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Staircasing and Selling

Life After You Move In

Once you've settled into your Shared Ownership home, you might start thinking about what comes next - whether that’s buying more shares in your home or moving on and selling it. This page walks you through what happens after you’ve moved in, so you know your options and what steps to take. You can also watch episode 4 of our Shared Ownership Unpacked podcast to learn more. 

Check out our podcast!

Shared Ownership is often the first step on the property ladder, but what happens when your circumstances change? In this episode, we explore staircasing, remortgaging and selling a Shared Ownership home with Floris from Stairpay. We discuss when staircasing makes sense, what people should consider before increasing their share, and how to plan for the future.

 

Buying More Shares: What Is Staircasing?

Staircasing is the process of buying more shares in your Shared Ownership home. It gives you the flexibility to increase your ownership over time - up to 100% in most cases - at a pace that works for you.

Why Staircase?
  • Reduce your monthly rent - as you buy more shares, you pay less rent
  • Increase your equity - build your ownership in your property
  • Full ownership - own your home outright once you reach 100% (if your lease allows it)
How Does It Work?

Here’s how the staircasing process typically works:

  1. Receive a valuation - You’ll need a RICS-approved valuation of your home to calculate your share price.
  2. Make your decision - Based on the valuation, choose how much more of your home you'd like to buy.
  3. Secure your mortgage - You may need a new or additional mortgage.
  4. Legal and financial checks - Instruct your solicitor and complete legal paperwork.
  5. Purchase your new shares - Once everything is in place, you'll pay for the new shares, and your ownership will be updated.

The process is slightly different with the new model of Shared Ownership. Read more about the differences between the two models.

Are There Any Restrictions?

Most homes allow you to buy 100% of your property, but there may be exceptions (for example, in rural areas or some leasehold flats). If there are any restrictions, we’ll clearly explain them when you purchase and again when you enquire about staircasing.

Costs to Expect:

  • RICS valuation fee (valid for 3 months)
  • Legal fees
  • Mortgage arrangement or advice fees (if needed)
  • Stamp Duty (if applicable)

Thinking about staircasing? Get in touch with us to request a valuation or learn more.

Ready to staircase?

Selling your Shared Ownership Home

Can I Sell My Home?

Yes. Life changes, and so might your housing needs. As a Shared Owner, you're free to sell your home at any time whether - you own part of it or the full 100%. The process is slightly different depending on whether you still share ownership with Southern Housing or have staircased to full ownership.

How Selling Works
  1. Notify us – Let us know you want to sell.
  2. Get a valuation – we will arrange an independent RICS valuation.
  3. Complete a resale form – We’ll send you the paperwork.
  4. SHNH marketing period – We have 4–8 weeks (depending on your lease) to find a suitable Shared Ownership buyer. You do have the right to waive this period and go straight to selling on the open market. 
  5. Open market sale – If we can’t find a buyer in time, you can sell your home on the open market, a process called Simultaneous Staircase and Sale.
  6. Legal process – Instruct a solicitor to complete the sale.
What Are My Costs?
  • RICS valuation fee
  • Legal and conveyancing costs
  • Any admin or resale fees (check your lease)
What Does SHNH Do?
  • Market your property to eligible buyers
  • Handle enquiries and initial viewings
  • Support both you and the buyer through the process

Ready to move on?

Need Help?

We’re here to support you long after you move in. Whether you’re looking to buy more shares or ready for your next move, our friendly team is here to help.

Phone: 0300 555 2171

Email: sales.servicesenquiries@southernhousing.org.uk

Let us help you make the most of your Shared Ownership home.

To unpack Shared Ownership further, check out more episodes of our podcast, where we give clear, honest advice on all things Shared Ownership. 

Shared Ownership Unpacked