This step by step guide will give you an idea of what to expect if you decide to buy more shares. Our experienced team will be on hand to guide you through every step of the process.
Undecided if buying more shares is the right thing? Read: How to decide if it's right for you.
Before you start
Before you tell us you're ready to start, check your lease length, read the latest fire safety requirements for leaseholders and speak to a financial adviser to confirm you can afford the extra shares. If you don't do these things, you may encounter problems later on.
Step 1 - Valuation
Commission an independent RICS surveyor to write a valuation report. You pay them directly, and they send the report to you. If you use one of our recommended independent surveyors, they will also send the report to us, speeding up the process.
If you’ve made structural home improvements, make sure you give the RICS surveyor details because this might affect the value of your home and what you pay for your share. Cosmetic improvements will not be taken into account in your valuation.
Step 2 - Your offer letter
You’ll receive an offer letter via Docusign which states the options for purchasing additional shares available to you. Complete and return the Acceptance of Offer Form that comes with it. We’ll also need details of your solicitors. You’ll receive a link to certify your identification documents including a proof of name, address, photo and date of birth for each home owner.
Step 3 - Instruct a solicitor
Instruct a solicitor as soon as possible and provide them with all of the required paperwork, so they can answer questions from our solicitor and keep things running smoothly. We’re here to make sure the transaction goes as smoothly as possible and ensure you complete your purchase by the valuation expiry date.
Please note: if you have not instructed a solicitor this may cause delays in the purchase.
Step 4 - Completion
Make sure your mortgage funds or savings are ready on the completion date.
Once the completion date has been agreed between your solicitor and MTVH's solicitor, your solicitor will make sure funds are requested from your lender. If you are purchasing using savings, your solicitor will ensure the funds are ready on completion date.
If you’ve read this step by step guide and would like to buy more shares, let’s get started! You'll need a SO Resi account to access the Buying more shares section.