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Shared ownership

Buying more shares

As a shared owner you may have bought a 25% or 50% share in your home. To buy more shares, we use a system called staircasing.

If you’re a shared owner in Birmingham, each staircasing step is a minimum of 25%. In Telford, you can staircase by minimum of 10% and maximum of 25%. You can’t staircase immediately from 25% to 100%.

Once you’ve decided to buy more shares, please call us on 0300 333 6540 or email enquiries@bvt.org.uk. Our friendly staff can answer your questions and make sure you’re meeting staircasing criteria.

You’ll be asked to confirm in writing what percentage of shares you’d like to buy, and we’ll then arrange an independent valuation of your home, paid for by you. The purchase price for staircasing is based on this valuation and if you accept the valuation, you’ll need to arrange payment via your solicitor to ours. Once everything is complete, we’ll adjust your rent to reflect the lower percentage we own.

Selling your home

If you’d like to sell your home, you’ll need to contact an estate agent to put your share of the property on the market. Please tell us as soon as possible if you decide to sell your home.

Once an offer has been made, your potential purchasers will need to contact us to make sure they meet the criteria for becoming a shared owner.  When your potential purchasers have been approved, the process moves to the legal stage with our solicitor advising theirs of the shared ownership lease.

Alterations and repairs

As a shared owner you’re responsible for maintaining and repairing your home. We arrange building insurance, but not home contents cover. You must get our permission before making changes to your home, even if they comply with our design guides. To find out more, please go to our making changes to your home section.

Rent and other charges

As a shared owner, you pay a monthly rent for the percentage of your home we own and you rent. This is on top of any management charge you may pay to us. A convenient and quick way to pay rent is by setting up a direct debit. For more information about this, please go to our make a payment section.

Shared ownership lease extensions

A shared ownership lease typically lasts for 99 or 125 years from the start date written into the lease. Your solicitor should have given you a copy of your lease when you bought your home.

If you don’t have this, you can get a copy from the Land Registry for a small fee. Once there’s less than 70-80 years left on your lease, it can affect the value of your home and may make it more difficult to sell or re-mortgage.

If a shared ownership property is sold, the original lease is transferred to the new shared owner, rather than a new lease being created, so, the time left on the lease remains.

It’s important to remember mortgage lenders are often unwilling to provide a mortgage on a property where there’s less than 85 years left on a lease. This means trying to sell your home with a lease length shorter than this will be more difficult.

There is no statutory right to a lease extension but, where there is less than 90 years remaining on an existing lease, we’ll consider granting extensions on shared ownership leases on a voluntary basis.

Before completing the application for a shared ownership lease extension, please download and read our Frequently Asked Questions below. To apply to extend your lease, please complete the form at the bottom of this page.


Shared Ownership Lease Extension Request Form

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