Restricted staircasing
Some shared owners are unable to purchase 100% of their home - this is called Restricted staircasing.
This means the property always remains Shared Ownership, giving more local people the opportunity to own a home. Shared owners can purchase up to 75/80%.
The most common reasons for a Shared Ownership lease being subject to such restrictions could be because your property is in a rural or protected area or is part of an older persons scheme.
Designated protected areas
These are areas designated by the Secretary of State, which are predominantly rural areas where affordable housing needs to be retained. It is to ensure that in certain areas Shared Ownership properties remain available for local people unable to afford to buy at full market value.
How do I know I have restricted staircasing?
You will be able to find this information within your Shared Ownership lease. Some leases are drafted with slight variations. Generally, you will find this clause in the staircasing section of your lease.
You will remain a shared owner and will be required to continue to pay any service charges applicable to your property. You’ll pay rent on the remaining share you don’t own and your property will remain leasehold. If you have acquired an Older Persons Shared Ownership home you will not pay rent once you own 75%.
