Staircasing
If you are a Shared Owner then you have the opportunity to buy more shares in your home. This is known as staircasing.
The greater the share you buy in your home, the less rent you will pay and if you staircase to 100% you will pay no rent and become an outright owner. It is entirely up to you if you want to staircase.
Most Shared Owners have the right to staircase, but you should check your lease to make sure.
You can usually staircase up to a maximum of three times in addition to the initial share you purchase. Please remember to check the terms of your lease beforehand as this rule can vary from scheme to scheme.
The minimum additional share you can purchase when you staircase is 10%. When you make your final permitted share purchase it must be enough to ensure you own 100% of your home. For example, if you start by buying a 40% share of home and then staircase two further times, buying an additional 15% the first time and 15% the second time, you must purchase 30% when you staircase the third and final time.
The value of your home can change over time depending on the state of the housing market. So the value of your home at the point you want to staircase may be different to the value when you bought your initial share. The additional share you want to purchase will be sold at the market value at that time.
If you are considering staircasing please also read our latest building and fire safety advice for residents as fire safety compliance requirements could impact on your ability to sell your home in the future. We advise you to contact the Resident Sales team before incurring any costs.
For more information please contact 020 7613 7480 or email staircasing@newlon.org.uk.
Related documents
Own more of your home
We have partnered with Stairpay to give every Newlon shared owner a free account to track your home, keep an eye on your costs and explore buying more shares.
In a few minutes, Stairpay gives you an estimate of your home’s value, shows how much more you could afford to buy, and explains the steps involved, with no pressure to take a step until you are ready.
What you get with Stairpay
- Your home dashboard. Everything in one place: your share, your rent, your mortgage and your costs.
- Track your home’s value. An estimate based on the UK House Price Index, and what it means for your equity.
- Explore buying more shares. See what different amounts would cost, how your rent and mortgage would change, and whether it looks affordable right now.
- Answers, any time. Ask the assistant about your lease, service charges or responsibilities, 24 hours a day.
See what it could look like for you
This example shows someone moving from 40% to 55% of a home worth £285,000. Their rent goes down by £98 a month and their mortgage goes up by £211, so they pay £113 more each month and own £42,750 more of their home.
Your own figures will be different. The calculator uses your share, your rent and an estimate of what your home is worth, so what you see is yours, not an example.
Please note: Rent is reviewed every April, and all calculations are subject to that.
What people ask us
Will my rent actually go down?
Yes. You only pay rent on the share you do not own, so buying more brings the rent down. If you take on a bigger mortgage to do it, that payment rises, so your total monthly cost can still go up.
What will it cost me?
Your Stairpay account is free. Buying a bigger share is not: there is a valuation and legal fees, and they vary depending on who you choose. Your account helps you see the whole picture before you decide anything.
Do I need a new mortgage?
Some people borrow more, some use savings, some do both. The calculator lets you try it either way before you speak to a lender or a mortgage adviser.
Can I do it a bit at a time?
Yes. Plenty of residents buy another slice when they can, rather than going straight to owning their home outright. You can usually buy more shares up to three times in addition to your original share, and the minimum each time is 10%. Check your lease, as this can vary from scheme to scheme.
How is the price of the extra share worked out?
A RICS surveyor from our panel values your home, and the share you are buying is priced at its market value at that time. That is why the figures in your account are an estimate rather than a formal valuation.
Will I have to pay stamp duty?
Sometimes. The rules for shared ownership are complicated and depend on the choices you made when you first bought. Your solicitor will work out whether anything is due and let you know before you commit.
I have signed up. Now what?
Add your mortgage and your monthly bills, and check your property details are right. The fuller your account, the closer your figures will be.
How do I apply when I am ready?
You apply from inside your Stairpay account, whenever the time is right for you. Step by step guidance is built in, and we will be in touch to take your application forward.
How long does it all take?
Usually around 10 to 12 weeks once you instruct a solicitor. Your valuation lasts about three months, so it helps to have your mortgage conversations under way before you start.
Something is not right with my account
If your property does not appear, the wrong home is showing, or your login link has not arrived, check your spam folder first, then email newlon@stairpay.com. Please do not create a second account.
Who do I contact about what?
Stairpay for your account, your dashboard or an application in progress. Newlon for your rent account, repairs, permissions and anything about your lease.
Set up your account
Sign up below. It takes a couple of minutes, and there is no pressure to take a step until you are ready. You will need your postcode or your Newlon customer reference.
Explore in your own time
Take your time and explore at your own pace. When you are ready, Stairpay can guide you through every step.
Stairpay is an independent partner. Newlon does not provide financial or legal advice.