Buying more shares
We know that having the flexibility to buy more shares in your home when the time is right for you, is an important part of your home ownership journey. Sparrow will do everything we can to support you.
The greater the share you own, the less rent you’ll pay to us. If you staircase to 100%, you’ll become an outright homeowner and pay no rent – although any service charges will still need to be covered.
The five stages to staircasing:
- Stage one: Get an estimate of the value of your home
- Stage two: Speak to a mortgage lender or independent financial advisor
- Stage three: Speak to us about obtaining a valuation of your home
- Stage four: Share the RICS valuation with your mortgage lender or independent financial advisor
- Stage five: Completion – sit back and enjoy owning more of your home!
What will staircasing cost me?
Costs will vary but here are some typical costs:
- The RICS valuation fee (see above). This varies but usually costs between £250 and £350.
- Mortgage arrangement fee to your lender, if applicable.
- Your lender's valuation fee, if applicable.
- Your legal fees, and if applicable and staircasing to 100%, transfer of freehold costs.
- Our staircasing administration fee of £185.
- Stamp duty: if you didn't pay stamp duty on the full value of your home you may need to pay extra stamp duty. Your solicitor will be able to advise you.
- The cost of the extra share. This is set by the RICS valuation.
Buying more shares in your home
As a Sparrow shared owner, you can buy more shares in your home (known as "staircasing"). Find out how staircasing works and what you need to do.
Selling your home
If you decide its time to move on, we here to help you on that journey too. Find out about selling your share of your Sparrow home.
Financial wellbeing
Find out what to do if you struggling financially or want useful tips to make your money go further.
Make a complaint
How to make a complaint if you think we falling short of our commitment to high quality customer service.