Buying 5% more
Increasing your share in your Co-Own home means that you will own more of your home and your rent will also reduce. You can increase your share in 5% chunks or in one go.
Increasing your share in your Co-Own home is easy to do and if you are self-funding with your own finances to buy a bigger share you do not need to appoint a solicitor.
If you are refinancing with your existing lender to fund your equity purchase, they may require you to appoint a solicitor however, Co-Ownership will not require this. If you intend to remortgage to a new lender you will need to appoint a solicitor to ensure the correct legal paperwork between us and your new lender is put in place.
If you do need to appoint a solicitor, you will be responsible for your own costs and expenses.
To see how much it will cost you to increase your share please visit our Buying Out calculator. You can request a valuation via our website and remember to include any home improvements that you have made.