What Is Staircasing?

Updated: Apr 20, 2020

For all those looking to buy a house in 2020, this article is for you.

Whether you’re set on buying a shared ownership property or just want to know your options, we’re unpacking one important of housing topic - staircasing.

Firstly, let’s have a recap on what Shared Ownership is. It’s owning a proportion of a property by a mortgage, this being the share of the property that belongs to you. The other proportion of the property is owned by a housing association who charge you rent on the remaining share.

Staircasing can occur once you have lived in said property for a certain period of time. It allows you to buy further shares in your property. So if you started off purchasing the property with a mortgage covering 25% I.e. you own 25% of the property and pay rent on the other 75%, you can gradually staircase to 100% and become the become an outright owner, and you will no longer need to pay rent.

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