You may be able to buy more shares in your property. This is known as "staircasing". Further shares in the property are bought at the current market value and not at the price you may have originally bought the property. If you are thinking of purchasing further shares please telephone us.
The property must be valued by an independent Chartered Surveyor, which is at your expense. We can instruct a valuer on your behalf, but we may require the fee in advance. The price of further shares will be discounted to allow for any improvements you have carried out which have increased the value of the property. You should advise the Chartered Surveyor of the extent of the works you have carried out. We will then be able to calculate the price for the further share. You must purchase additional shares within 3 months of the valuation or a further valuation will be required. |