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Selling back shares in your shared ownership home
Downward staircasing - a guide to selling back shares in your shared ownership home
The process that lets you sell back shares of your shared ownership home to Home Group is known as downward staircasing, sometimes also called flexible tenure.
It’s intended to help if you’re in danger of losing your home because of financial hardship so it only available in exceptional circumstances.
Downward staircasing FAQs
Who can apply?
Shared owners can apply for downward staircasing depending on the terms of their lease. It's only available in exceptional circumstances, as it’s intended to help if you’re in danger of losing your home because of severe financial hardship.
The amount you can sell back depends on your circumstances and whether we have the public funds available to support this. We’ll consider each application individually in line with criteria set out by the government.
When can I apply?
If you’re in danger of losing your home due to financial hardship you can apply for downward staircasing.
We're here to help, so please get in touch so we can chat you through your options.
How much will it cost?
Shared owners are responsible for paying:
- The property valuation fee
- Their solicitor fees
- Associated Home Group legal fees
- Any mortgage redemption and administration fees
- Homeowners home
- Make a payment
- Buying more shares in your home
- Selling your shared ownership home
- Selling back shares in your home
- Selling your discount for sale home
- Documents required when selling your home
- Leasehold retirement information
- Homeowner service charges
- Insuring your home
- Factoring
- EWS1 form
- Anti-social behaviour
- Repairs information for homeowners