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Staircase, our shared ownership scheme

Buy your own home step-by-step using Staircase, Persimmon's very own shared ownership scheme.

What is Staircase? Our shared ownership scheme

Buy your own home step-by-step using Staircase, Persimmon's very own version of the government-back shared ownership scheme. At a time when saving enough for a deposit is difficult, and rents are soaring, shared ownership can be a great solution that involves part-buying, part-renting your home, until it's 100% yours. Read on to find out if our Staircase, shared ownership scheme could be ideal for you.

What is shared ownership?

Don’t worry, you’re not sharing your home with anyone else! Shared ownership is where you buy a share of your home (typically between 10% and 75%) through a mortgage and then pay a subsidised rent on the remainder to Persimmon’s shared ownership partner. Sometimes known as part buy, part rent, our staircase scheme allows you to split the ownership of your property between yourself and our partner.

How does part buy, part rent work?

If you're eligible for the scheme, you pay a small deposit on one of our new homes, buy the percentage share you can afford* through a Shared Ownership Mortgage, and rent the rest until you can afford to own 100%.
Your monthly payment consists of the mortgage on the share you have bought, plus the rent on the share that you rent.
The rent you pay is a subsidised rent paid to our shared ownership partner (calculated using a Government formula) that increases annually on the share of the property that you don't own.
So you part-buy/part-rent, buying more shares as and when you can afford to, until your new home is all yours!

What is staircasing?

As your finances improve over time, you can review and change the buy/rent percentage split on your home, until you own 100%**. This is called staircasing!

The cost of more shares will be based on their value at the time, not their value when you first bought the home. Your solicitor will explain the legal costs involved each time you staircase. However, if you buy in 1% increments, there are no fees.**
The time frame is completely up to you, and there's no pressure to buy more shares at any time.
Your solicitor will explain the legal costs involved each time you staircase. However, if you buy in 1% increments, there are no fees.

Are you eligible for shared ownership on a new build home?

Persimmon's Staircase could be the perfect solution if the below points apply to you:

You're 18 or older
Your household income is £80,000 per year or less (£90,000 or less in London)
You can't afford all of the deposit and mortgage payments for a home that meets your needs
You don't currently own a home.

One or more of the following must also apply to you:

You're a first-time buyer
You used to own a home but can't afford to buy one now
You're forming a new household - for example, after a relationship breakdown
You're already a shared owner but want to move
You own a home and want to move but can't afford anything that meets your needs (local conditions may apply)

If you still have questions about availability, speak to an independent financial advisor.