Press release: New Shared Ownership Code launches with call for providers to register to adopt

Pilot with eight housing providers helps fine-tune Code for full industry roll-out

The new Shared Ownership Code – designed to drive better experiences for shared owners and best practice across the industry – has launched, with providers now able to register to adopt the new Code.

The final version of the Code comes after a four-month pilot with 8 housing providers, following extensive consultation and engagement with customers, housing providers, mortgage lenders and sector specialists over an 18-month period.

The Code has been created to standardise best practice and consumer protection for shared ownership. It aims to ensure transparency, fairness and improved support for shared owners in marketing, purchasing, and management of their homes.

The Shared Ownership Code is currently stewarded by the Shared Ownership Council, a cross-sector initiative set up to drive improvements to the shared owner experience and unlock a stronger and fairer shared ownership market. The Council is in the process of appointing the Code Operator, who will be responsible for running and implementing the Code on an ongoing basis. Following this appointment, the Council will be sharing further guidance and supporting documents on the adoption process for shared ownership providers.

Pilot of the Shared Ownership Code

The draft Shared Ownership Code was initially released in December 2024, shaped by insights from a comprehensive consultation with industry and shared owners. Following its publication, eight housing providers volunteered to pilot the Code to ensure it is clear and practical for wider implementation. The providers were Clarion Housing Group, Heylo, Housing 21, L&Q, LiveWest, Onward, SNG, and Stonewater.

During the pilot, each provider undertook a gap analysis, developed an action plan for the pilot period, and participated in peer forums. Industry consultants, Bernie Conroy and Tony Quigley, led the pilot, providing vital support and guidance, while Social Finance, as secretariat to the Council, led the development and review of the Code.

Through the pilot, the Council tested adoptability, refined the Code and developed priority guidance, templates and adoption processes for providers.

Key updates to the Shared Ownership Code:

• Service charges: the Code has refined service charge requirements and introduces a Service Charge Information Document (SCID), which providers must share with prospective shared owners alongside the Summary of Costs Key Information Document. Providers must flag in annual customer updates if final service charges rise significantly above estimates or inflation.

• Defects period: the Code guarantees shared owners a minimum 12-month defects period from purchase completion (after an initial transition period), improving on the current system where many receive less. The 12-month minimum is a meaningful improvement, with an ambition to work with housebuilders to move towards 24 months in the future.

• Lease extension policies: the Code’s lease extension requirements have been updated to better align with expected reforms, with providers required to adopt one of three policies in the Code.

Providers involved in the pilot also suggested several new requirements, some of which include:

• Training plans: to develop clear training plans for all staff in shared ownership, ensuring they have the knowledge and skills to effectively support shared owners.

• Lease extension notification: to notify shared owners when their lease falls below 90 years, or, if data is insufficient, to regularly remind shared owners of the benefits of extending and to check their lease term.

Ann Santry, Chair of the Shared Ownership Council, said: “A lot of hard work has gone into developing the Code, with support from our funders, our Senior Advisory Group of Experts, and those involved in the pilot, who demonstrated an unwavering commitment to the process and support towards unlocking a stronger and fairer shared ownership market. We feel the Code has addressed several of the issues flagged in the Government’s Levelling Up report and believe that shared ownership has a key role to play in addressing housing needs. We are urging housing providers up and down the country to register to adopt the Code so we can improve and future-proof the product for the good of current and future shared owners.”

Paula Higgins, Chief Executive of The HomeOwners Alliance, and board member of the Shared Ownership Council, said: “The launch of the Shared Ownership Code to the wider industry marks a significant step forward to improve the experience of shared owners across the country. If widely adopted, the Code has the potential to make a real and lasting difference to both current and future shared owners. I strongly urge all housing associations and other providers to embrace the Code and demonstrate their commitment to greater transparency, consistency and fairness in shared ownership.”

Kate Henderson, Chief Executive of the National Housing Federation, said: “Shared ownership helps thousands of people get onto the housing ladder and is a vital part of meeting the country’s housing need. However, we know that some shared owners have faced challenges which is why we support the Shared Ownership Code. The Code works in the best interests of shared owners, while supporting the industry to deliver an excellent product that speaks to its purpose of delivering affordable, secure homes for as many people as possible.”

Gavin Smart, Chief Executive of the Chartered Institute of Housing, said: “The launch of the Shared Ownership Code is a welcome step in establishing a stronger and fairer shared ownership market for both the consumers and housing sector. Adoption of the Code by housing providers will help to give shared owners and potential shared owners confidence that their home will be well managed and that their ongoing relationship with their shared ownership landlords will be transparent, fair and well run.”

Andrew Greenwood, Deputy Chief Executive of Leeds Building Society, said: “Shared ownership offers a lifeline for those priced out of full home ownership. It allows people to build equity over time and our research shows shared owners are on average £29,000 better off after ten years, when compared with private renters. But the scheme isn’t yet delivering all that it could. The new Shared Ownership Code is an important step in raising standards, improving the experience for buyers, and strengthening shared ownership’s place in the housing market. We’re calling on all providers to get on board.”

Tim Willcocks, Director at Heylo: "We’re committed to supporting the Shared Ownership Code as a way to simplify and improve the customer journey - from initial advertising through to management and resales. A consistent, sector-wide approach, shaped by customer feedback, is key to building trust and unlocking future growth. By working collaboratively and aligning around a clear set of standards, the sector can deliver better outcomes for customers, widen access to affordable homes, and secure the future of shared ownership as a vital part of the UK’s housing market."

Stephanie Ramsden, Director of Acquisitions, Sales and Partnerships at Housing 21: "Shared ownership plays a vital role in the wider housing landscape and enables us to provide affordable housing for older people in need through the OPSO model. The Shared Ownership Code will bring consistency to how information is shared with customers, ensuring greater transparency from the outset. Not only does it add an extra level of accountability, but it helps customers better understand what they’re being offered and charged, right from the point of application.”

Debra Saunders, Director of Marketing & Sales LiveWest, said: "We believe the Shared Ownership Code has the potential to bring much-needed consistency across the sector. If all housing providers commit to the same standards, it will become a recognised benchmark for lenders, solicitors, auditors, and the Housing Ombudsman – reassuring all parties that best practice is being followed. Signing up to the Code is not only about strengthening standards, but also about enhancing the reputation of housing providers and building greater trust with customers. The more early adopters we see, the quicker the benefits will be felt across the sector."

Alison Gittins, Head of Sales at Onward, said: "The Shared Ownership Code offers huge benefits to customers, by bringing the sector together to create greater consistency in how we communicate and deliver shared ownership. Having more housing providers sign-up to the Code is vital for future-proofing the delivery of shared ownership and protecting the long-term health of the secondary market. We have a mutual responsibility to make this model work – the Code is a strong mechanism for bringing housing providers together to deliver on that shared goal."

Claire Blenkin, Head of Sales (South) at SNG, said: “It will be important for as many providers as possible to sign up to the Code to ensure fairness and consistency for customers in the sector. We think the impact will be that shared ownership customers will be more educated and aware of what to expect, so they can challenge unfair practices. The Code will give providers a ‘workable pathway’ to adoption, with the Council offering guidance and templates to help others take up the Code.”

The Shared Ownership Code is now available for shared ownership housing providers to register to adopt on a voluntary basis – organisations can register their interest here.