Owning more of your home
Increase your share in your Co-Ownership home when the time feels right, and reduce your rent along the way.
Staircasing with Co-Ownership allows you to:
- - Buy additional shares from 5% upwards
- - Buy us out completely
- - Reduce your monthly rent as your share increases
- - Use savings, inheritance or a mortgage to fund buying more shares
- - Staircase whenever you're ready
Co-Ownership is Northern Ireland's shared ownership provider. The process and terms described here apply specifically to Co-Ownership NI customers.
Buying a larger share of your Co-Ownership home - known as staircasing - is one of the best advantages of owning with us, along with the built-in flexibility. You don’t have to stay at the share you originally bought, and as your financial situation improves you've the option of buying more of your home.
There are no deadlines or expectations involved with Co-Ownership. Many of our customers are happy staying at their current level for years, and that's fine with us. Whatever level of home ownership feels comfortable to you, is where you should stay. The choice is always yours and there's no pressure from us.
Increasing your share video
Ready to own more of your home? This short video explains how increasing your share works, from using our buying out calculator to getting a valuation and arranging your finance, whether you're buying in small steps or purchasing us out completely.
Whether you increase your share in small steps or buy us out in one go, you're in control.
If you’re considering selling your home or buying out Co-Ownership completely, you’ll find full details on Selling your home or buying out Co-Ownership.
How to increase your share
If you're interested in buying more of your home, or want to buy out Co-Ownership completely, here's what you need to do.
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Get an idea of potential costs
Before you start, work out what you can afford and how much it will cost to buy more.
- Use our buying out calculator to estimate costs based on different scenarios and share percentages.
- Speak with your mortgage adviser or lender about borrowing options if you're planning to remortgage or increase your mortgage.
- Check what your home is currently worth by looking at similar properties on sites like PropertyPal, or speaking with local estate agents.
This helps you decide whether now is the right time to buy out more - or all of the Co-Ownership share - in your home.
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Request a valuation
When you're ready, log in to your online account and submit a valuation request.
The valuation costs £75 and is valid for 12 weeks from the date you receive the valuation.
A RICS-registered valuer will inspect your home inside and out, compare similar properties in your area, and provide a formal valuation. You'll usually receive the result within two weeks of the inspection.
If you've made improvements that add value to your home, such as a new kitchen, bathroom, extension, or conservatory, let us know when you request your valuation. We'll take these into account using a buy-out valuation, which means the added value you've created stays with you and is excluded from Co-Ownership's share.
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Make your decision
Once you receive your valuation, review the cost of buying more and decide if you'd like to go ahead.
If you're remortgaging or increasing your mortgage, inform your lender or adviser so they can arrange your finance and provide confirmation of funds.
For a full buy-out, you'll need to appoint a solicitor to handle the legal paperwork and remove Co-Ownership from the property title. All legal costs for this are your responsibility.
Let us know how you want to proceed, and we'll confirm the next steps.
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Complete the transaction
All funds and legal work must be completed within 12 weeks of the valuation date.
Your solicitor will co-ordinate with Co-Ownership to complete the paperwork. If you're using a mortgage, your lender will transfer funds directly to your solicitor.
If delays occur, contact us as soon as possible. If we can't complete within 12 weeks, we may need to carry out a second valuation to ensure the price is still accurate.
Once everything is complete, you'll own a bigger share or own 100% of your home. If you've bought us out completely, you'll no longer be a co-owner and will own your home without the help of Co-Ownership.
A staircasing example
In the following example, our customer has been a co-owner for five years, and bought their home originally for £130,000 on a 50% share. The same property is now worth £175,000. When speaking to their lender about remortgaging, they discuss the change in their monthly costs if they were to buy another 5% share of their home.
| Share owned | 50% | 55% |
| Property value | £175,000 | £175,000 |
| Cost of extra 5% share | £8,750 | |
| Monthly mortgage | £310 | £481 |
| Monthly Co-Ownership rent | £165 | £149 |
| Monthly total | £475pm | £630pm |
While the monthly mortgage amount has increased, the amount of rent paid to Co-Ownership has dropped, and the customer owns a greater share of their home.
When to increase your share
Our customers typically increase their share when:
- Remortgaging as their current mortgage deal ends, borrowing additional funds to buy more of their home.
- Receiving an inheritance, which provides a lump sum amount to buy a larger share.
- They experience a change in circumstances, such as a pay rise, a partner's income joining the household, or improved financial stability.
Regardless of the amount, you always have the option of buying in 5% steps, larger blocks of 10% or 20%, or buying the remaining share all in one go.
Making home improvements?
From redecorating and upgrading your kitchen to refreshing your outdoor space, most everyday home improvements can be carried out without contacting us. Find out what’s allowed, when permission is needed, and how improvements are treated if you later sell or increase your share.
Learn more about home improvements
Change in your circumstances?
Life doesn’t stand still, and things change. Whatever you're dealing with, whether that's moving in with a partner or planning for later life, get clear guidance on what to do, when to contact us and the steps we’ll take to support you.
Read more
Ready to explore your options?
If you’re thinking about owning more of your home, start by using our buying out calculator to understand what's affordable. Then, when you’re ready, you can request a valuation through your online account or speak to our team for guidance.
We’re here to help you make confident decisions about your home, at a pace that feels right for you.
