Buying more shares

With Magna, buying more shares in your home is simple. Our team is on hand to help you increase your share and lower your rent.

Why buy more shares?

The more shares you buy, the less rent you pay.

If you staircase to 100% you become an outright owner and pay no rent.

When can I start buying more shares?

Once you buy a home from us, you can buy more shares at any time. The cost of your new share will depend on your home’s value at the time of the share purchase.

How does it work?

There are four simple steps to buying more shares in your home:

We arrange for your home to be valued and work out the cost of the additional shares.
You decide how many shares to buy and advise us in writing.
Once you send us your solicitor’s details we then instruct both your solicitor and ours of your intention to buy more shares.
We work closely with the solicitors until the transaction has completed - our team of experts are always on hand if you have questions.

Buying more shares can sometimes work slightly differently for some of our shared ownership homes. Learn more here.

Where do I begin?

If you’re thinking of buying more shares, it’s worth looking at how much it may cost.

The price you pay for the shares is based on the current market value. You can get an idea of this by looking at similar properties on Rightmove or Zoopla.

Next, use our handy calculator to estimate the value of the additional shares for your home.

If your mortgage deal is coming to an end or you are looking into additional borrowing, you should speak to a mortgage advisor. We have a panel of mortgage advisors who will be happy to help.

Your advisor can also help if you are planning to fund your purchase using savings, inheritance or a family gift.

What are the costs?

You will need to pay for the valuation fee, our administration fee and our legal fees to complete the purchase. These will vary, but our team will advise of the costs when you apply to buy more shares.