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 are a shared owner with us in Birmingham, each staircasing step has to be a minimum of 25%. In Telford, you can staircase by a minimum of 10% and a maximum of 25%.
You can’t staircase immediately from 25% to 100%, it has to be done in phases.
Once you have decided to buy more shares in your home, these are the steps to follow.
- Call us for an initial chat. Our friendly staff can answer your questions and make sure your proposal meets the criteria for staircasing.
- Once you have spoken to us, you will need to confirm in writing what percentage of shares you wish to buy
- When we receive your written confirmation, we will arrange an independent valuation of your home. This valuation will need to be paid for by you. The purchase price for staircasing is based on this valuation.
- If you accept the valuation offer, you will need to arrange payment of the sum via your solicitor to our solicitor
- Once complete, we will adjust the rent you pay us to reflect the lower percentage that we own.
For more information, please contact our Customer Services team by emailing firstname.lastname@example.org