Shared Ownership
Shared Ownership can help you take a first step towards owning your own home.
Winchester Housing Trust can support eligible buyers through the Shared Ownership process and provide guidance on staircasing, selling and costs.
Is Shared Ownership right for me?
You cannot afford to buy a home on the open market.
You have a combined household income of less than £80,000.
You have a local connection to the Winchester area (often required for our properties).
You have enough savings to cover a mortgage deposit and buying costs.
Buying process
A straightforward path to your new home. We are here to guide you through each step.
Contact WHT to express an interest
WHT checks eligibility
If eligible, WHT informs respective estate agent
Then you make an application with WHT
WHT will contact you if approved
Start buying process
Staircasing guidance
When can I staircase?
Possible after you have lived in the property for 12 months.
Staircasing to 100%
In most cases, you can eventually buy 100% of your home. A resident must obtain an RICS valuation at their own cost to do this.
Board approval
All staircasing applications are subject to WHT Board approval and charitable asset disposal rules.
Costs for < 100%
Increasing your share (but not to 100%) involves solicitor and valuation fees (approx £750). Contact WHT for the most current fee structure.
Costs for 100%
When purchasing 100%, you only pay your own legal fees.
Costs & valuation guidance
RICS valuation
If you are staircasing to 100%, you must organise and obtain a RICS valuation. You are responsible for the cost of this valuation.
Solicitor fees
If you are buying more shares, selling your home or completing a purchase, you may need to pay your own legal fees.
Staircasing fees
If you are increasing your share but not to 100%, WHT’s current website says you are responsible for solicitor fees and valuation fees, currently around £750. This may change, so contact WHT for up-to-date costs.
Selling administration fee
For selling a Shared Ownership home, WHT’s current website says buyer and seller are each charged a £600 administration fee because WHT needs to instruct external solicitors.
Up-to-date costs
Costs can vary. Contact WHT before making decisions so you have the latest information.
Selling Your Shared Ownership Home
Guidance for shared owners looking to move on. Selling is similar to open-market but with additional criteria.
Tell us in writing
Put your intention to sell in writing to WHT. We'll acknowledge this before you move to the next step.
Get a valuation
Obtain a full valuation from any reliable, reputable estate agent or surveyor. You're responsible for any costs incurred.
Forward it to us
Send us the valuation so we can check how it compares against our own stock valuation sheet.
Agree a price and market the property
Once both parties agree the sale price, we'll give you rental figures for any new buyer. You can then market the property through an estate agent of your choice. WHT isn't responsible for marketing or its costs.
Make sure buyers meet the criteria
This is a shared ownership property, so make sure your agent and any buyer understand the rules:
No investors. The property can't be bought as an investment.
Local connection required. The buyer must have lived in the area for at least 12 months, and/or work or have strong family connections there. They'll need to evidence this.
Only home. The buyer can't own property elsewhere; this must be their home and their only property.
Buyer checks
Once you've found a potential buyer, forward their details to WHT, or have them contact us directly, so we can carry out a financial assessment and criteria check.
Instruct solicitors and complete
Once the buyer's approved, instruct a firm of solicitors of your choice and the sale begins. You're fully responsible for your own solicitor fees.
Admin fee
WHT instructs external solicitors to handle the sale/purchase. These costs are split between buyer and seller, with each party charged a £600 administration fee.
Any questions about selling? Contact charlotte@winchesterhousingtrust.co.uk