Can I purchase more shares in my home?
Yes, but this will depend on the individual lease. This is known as staircasing and can be done once you have owned the initial share for at least 12 months. The price you pay for any extra share is based on the market value of your home at the time you wish to buy, which could go up or down. The value will be set by an independent RICS qualified Surveyor. There will be some costs involved in staircasing such as a valuation fee, solicitor’s fees and mortgage fees. Please bear this in mind when thinking about purchasing further shares.
If you’re interested in buying a further share please let us know in writing.