For most existing homeowners who are buying more shares, there are some costs involved, so it makes sense to understand these to help you decide if buying a bigger share is a right for you.
What are the costs involved?
The main cost is for the extra share you are buying, but you will also need to pay for:
- a valuation report from a RICS surveyor
- mortgage lender’s fees for arranging extra borrowing on your mortgage
- solicitor’s fees for legal work involved
- Stamp Duty - if you need to pay this, your solicitor will let you know
Monthly payment calculator
Enter the details of your purchase into the calculator to get an estimate of how much your SO Resi Monthly Payment will reduce by. You do not need to include your service charge. Note that this is an approximate figure; please contact our Aftersales team who will be happy to confirm your personalised payments.