Staircasing
Want to own a bigger share of your home? Staircasing allows Shared Ownership customers to buy additional shares in their property over time, helping you move closer to full home ownership when the time is right for you.
As a Shared Ownership homeowner, you have the option to buy additional shares in your property over time. This is known as staircasing.
You can choose to increase your share whenever you're ready and able to do so, with the opportunity to own up to 100% of your home if you wish. The decision is entirely yours and there is no obligation to staircase.
The cost of any additional shares is based on the current market value of your home. For example, if your property is valued at £300,000 and you would like to buy an additional 25% share, the cost would be £75,000.
Before you begin, it's important to check your lease, as this sets out the staircasing process for your home. We also recommend seeking independent legal advice from your solicitor.
Why staircase?
There are a number of benefits to buying a larger share of your home:
- Pay less rent - As your ownership share increases, the amount of rent you pay to Gateway reduces.
- Build more equity - The larger your share, the greater your potential return if you decide to sell your home in the future.
- Enjoy greater flexibility - If you staircase to 100% ownership, you can usually sell your home on the open market through an estate agent of your choice.
Learn more
To find out more about how staircasing works, watch our staircasing video and explore our latest webinar.
Our Staircasing Guide provides a step-by-step overview of the process, including what to expect, the costs involved and the key stages along the way.
Ready to take the next step?
Download our Staircasing Application Form to get started.
If you have any questions, we're here to help. Contact our Sales Team at sales@gatewayhousing.org.uk and we'll be happy to guide you through the process.