You can choose to go up another step on the home ownership ladder by buying further shares, or in most cases you can purchase all the remaining shares (but not all; some will only allow you to purchase up to 80% of shares). Staircasing will also have the effect of reducing the rent that is payable on a property.
Shares in the property will be sold at the current market value, disregarding any improvements to your home that your landlord has consented to. As such, an up to date impartial Valuation is required in the form of a Property Valuation Report. As the other equity in the property is owned by a public body, it is a requirement for the Valuation Report to be produced by an independent RICS Registered Valuer. A report from an estate agent or one carried out on behalf of a mortgage lender will not be accepted.
Imperium Chartered Surveyors will conduct a thorough process resulting in a Valuation Report which is both impartial and in accordance with the requirements of the lender/housing association.
Get in touch, and one of the team will be happy to discuss your needs.
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