Your Step-by-Step Guide to Staircasing

Shared ownership can be a brilliant way to get a foot on the property ladder – and staircasing gives you the chance to climb even further. Whether you’re aiming to reduce your monthly rent, build more equity, or reach full homeownership, understanding the staircasing process will help make the journey smoother and more rewarding. In this guide, we’ll walk you through each step of the process with helpful advice, tips tailored to the UK market, and real-world insights to help you make informed decisions.

Step 1: Getting Ready to Staircase

💳 Know Where You Stand Financially

Before you do anything else, take a good look at your finances. Ask yourself:

• How much do I have saved?
• Can I borrow more on my current mortgage, or do I need a new deal?
• What are the extra costs I need to plan for – valuation, solicitor fees, stamp duty (in some cases) Some lenders include free or discounted legal fees as part of their staircasing mortgage deals – ask your broker what’s available.
• Does your lease allow staircasing to 100%? Check your lease, it will confirm the minimum and maximum % amount that can be purchased and in some cases how many times you are permitted to staircase.

Sorting out your finances early on will make the rest of the process quicker. It’s a good idea to speak to your lender or find a mortgage broker who knows the ins and outs of shared ownership – some even have access to exclusive staircasing deals.

Tip: Many UK banks offer specialist staircasing mortgages. With interest rates changing frequently, it’s worth comparing options before committing.

🔎 Understand the Market

Knowing what your home is worth will help you plan your next steps. Use sites like Rightmove or Zoopla to see what similar properties in your area are selling for. You can also get free estimates from estate agents – just bear in mind that these aren’t official valuations.

📈 Book a RICS Valuation

To staircase, you’ll need a formal valuation from a surveyor registered with RICS (Royal Institution of Chartered Surveyors). This is essential – estate agent estimates won’t be accepted.

Here’s what your valuation must include:

• An in-person inspection by a RICS-registered surveyor
• At least 3 comparable sales from the past 6 months
• Consideration of any approved improvements you’ve made if you are planning on buying the remaining shares to final staircase

Valuations are valid for 3 months. Try to complete your staircasing within that time to avoid extra costs.

🏡 Have You Improved Your Home?

If you’ve made major changes – like adding a conservatory  – these could increase or decrease your home’s value. Be sure to tell your valuer, and check that you had prior written approval for the work. Home improvements that have not received our prior approval won’t be included.

Only when you staircase to 100% ownership will you fully benefit from the added value of home improvements.

Bring in the Experts

Choosing the right solicitor and mortgage adviser can make a world of difference. Look for professionals with shared ownership experience – your solicitor should be on your lender’s panel and ideally have handled staircasing cases before.

You can find a solicitor using The Law Society’s search tool.

Step 2: Apply to Staircase

Once you have your valuation, checked your lease, got your finances and lender (if applicable) in order,  you’re ready to formally apply to staircase. Get in touch with us to register your interest in staircasing. We’ll review your lease, confirm that you’re eligible, and advise you on the minimum or maximum number of shares you can purchase based on your agreement.

This early step is important for setting expectations and planning your next move.

You’ll need to send us:

• The RICS valuation report
• A completed staircasing application form
• Full contact details for your solicitor
• Copies of your ID. You will be required to complete an anti money laundering ID check

After reviewing your application, and conducting any required checks (such as a anti-money laundering check), we’ll issue a Memorandum of Sale. This document outlines:

• The cost of the additional shares (known as the staircasing premium)
• The new rent you’ll pay
• Any applicable service charges or ground rent

This forms the official basis for your staircasing transaction.

Step 3: Let the Legal Work Begin

With the Memorandum of Sale in hand, your solicitor will now take over the legal process. They will:

• Liaise with our legal team to complete the paperwork
• Coordinate with your mortgage lender (if applicable)
• Work with you to agree on a completion date

This is also the time to:

• Finalise your mortgage offer (if you’re borrowing more)
• Make sure all your funds are ready for completion

Step 4: Completion Day

On the agreed completion date, your solicitor will transfer the funds to us. We will also require:

• Any outstanding rent or service charge payments to be settled
• At least five working days’ notice to prepare the completion statement

Once payment has been made and paperwork completed:

• Your solicitor will register your updated share of ownership with HM Land Registry
• If you now own 100%, you may need to pay ground rent – this depends on the terms of your lease as some apartments may need to start paying ground rent from 100% ownership. Service charges will continue to apply to apartments and houses may still need to pay towards estate costs on a monthly basis, this will be noted on the Memorandum of Sale and communicated throughout the conveyancing process.

Congratulations – you’re officially the owner of more of your home!

Other Things to Know

If you’re planning to change the names on the lease – such as adding a partner or removing a co-owner – let us know as early as possible.

✉️ Adding or Removing Owners

Here’s what to expect:

• Extra legal work may be needed
• Additional fees might apply
• If you’re not staircasing to 100%, eligibility checks may be required for the new party to ensure that they are eligible for the Shared Ownership Scheme

⏱️ How Long Will It Take?

Every staircasing case is different, but on average, the process takes 2 to 3 months from start to finish.

To help keep things on track:

• Book your valuation as soon as possible
• Choose an experienced solicitor
• Respond to emails and requests promptly

Always aim to complete your staircasing within the 3-month validity period of your valuation to avoid needing (and paying for) a new one.

Why Staircasing Can Be a Smart Move

Private rents in the UK have increased by 9.2% in the year to March 2024 (ONS, 2024). With interest rates now showing signs of settling, staircasing could help you:

• Cut your rent costs
• Build equity in your home
• Reduce your home insurance premiums by becoming a full owner (for houses only)
• Gain more control over your property

Whether you’re investing in your future or simply looking to save on monthly expenses, staircasing offers more stability and long-term value.

Ready to Celebrate?

Whether you’ve just bought a few extra shares or reached 100% ownership – congratulations! You’re one step closer to full homeownership, with all the benefits that brings.

And remember: we’re here to help at every stage. If you’ve got questions, need guidance, or just want to understand more about staircasing, our friendly team is ready to support you. Read our staircasing guide for more information and begin your journey.