So, you want to buy more shares in your home? Find out which option would work best for you.
For those with accessibility needs, this video transcript can be found here:
Buying more shares in your home, means owning more and reducing the amount of rent you pay – this is known as staircasing.
There are two options available to you, when you want to staircase:
Buy a little more at a time – You can buy additional shares in stages, typically in 10% increments
Buy all the remaining shares in your home to reach 100% ownership.
Once you staircase to 100% you’ll own your home outright and will no longer pay rent, but you will still be responsible for your mortgage repayments and in some cases service charges and ground rent.