As a shared owner you will be party to a lease. This lease forms your agreement between you and bpha. Depending on the age of the lease you will have been granted either a 99 or 125 year lease. 
Shared owners do not have a statutory right to extend the leasebpha policy is to enable Shared Ownership lease extensions on a voluntary basis.
If your lease drops below 80 years on the remaining term you may find it difficult to secure affordable lending. You may also have trouble selling your property.
You will be subject to fees. These may include but are not limited to:
Once you have paid bpha for the valuation the survey is instructed. The surveyors will contact you directly to arrange access.
The inspection will usually last around 15 – 30 minutes but this will depend on the size of property being valued. During the inspection you may be asked questions such as, how much rent you pay or have you had an improvement carried out on the property.
Following the inspection, the survey report is issued directly to bpha for review. This is usually available to bpha within 10 working days following the inspection.
Once the valuation has been reviewed by a member of the management team at bpha you will be provided the report.
The valuation will remain valid for a period of three months. It is important that you extend your lease within this time to prevent the value from changing.
You can extend your lease at any time providing you are the shared owner of the property.  The lease term would be extended by 90 years.