How to buy more shares

Once you have bought your property, you can buy more shares in it at any time. This is known as 'staircasing'.

The extra share you buy depends on the initial share you own, but it's likely to be at least 10 per cent. In most cases, you can staircase up to 100 per cent and buy your home outright.

What do new shares cost?

The value of your home will rise or fall along with the rest of the property market. The cost of the extra share you buy will reflect the current value of your home.

You will need to arrange for a valuation of your property from an independent qualified valuer. They will tell you the current market value of your home and fix the price you will need to pay for further shares. This valuation cannot be from an estate agent.

The valuer will ignore any improvements you've made to the home that increase its value. This is so that you will not pay again for the improvements.

You will have three months from the date of your valuation to complete the purchase.

How will my rent change?

Once you've bought extra shares, your rent will go down in direct proportion to the further share you have bought. For example, if you increase your share from 50 per cent to 75 per cent, your rent will halve.

If you buy all the remaining shares in your home you will stop paying rent. However, you will continue your payments for the service charge.

Are there any other costs?

Yes, as well as paying for the extra share, you'll have some other costs. They include:

  • an independent valuer's fee
  • your solicitor's fees
  • a building society valuation.

More information

If you would like more information about any of this, please call our Customer Services team on 020 8357 4444.