Buying more shares in your shared ownership home

Your lease has all the details about buying more shares in your home. Your lease is a valuable source of information about staircasing, take a look or contact us for more support.

Opportunities to buy: you can typically get three or more chances to buy additional shares, eventually reaching 100% ownership if you want.

Buying shares: shares must be bought in multiples of 5% or 10%.

Affordability: you must be able to afford the new shares plus any associated legal, mortgage and *administrative fees.

*An administration fee of £350.00+VAT for partial staircasing or £500.00+VAT for full staircasing, is payable to Home Group

Once you inform us of your intention to proceed with staircasing, we will send you a pack with the following: 

• Your step-by-step guide
• An intention to staircase form  
• An estimate of your home’s value  
• Information regarding the Freehold, if applicable. We will provide guidance on this
• Case handler’s contact details 

This package provides all the information needed to help you move forward with confidence in your staircasing journey.

We’ll provide you with an estimate on the current market value of your home. This will help you make an informed decision about how much you can staircase and if it's financially wise to do so now. 

Talk to your lender or an *independent financial adviser 

If you are planning to fund your purchase through re-mortgaging or a further advance, start by consulting a financial adviser. They’ll help you determine if you can afford to buy more shares. 

Financial assessment  

We may also need to carry out a financial assessment to ensure you can afford the additional shares. 

Getting professional advice and going through these steps ensures you are making the best decision for your budget and future! 

*The Mortgage People are an Independent Mortgage Advisory service who specialise in affordable home ownership schemes with access to all lenders and have experienced advisors. 

The valuations report will need to be from a RICS (Royal Institute of Chartered Surveyors) or FRICS (Fellow of Royal Institute of Chartered Surveyors) registered surveyor.  

​Choose a surveyor 

Select your own or use the RICS official directory of member firms. Surveyors must be:

• Independent (not associated with estate agents)
• Have no relation to you 
• Not be employed by any bank or building society 
• Hold the qualifications of FRICS or RICS (Assoc. RICS is not accepted)  

The valuation report

It should:

• Include at least three comparable properties used to determine the value 
• Grant us permission to use its contents 
• Detail any home improvements that Home Group has given written permission for. Providing a value, if any, on each improvement. Contact us if you need more information

Additional information

• We may ask the surveyor to justify the valuation provided  
• According to your lease terms, your staircasing purchase must complete within three months of the date of your valuation report
• You should also be aware that if the value of your home changes and a new valuation is required, we will adjust your staircase premium accordingly, regardless of whether the value increases or decreases

• Send the completed intention to staircase form back to us along with a copy of the surveyor’s valuation report and proof of funds 
• Your application cannot proceed until we have received these documents in full
• The valuation report is valid for three months, so prompt action is essential​

Administration fee 

Pay the required administration fee.

Verify your identity 

By law, to proceed with purchasing more shares in your home, you must complete a digital ID verification check we’ll send you a link to use an app called Credas.  

The app verifies your identity and the source of your funds for us. 

Instruct a solicitor 

You can either instruct the solicitor who conveyed your initial purchase or choose a new solicitor to handle the legal aspects of your staircasing process. 

Review and confirm 

We'll review the valuation report, confirm the terms of purchase, and send you an offer letter outlining the terms of sale. 

Confirm your intention 

On receipt you will need to return the offer accepted form to confirm your intention to buy more shares in your home. 

Legal process initiated 

We will instruct our legal team to contact your solicitor to proceed with the conveyance of your purchase. 

Our support 

Your case handler will keep you updated, and our legal team will respond to all enquiries to ensure smooth progress. 

Stay in contact 

Keep regular communication with your solicitor for a smooth and timely sale process. 

This ensures that all aspects of your staircasing transaction proceed efficiently. 

Once we receive all funds from your solicitor, your rent and service charge will be adjusted from the completion date.  

If you pay rent and service charge by direct debit, we will update your payment accordingly. 

Additionally, depending on your specific situation: 

Buying 100% with service charge 

If you're purchasing 100% of your home, typically an apartment, and currently pay a service charge managed by a third-party managing agent, your solicitor will advise if you need to continue paying us or pay the managing agent directly after completion. If there is no third party involved, you'll continue paying service charges directly to us. 

Buying 100% without service charge 

If you're buying 100% of your home, typically a house, and do not currently pay a service charge, you won't need to pay rent or have any further communication with us. 

Buying less than 100% 

If you're purchasing less than 100% of your home, we will update our records with your new share and confirm the adjusted rent figure you'll need to pay. 

Your solicitor will notify the Land Registry of the changes to your ownership, including the acquisition of the freehold, if applicable. This ensures all legal records are updated accurately to reflect your ownership status.