I am contemplating buying more shares in my shared ownership property. I've not started any serious research yet but thought I'd come here first for some general advice:)
I have no real idea yet regarding current value of my property but a quick look on Zoopla seems to suggest that my place has gone up slightly in value.
I'm looking at mortgage calculators right now and wondered if my existing equity would count towards the amount I can borrow?
My thinking is that further shares may be more expensive to buy but on the same hand the equity in my existing share should have gone up and the mortgage lender may be prepared to lend more based on this new value? Is my thinking along the right lines or am I way off?
I have no real idea yet regarding current value of my property but a quick look on Zoopla seems to suggest that my place has gone up slightly in value.
I'm looking at mortgage calculators right now and wondered if my existing equity would count towards the amount I can borrow?
My thinking is that further shares may be more expensive to buy but on the same hand the equity in my existing share should have gone up and the mortgage lender may be prepared to lend more based on this new value? Is my thinking along the right lines or am I way off?