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Can shared owners purchase further shares?

April 26, 2017owners purchase Shared Shares

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Can shared owners purchase further shares?

1 Answer

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10 Posted

Shared owners may purchase further shares in their property at any time after the first year and may eventually own their home outright. This is known as ‘staircasing’. The purchase of further shares is based on the current market value of the property, whether it has gone up or down. When further shares are purchased, the rent is reduced accordingly. There is no obligation for the shared owner to buy further shares, if they do not want to.