How do I buy more of a share in a Shared Ownership property
Once you have bought a property you are able to buy additional shares by a process known as ‘staircasing’. The price for additional shares will depend on the value of the property at the time you buy that extra share. This means it will cost more than your first share if property prices have increased. There are also additional costs which will be payable in addition to the price.
Usually staircasing must be in 5% shares or more at a time, however properties purchased from 2021 may allow staircasing of 1% shares at a time.
It should be noted that Shared Ownership properties located in what are known as ‘designated protected areas’ may limit staircasing to a maximum ownership of 80%, and even if this is not the case, it is usually a requirement to sell back to the landlord or another eligible buyer that the landlord nominates.
Please note that all information provided in this FAQ is for general reference only. It should not be used as a sole or definitive source, nor is it intended to be used for decision making in place of appropriate advice from a qualified legal professional. As such the information is provided as-is and Brevis cannot accept any responsibility or liability for any loss or damage resulting from any errors or ommission in, or any reliance on, information contained in this guide.