Building a brighter future for shared ownership
Shared ownership consumers experience a number of pain points across their journey, from exploration through to staircasing.
The formation of the Shared Ownership Council stems from a strategic review of the future of homeownership. The review showed a general recognition of the potential of shared ownership to broaden access to homeownership.
We think the time is right to improve the consumer experience of shared ownership so that it can meet its true market potential.
Above all, the aim of the Council is to drive for a shared ownership sector that is focussed on progress, enabling more consumers to access this form of tenure. This should be on the basis that information is consistent and accurate, and that all industry bodies are committed to there being as high a degree of transparency as possible.
To do so, the Council will be guided by five underpinning principles:
Focus on consumer outcomes.
Proactively include all organisations involved in shared ownership (including lenders, housing associations, intermediaries, conveyancers, and a wide range of industry participants).
Be led by the industry, with government and regulators aligned with and supportive of efforts.
Build on existing tools and foundations, to connect seamlessly with existing forums and networks, without duplication.
Develop voluntary, practical guidance and resources.
