How 1% staircasing works

All shared owners can staircase in the ‘traditional’ way (read more HERE), but customers with a new Shared Ownership model lease are also eligible to staircase in increments of 1% every year for the first 15 years of ownership.

  1. Once a year we’ll send you the valuation for the cost to buy an additional 1% share of your home. This valuation is determined by the UK House Price Index. If the timing isn't right for you to buy an additional 1%, you can contact us for an updated 1% valuation at any point in the year. These valuations are valid for 3 months.
  2. If you do want to purchase an additional 1% in that year, then you must tell us - the easiest way to do this would be to contact our Staircasing team via email
  3. We'll carry out the necessary checks, and once everything is ready, we'll contact you with the next steps, including instructions for transferring the cost of the 1% share to us. Please note, this cannot be paid via a mortgage.
  4. We send you a statement confirming the share you now own and reduced rent payment.
  5. Land Registry is informed of the new share of the property that you own.

Please note:

  • You cannot 'roll over' 1% staircasing transactions from year to year. If you wish to buy more than 1% in a given year then you can do so via traditional staircasing.
  • Stamp duty will be payable if your staircasing transaction take the shares you own to 80% or more.

FAQs