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Buying more shares in your home

When you buy extra shares in your home, your lease will refer to this as 'staircasing'.

In most cases you can buy enough shares (provided you buy a minimum of 10%) until you own your home outright. However, there might be restrictions on the maximum amount of shares you can buy or when you can buy them. We will discuss this with you when you first buy your home.

The amount you pay for the extra shares is based on the open market value of your home at the time you buy them. The valuation must be carried out by a Royal Institute of Chartered Surveyors registered surveyor.

If you have made improvements to your home, which have been approved by us, you will need to tell the surveyor about these and ask them to carry out two valuations: one which takes the improvements into account and one which does not. We will then use the valuation which does not include the improvement to calculate the cost of the extra shares.

Once you have bought more shares, your rent will reduce. Your Home Ownership team will be able to confirm your new rent figure, allowing you to calculate the extra shares you can afford to buy.

You will have to pay any costs associated with buying more shares, such as valuation fees and solicitors’ fees.

We have created a calculator so you can to work out how much the cost of buying new shares could be, to see this go to buying more shares calculator, and then if you want to apply we have an online application form.