STAIRCASING – BUYING MORE SHARES IN YOUR MUIR SHARED OWNERSHIP HOME
BUYING a greater share of your Muir shared ownership home means you can own more of your property as time goes on.
‘Staircasing’ allows you to do just that – increasing your share at a time to suit you, but only if you want to.
This flexible option gives you greater control over how you maintain an affordable lifestyle while owning a larger amount of your home.
For example, if you started out by purchasing a 40% share, you can increase the share you own in minimum 10% tranches.
Each time you buy additional shares, the rent you pay on the remainder of your home will be reduced proportionally – any service charges will remain the same.
“Staircasing is a really good way to control the amount you own of your home,” Muir Home Ownership Officer, Hilary McLoughlin (pictured) said.
“It means you can increase your shared ownership in stages, so it is more affordable.
“Shared ownership really does put you in the driving seat, giving you greater options and peace of mind.”
If you want to buy further shares in your property, let us know. It’s up to you how much you wish to purchase.
We ask you to arrange an independent market valuation and can provide you with details of valuers for this.
This sets the price of an additional share. A valuation typically lasts for 3-6 months, allowing you time to complete the purchase of extra shares. (Valuation fees are applicable)
To learn more about staircasing, or to contact Homes by Muir about shared ownership, or about buying more shares in your home, call 0300 123 1222 or visit www.muir.org.uk/buying-more-shares
You can also find more details about shared ownership with Homes by Muir by clicking here
