and routine process for us. While it does involve an additional legal element, in practice these transactions often progress more quickly than standard resales. This is because staircasing transactions run to a fixed deadline linked to the valuation expiry date, and the case is actively progressed by our dedicated Staircasing Team, who work closely with all solicitors and parties involved to keep things moving efficiently.
Will this create more work for me?
We realise that you may need to arrange for an extension to your RICS valuation. This is because staircasing transactions require the valuation of the property to be less than 3 months old.
There might also be some additional documents to sign, but these should not be substantial and shouldn't delay your completion. Our experienced team will be on hand throughout, so you’ll always know what’s happening and what to expect next.
*Offer valid on resales transactions where the buyer is purchasing a share that is at least 10% higher than the share currently owned by the seller. The incentive is only available on eligible resale transactions completed through the interim staircasing process and cannot be exchanged for cash or transferred. We reserve the right to withdraw or amend this incentive at any time.