Staircasing Information

What is Staircasing?

Staircasing is the term used when you buy additional shares in your shared ownership property. You can do this in stages over time, or all at once if you're financially able.

How Staircasing Works:

Legal & Financial Process: You’ll need a solicitor and possibly a mortgage adjustment to complete the purchase.
Rent Reduction: As your ownership share increases, the rent you pay on the remaining share decreases.
Full Ownership: Once you reach 100% ownership, you no longer pay rent and will be able to sell the property outright.

Things to Consider:

Costs: Staircasing involves valuation fees, legal fees, and possibly mortgage fees.
Lease Terms: Check your lease for specific rules about staircasing.

Shared Ownership Staircasing Checklist

1. Review Your Lease

Some lease agreements allow staircasing in small increments (e.g. 1% annually), while others require larger shares such as 10% or more.

Stockport Homes Group can help you to check the lease if you require assistance or advice. Instead of increasing your share, you may want to buy it outright. If you’re unsure which shared ownership model applies to you, check your lease and Key Information Document, or speak to the Home Ownership team.

Note any clauses about valuation, fees, or notification requirements.

WE STRONGLY RECOMMEND TAKING INDEPENDENT PROFESSIONAL ADVICE ABOUT WHAT IS INVOLVED AND HOW TO PROCEED.

2. Assess Your Finances

Determine how much of an additional share you can afford. As your ownership share increases, the rent you pay on the remaining share decreases. Once you reach 100% ownership, you no longer pay rent, although some service charges may still apply.

Speak to a mortgage advisor or your lender if you need to borrow more to fund the purchase.

You will need to bring any rent or service charge payments up to date.

3. Contact Your Housing Provider

Inform the Stockport Homes Home Ownership Team of your intention to staircase and complete the necessary forms, or, complete the enquiry form here and our team will contact you and guide you through the process. When you confirm that you want to proceed please be aware that a £150 admin fee will be chargeable.

4. Get a Property Valuation

You will need to pay for the valuation. The valuation is typically valid for 3 months.

SHG will arrange for a RICS-certified surveyor to establish the market value of your home. The valuation will determine the cost of the additional share you want to buy.

For 1% staircasing (if lease allows), the House Price Index (HPI) will be used instead of a full valuation. If you do not agree with the valuation, you will asked to provide 3 examples of properties similar to yours which have sold in the last 3 months. We will send these to the valuer for further assessment.

5. Decide on the Share to Buy

Decide what percentage of the property you’d like to buy based on what you can afford.

Your share is calculated using the current market value of the home.

Remember, the larger the share you purchase, the greater your ownership will be, and the less rent you’ll pay on the remaining share.

6. Organise your funds

If you’re looking buy your extra share of property with a mortgage or remortgage, we recommend you take independent financial advice from someone who is FCA registered.

You’ll need to ensure your lender will lend you the funds to may the purchase before you proceed and also that you can afford the repayments.

Of course, if you’re buying using savings you won’t need to obtain a mortgage.

7. Instruct a Solicitor

As part of the process, you’ll need to instruct a solicitor to act on your behalf to formalise the purchase and your increased share of the property, update your lease, and register your new share with the Land Registry.

You’ll need to instruct an experienced in shared ownership staircasing.

They’ll handle the legal aspects of the transaction and liaise with our solicitor.’

8. Complete the Purchase

The whole process should take 8-12 weeks, depending on the complexity of the legal process.

Sign legal documents and transfer funds. Once the financing and legal steps are complete, you will officially own a higher share, and the rent will be recalculated based on the new ownership percentage.

Land Registry and Stockport Homes records are updated. You may receive a new lease or deed reflecting your new share.

9. Celebrate & Plan Ahead

Enjoy increased ownership!

Consider future staircasing if you haven’t reached 100% yet.

Summary of Leasehold Fees

Service	Charge (including VAT)
LPE1 Pack / Landlord Enquiries – Flats	£210.00
LPE1 Pack / Landlord Enquiries House	£150.00
Hard copy of enquiries	£24
Stockport Homes Resales Fee (Stockport Homes can charge up to 1% of resale value of your property if it sells your property during the nomination period.)
Resale Admin Fee (this charge is additional to the above resales fee or is charged separately if property is not sold in the nomination period).	£240
Processing staircasing/further purchase (shared ownership only)	£150
Processing staircasing/further purchase (shared ownership only)	£90
Additional solicitor enquiries/Admin fees	£48
Notice of transfer/charge	£72 - £90
Copy of lease	£48
Landlord letter charge	£18
Alteration Fee for consideration/permission	£90
Alterations Survey per hour (where needed)	£60
Initial Purchase Fees - Additional Documentation Fees: Please discuss any additional documentation fees with your legal representation as per your contract paperwork	These charges may vary from £150 to £200 plus VAT

To contact us with any queries about your lease, please email [email protected]

Tips

Costs to Expect: Valuation fee, legal fees, mortgage arrangement fees, and possibly stamp duty.
Valuation: An estate agency valuation will not be accepted.
Timeline: Typically 1–3 months depending on complexity and responsiveness of parties involved.
Full Ownership: If your lease allows, you can staircase to 100% and eliminate rent payments.
Freehold: If you live in a house, you will be granted the freehold title on the property if you purchase 100%. Your solicitor will be able to advise you on this.
Home Improvements: If you have made home improvements, please let Stockport Homes Group (SHG) and the valuer know, for example if you have fitted a new kitchen or added a conservatory. If the improvements have increased the value of the home, the valuer should disregard the value, this way you will not pay twice for improving your home. If the property needs essential repairs these will be disregarded, and the property will be valued as if it was in good condition. Stockport Homes Group will not approve a loss in value, due to the property not being kept in good repair and the valuer will be made aware of this.