Staircasing

 

 Staircasing Your Shared Ownership Home


Take the next step towards full homeownership with Auxesia Homes. Whether you are looking to reduce your rent, build more equity, or eventually own your home outright, staircasing gives you flexible options to increase your share in your property at a pace that suits you.

What is staircasing?

 

Staircasing allows you to purchase more shares in your Shared Ownership home over time. The more you own, the less rent you pay. Once you reach 100 per cent ownership, you own your home outright and no longer pay rent, although service charges and ground rent may still apply depending on your lease.

 

There are two types of staircasing:


Standard staircasing: buy additional shares of 5 per cent or more at any time based on a RICS valuation

Gradual staircasing: buy 1 per cent shares annually if your home has a new Shared Ownership lease issued since 2021

 

Why staircase?

  •  Reduce your monthly rent
  •  Build long-term equity
  •  Increase your mortgage options
  •  Gain more control over your home
  •  Move towards full ownership
  •  Improve your ability to sell in future

 

How staircasing works

 

Here is how the process works at Auxesia Homes:

 

1. Get a guide value

We will send you a link to Stairpay for an estimated market value. This is ideal for budgeting and planning ahead.

 

2. Contact us

Email staircasing@auxesiahomes.co.uk to start the process.

 

3. Pay for your valuation

We will instruct an independent RICS surveyor to carry out the valuation, as required by your lease.

The cost is £300 and must be paid before we can proceed.

 

4. Receive your valuation report

This will confirm the current market value of your home. The valuation is valid for three months.

 

5. Choose how much you want to buy

Decide the share you would like to purchase. This must be a minimum of 5 per cent, unless your lease qualifies for 1 per cent gradual staircasing.

 

6. Secure your finances

You can fund the purchase using savings or by remortgaging with a lender who supports staircasing.

 

7. Appoint a solicitor

Your solicitor will manage the legal process and update your ownership share.

 

8. Legal completion

Once all legal steps are complete and payment is made, your new share will be recorded and your rent will be reduced.

 

9. Confirmation

You will receive written confirmation of your new ownership share and updated rent amount.

 

 

How long does it take?

 

Staircasing typically takes up to 16 weeks, though it may be quicker depending on your solicitor, valuation and mortgage arrangements.

 

Costs to consider


  • RICS Valuation (via Auxesia): £300 (fixed)
  • Legal Fees: £500 to £800
  • Stamp Duty: Varies depending on share value and whether you deferred it initially
  • Mortgage or Broker Fees: Varies depending on lender

 

Using Stairpay


Auxesia Homes uses Stairpay to help you get a quick, free estimate of your home’s current value. This can help you decide whether staircasing is right for you, before committing to a formal valuation.
You can access the Stairpay portal here by clicking HERE.

 

Ready to staircase?


If you are thinking about staircasing, our team is here to help.

Contact us at staircasing@auxesiahomes.co.uk for further guidance.

 

Summary of benefits

  • Reduced rent as your ownership share increases
  • Ability to build more equity in your home
  • Greater financial control and independence
  • Access to improved mortgage terms
  • Fewer restrictions at 100 per cent ownership
  • More flexibility when selling in the future
  • A clearer path towards full homeownership