Zen Housing Staircasing: Your Path to Full Home Ownership
At Zen Housing, we believe that your home should grow with you. Our staircasing process empowers shared owners to buy more shares in their home over time, moving you closer to full ownership at a pace that suits your lifestyle and finances.
What is Staircasing?
Staircasing allows you to purchase additional shares in your shared ownership property. The more shares you buy, the less rent you pay, and once you own 100%, you no longer pay rent—just any applicable service charges and ground rent.
Steps to Staircase
Check Eligibility: Ensure there are no outstanding rent, service charge, or ground rent arrears.
Get a Valuation: Arrange for a RICS valuation to determine your property’s current market value.
Notify Us: Submit your valuation report and the share percentage you’d like to buy.
Cover Costs: Pay any administration fees and other related costs (we’ll clearly outline these for you).
Complete Purchase: Once payment is complete, your rent will be adjusted, and you’ll receive an updated agreement reflecting your new ownership share.
How Does Staircasing Work?
Depending on when your home was purchased, different staircasing options are available:
For Homes Bought Under the AHP 2016-2021:
Minimum staircasing is 10%.
Additional shares can be bought in 5% increments.
Requires a RICS (Royal Institution of Chartered Surveyors) valuation.
For Homes Bought Under the AHP 2021-2026:
Minimum staircasing is 5%.
You can also purchase an extra 1% annually for the first 15 years, with valuations based on the Land Registry’s House Price Index.
Final Staircasing to 100%
Once you own 100% of your property:
Houses: You’ll typically become the freeholder, though some estate charges may apply.
Flats: You’ll become a leaseholder, responsible for service charges and ground rent.
Selling While Staircasing (Back-to-Back Staircasing)
Planning to sell your home? You can purchase 100% of your home and sell it simultaneously. In this case, the share price will reflect the higher of the RICS valuation or the sale price.
Facing Financial Difficulties?
In exceptional cases, we may allow you to sell back shares (known as downward staircasing) to help ease financial strain. This option is subject to approval and is not guaranteed.
We’re Here to Help
Zen Housing is committed to making the staircasing process straightforward and transparent. We follow all regulations and best practices to ensure a smooth experience. Have questions? Our team is ready to guide you every step of the way.
Start your journey to full home ownership today with Zen Housing—because the best place to be should always feel like home.
We’re Here to Help
Zen Housing is committed to making the staircasing process straightforward and transparent. We follow all regulations and best practices to ensure a smooth experience. Have questions? Our team is ready to guide you every step of the way.
Start your journey to full home ownership today with Zen Housing—because the best place to be should always feel like home.