Shared Ownership Staircasing

Staircasing refered to buying additional shares or percentages in a home purchasing used a shared ownership scheme.

Depending upon the type of shared ownership mortgage that you have taken out, you will be able to buy a particular amount, but the proportions are usually broken down into 25% of a property at a time.

The cost of staircasing within a shared ownership property depends entirely upon the value of the property at the time of purchase.

Once you own 100% of the property you effectively own it on a long lease and not freehold. Therefore you will still have to pay ground rent on the property to the housing association, but this is a very small low figure and is much what you would expect from buying a flat and paying maintenance for the building.