December 2023

Shared ownership home: What does ‘staircasing’ mean?

Posted on 20 December 202327 March 2025 by Sarah O'Sullivan

If you live in a shared ownership home, you might have considered buying additional shares in your property. This process is known as staircasing.

What is staircasing?

Staircasing is when you purchase more shares of your shared ownership property, gradually increasing your ownership percentage. As outlined in your lease, you have the option to buy further shares, which means:

Greater ownership: You own a larger portion of your home.
Lower rent: You pay less rent on the shares you don’t own.
Full ownership potential: Most shared ownership properties allow you to eventually staircase to 100%, becoming the sole owner.

To find out if your property allows full staircasing, check your lease or speak with your landlord.

Benefits of staircasing

When you staircase to 100% ownership, you’ll no longer pay rent. You will still need to cover your mortgage, but securing a standard mortgage rate may become easier, compared to a shared ownership mortgage.

How Does Staircasing Work?

Let’s say you initially bought a 30% share of your home. Later, you decide to buy an additional 20%. You would then own 50% of your property.

Interim staircasing: This refers to any partial share purchases (e.g., going from 30% to 50%).
Final staircasing: If you staircase to 100%, you become the sole owner.

Are there any restrictions?

Some properties have restrictions on staircasing due to planning permissions. This is often to ensure homes remain available for local people rather than becoming second homes. Check your lease or consult your landlord to understand any limitations.

Do you have to staircase?

No, staircasing is completely optional. It’s a great choice if your financial situation improves and you want to invest more in your home. However, it’s not a requirement.

Costs to consider

Staircasing does come with additional costs, including:

Property valuation: A surveyor will determine your home’s current market value.
Legal fees: You’ll need a solicitor to handle the legal process.
Stamp duty: Depending on how much you staircase, you may need to pay Stamp Duty.

Financing your staircasing

If you don’t have sufficient savings, you can consider remortgaging to release funds and extend your mortgage term. Many lenders offer options to help finance additional share purchases.

Final thoughts

Staircasing can be a great way to increase your property ownership and reduce rent payments. To explore your options further, review your lease, speak to your landlord, and seek professional financial and legal advice.

If you have any questions, contact our conveyancing team today.

Tees Better Future Fund boosts Enterprise East Group’s social impact in Saffron Walden

Posted on 19 December 202329 March 2025 by Sarah O'Sullivan

The Tees Better Future Fund proudly announces its latest round of grants, with Enterprise East Group emerging as one of the recipients. This grant will propel the impactful work of Enterprise East Group, a Saffron Walden-based community interest company committed to combating social isolation and employment barriers for over six years.

Dedicated to the fundamental belief that everyone possesses unique talents and potential, Enterprise East Group focuses on uplifting individuals on the margins of society. Their mission revolves around fostering community integration and creating accessible pathways to employment for those facing diverse challenges, including learning and physical disabilities, mental health issues, ex-offenders, addiction recovery, care leavers, homelessness, and low-income families.

Having already positively impacted the lives of over 8000 individuals, Enterprise East Group continues to grow its reach daily.

The Tees Better Future Fund grant will specifically support a new educational collaboration between Enterprise East Group’s community café, Café Cornell, and the local Dig-It community allotment. This innovative project will utilise both sites to host inclusive ‘Plot to Plate’ workshops, combining gardening and cooking skills.

Weekly sessions will engage participants from Enterprise East Group’s employability and social inclusion programs, as well as the wider community. Attendees will learn the entire process of cultivating seasonal fruits and vegetables, from planting and tending to harvesting and maintenance. Once the produce is ready, participants will collaborate with chefs in their community café to master the art of preparing delicious and nutritious meals.

This initiative not only boosts individual skills but also sustains a cycle: the produce will be used in Café Cornell, with excess yield donated to the Saffron Walden Community fridge at the Jubilee Hub. This actively supports local families and reduces food waste.

The Tees Better Future Fund is proud to support Enterprise East Group’s visionary initiatives, reinforcing its commitment to fostering positive change and sustainable community development.

Samantha McReynolds, Founder of Enterprise East Group CIC commented, “Our Plot to Plate project will enable local people facing a variety of barriers to access unique learning experiences within our community café and allotment. It is a great pleasure for us to be able to partner with the local community allotment charity Dig-It, whose expertise and facilities will greatly enhance this project. We are very grateful to the Tees Better Future Fund for their generous support in making this possible.”

“The Tees Better Future Fund is elated to support The Enterprise East Group’s impactful vision for social change in Saffron Walden. This grant exemplifies our commitment to fostering sustainable community development. The community allotment at Cornell Court not only addresses immediate challenges but also embodies shared values, fostering skill development, community integration, and a positive ripple effect beyond its roots.” Commented Sally Powell Co-Chair of the Tees Better Future Fund.

Shared ownership homes: Repairs and home improvements

Posted on 2 December 202326 March 2025 by Sarah O'Sullivan

If you’re considering a shared ownership property, one of the most common questions is: Who is responsible for repairs and home improvements? Understanding your responsibilities can help you budget effectively and avoid any unexpected surprises.

What is shared ownership?

Shared ownership allows you to buy a percentage share of a property while paying rent on the remaining share, typically owned by a housing association or landlord. While this offers a more affordable route to homeownership, it also comes with specific responsibilities for repairs and improvements.

Who handles repairs and improvements?

Structural changes and home improvements

While you’re free to decorate and make minor cosmetic changes, any significant structural changes require approval from your landlord. This is because structural modifications can impact the property’s market value, which may affect the price if you decide to staircase (buy additional shares).

Keep in mind that a landlord is not responsible for upgrades like a new kitchen or bathroom if your motivation is purely aesthetic.

Initial repair period

Some shared ownership properties come with an initial repair period, typically lasting up to 10 years. This applies if you own less than 100% of the property.

During the initial repair period:

The landlord covers essential repairs but cannot use the reserve fund or service charges to pay for them.
You are still responsible for paying your service charges as usual.
You may be able to claim up to £500 per year from your landlord for certain repairs, including issues with water, gas, electricity, or heating systems.

You can check whether your property has an initial repair period by referring to the Key Information Document provided by your landlord before you reserve the home.

External and structural repairs

For new-build homes, external and structural repairs are usually covered by a building warranty for the first 10-12 years. If you purchase a shared ownership resale property, any remaining warranty period will transfer to you.

For flats, external repairs are typically the responsibility of the freeholder or building owner. The cost is then divided among all flat owners through your service charge.

What to Do if Repairs Are Needed

If an issue arises, contact your landlord as soon as possible. They will assess the problem and determine whether the repair is essential. Keeping clear records of all communications and repair requests can be helpful.

For further information, visit the government website for official guidelines.

By understanding your responsibilities, you can enjoy the benefits of shared ownership without unexpected repair costs.