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Equity release during remortgaging and staircasing shared ownership
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chadwick16 wrote: »I would take out the same mortgage amount on the 70% as I do now...why would I need to inject any more cash into that part?
'More money' would come into the equation at the point of sale of the 70%. As I've said, the increased value of my existing 70% share is equal to the current market value of the remaining 30%. That increased value would be released, as cash, at the point of sale back to the HA, and used immediately to buy the remaining 30% outright.
The HA is not going to let you sell the 70% at current value and then buy it back at the old value. They will sell it back to you at the current value, negating the point of selling.0
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