Shared ownership
Extending your shared ownership lease
Guidance on responsibilities and permission requests for shared owners is the same as outlined above, however there are some differences when extending your shared ownership lease.
When purchasing your home through shared ownership, you will have agreed to a leasehold arrangement which provides you with the right to occupy it for a set number of years. This is known as ‘the term’ which is normally over a 99- or 125-year period.
We provide opportunities for shared owners to extend their lease on a discretionary basis via either a statutory or informal route.
If you are interested in the informal route, please contact us for more information.
How to buy more shares of your shared ownership home
If you purchased your home through a shared ownership scheme, you can purchase more shares over time which is known as ‘staircasing’.
Depending on your lease, you may be able to staircase up to 100%, meaning you will own your home outright. Some leases restrict staircasing to a maximum percentage, so please check your lease.
If you are interested purchasing more shares, please explore our staircasing process and contact us for more information.
Selling your shared ownership home
We know that for a variety of reasons, you may eventually wish to sell your shared ownership home.
If you are thinking about selling your shared ownership home, please contact us and let us know so we can provide you with guidance and instructions on what happens next. Telling us as early as possible will help to eliminate any problems or delays to the process.