Buying more shares in your Shared Ownership home is known as staircasing.
Usually once you have lived in your home for a certain period you can buy further shares in your property.
The greater the share you buy in your home the less rent you will pay to your Housing Association. If you staircase to 100% you become an outright owner, and you will no longer need to pay rent.
You may acquire additional shares in your property at a price equal to the relevant proportion of the current full open market value of the property.
Staircasing can seem daunting. If you already own a Shared Ownership home and want to buy more shares – possibly right up to 100% outright ownership – Mortgage Superheroes can help. We will talk you through the process, assess what additional shares you can afford to buy and advise and arrange your mortgage for you.