Staircasing valuations: the rules that set your price
The short answer
Every extra share is priced at current market value, set by an independent RICS valuation you pay for - not at your original purchase price, and not at what your mortgage lender thinks. Rising market: staircasing gets dearer the longer you wait. Falling market: the same rules cut your price. The valuer must disregard the value your own qualifying improvements added, and the figure holds for three months.
The rules, one by one
Market value, today's. Your lease fixes the mechanism: shares are bought at the market value current at the time of staircasing. The 25% you bought at £60,000 five years ago has nothing to do with what the next 25% costs now.
RICS, independent, evidenced. The valuation must come from a RICS-registered valuer with an internal inspection and comparable sales behind the figure - the report you pay £150 to £350 for. Estate agent appraisals and online estimates have no standing.
Improvements disregarded. Standard leases tell the valuer to ignore value added by qualifying improvements you made and paid for - you shouldn't buy your own kitchen back. Declare the works to the valuer and check your lease's exact wording.
Three months, then it lapses. The figure stands for three months; the whole transaction needs to complete inside it.
| Factor | Effect on share price |
|---|---|
| Local market rising or falling | Full effect - the valuation tracks it |
| Improvements you paid for (qualifying) | Disregarded under standard leases |
| What you originally paid | None |
| Your mortgage lender's valuation | None - the RICS staircasing report governs |
| Landlord's opinion of value | None - they rely on the same report |
Where disagreements land
If the figure looks wrong, the route mirrors any RICS valuation dispute: put sold-price evidence to the valuer, or commission a second report. Housing associations follow a compliant valuation rather than argue with it, and most leases provide for resolving genuine deadlocks formally - rare in practice. The more common friction is quieter: overrunning the three-month window and paying for an update. The step-by-step process guide shows the sequencing that avoids it.
Get the number that prices your shares
Verified RICS valuers who handle staircasing quote for your home - evidence-backed reports your landlord accepts. Free to compare.
Compare valuation quotesCommon questions
What counts as a qualifying improvement?
Genuine additions and upgrades you paid for - a new kitchen or bathroom, an extension, central heating - rather than repairs and decoration. Leases define it individually, so check yours and keep receipts; the disregard only works for what you can evidence.
Can the housing association insist on a higher figure?
No - a compliant RICS valuation governs both sides. What they can do is require the valuation to meet the rules (registered valuer, internal inspection, comparables), which protects you as much as them.
What's the minimum I can staircase by?
Most standard leases: 10% of the property's value per transaction, with older leases sometimes 25%. New model leases from 2021 allow 1% a year with simplified desktop valuations. The lease, not the landlord's website, is the authority.
Does 100% staircasing change the valuation rules?
Same rules, bigger consequence: the final valuation prices the whole remaining share, ends the rent, and for houses usually triggers the freehold transfer. Details of the final step are in the staircasing process guide.
Sources and further reading