If you've bought your home under the government's shared ownership scheme, you can buy more shares in your home - generally up to 100%. The process is called staircasing.
To buy more shares you'll need to have your home valued. We'll use the value to calculate the cost of the shares.
There are some homes where there is restricted staircasing - please check your lease if you are not sure.
You can buy all the remaining shares in your home at once, or you can buy them in stages. But you must always buy at least another 10%.
There are some homes where there is restricted staircasing - please check your lease if you are not sure.
Important information
If you are a shared owner in a tall building and you are considering buying more shares, please first read this important information that you need to be aware of.
How it works
There are 3 options:
Option A: You haven't made any improvements to your home and are happy to use one of our recommended surveyors.
Option B: You've made improvements to your home and are happy to use one of our recommended surveyors.
Option C: You've made improvements to the property and want to use your own surveyor.
For all the options, you'll need to appoint a solicitor.
Option A: Buying more shares when you've made no improvements
Contact one of our recommended surveyors to arrange a valuation
Complete the staircasing instruction form and the confirmation to proceed form
Send the 2 forms and the surveyor's valuation report to staircasing@a2dominion.co.uk or to:
A2Dominion Staircasing Team
113 Uxbridge Road
London
W5 5TLWe get our solicitors to draw up an offer and send it to your solicitor.
Option B: Buying more shares when you've made improvements
Complete the staircasing instruction form and the confirmation to proceed form
Send the 2 forms and the surveyor's valuation report to staircasing@a2dominion.co.uk or
A2Dominion Staircasing Team
113 Uxbridge Road
London
W5 5TLWe arrange a surveyor and send them details of any alterations or improvements to your home that we've approved.
The surveyor contacts you to organise the valuation.
You will receive the valuation report.
You then need to complete the confirmation to proceed form. Send this and the surveyor's valuation report to staircasing@a2dominion.co.uk or
A2Dominion Staircasing Team
113 Uxbridge Road
London
W5 5TLWe will instruct our solicitors within 5 working days. They will draw up an offer and send it to your solicitor.
Option C: Buying more shares when you've made improvements and want to use an independent surveyor
Complete the staircasing instruction form and the improvements disclosure form. Include details of the independent surveyor you want to use to value your home. They must be registered with the Royal Institute of Chartered Surveyors (RICS).
Send the 2 forms to staircasing@a2dominion.co.uk or to:
A2Dominion Staircasing Team
113 Uxbridge Road
London
W5 5TLWe send you consent to use your chosen surveyor.
You contact your surveyor to arrange a valuation.
You provide them with a copy of your lease. They'll need this to value the property.
You instruct them to provide 2 valuations: one with the improvements and one without.
Complete the confirmation to proceed form and send it to us with their valuation report.
We get our solicitors to draw up an offer and send it to your solicitor.
We work out the cost of shares based on the current value of your home.
How much will it cost me to buy more shares in my home?
We work out the cost of shares based on the current value of your home.
For example, if your home is valued at £350,000 and you want to buy another 25% share, the cost would be 25% of £350,000 = £87,500.
If you've made improvements that have added value to your home and have been approved by A2Dominion you may have to pay less.
Other costs
Other costs you'll need to pay are:
The cost of the valuation
Your solicitor's fees
You may also have to pay:
Stamp duty costs if you'll own more than 80% of your home after you've bought more shares
Mortgage arrangement fees if you're extending your mortgage to pay for the shares
If you're buying enough shares to own 100% of the property, you won't have to pay rent any more. You may still have to pay service charges and ground rent though.