Shared Ownership

How does Staircasing work?

If you decide to buy a further share of your home, it will be necessary for an independent valuation to be obtained and will need to write to us confirming that you wish to purchase a further share and that you require a valuation to be carried out.   The cost of the valuation is payable by you and this must be paid prior to the valuation taking place.

Once the valuation has been carried out a report will be prepared and sent to you.  The valuation will determine the amount you will be required to pay for the additional share.

After receiving the valuation, if you still wish to go ahead with your purchase you will need to tell us and instruct solicitors to act on your behalf.  You will have a set period of time within which to complete the purchase  which is normally within six months of the valuation date.

If you live in a flat and purchase up to 100%, the Association will continue to be the freeholder of the property.

If you decide you want to purchase further shares please contact Home Ownership Services.

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