SOC’s Full Statement for BBC’s Recent Story on Shared Ownership

The Shared Ownership Council was approached by the BBC for comment ahead of the publication of their recent story on shared ownership. In response, we submitted a full written statement, it acknowledges the challenges with shared ownership but also highlights the value it offers and how the new Code is designed to raise standards across the sector and drive improvements to the experiences of current and future shared owners. 

Our full statement that was shared with the BBC can be viewed below:

At the Shared Ownership Council, we are committed to driving improvements to the shared owner experience to unlock a stronger and fairer shared ownership market. 

While we believe that shared ownership has a key role to play in addressing housing needs, we recognise it has not always worked as well as it should for everyone, and that there are key challenges with the product which must be addressed. 

We take the concerns raised by the Housing Ombudsman and shared owners very seriously. These challenges with shared ownership - particularly around communication, service charges, repairs, and resales - are exactly the issues the new Shared Ownership Code is designed to address. They are areas that were raised and explored extensively during our consultation with shared owners and the sector, which alongside the pilot with housing providers, has helped shape the Shared Ownership Code. 

The Code sets out to drive better experiences for shared owners and best practice across industry. It aims to ensure transparency, fairness, and improved support for shared owners in the marketing, purchasing, and management of homes.  

While signing up to the Code is voluntary, any housing provider that adopts it will be held to its mandatory standards, and the Housing Ombudsman can take the Code into account when considering complaints (52.b). Though some may feel it’s too late, we see that with widespread adoption, the Code is a real starting point for change – an opportunity to rebuild trust and raise standards for the good of current and future shared owners.  

We understand that trust must be earned through action. That’s why several housing providers involved in the pilot have already begun implementing changes and improvements to their practices in line with the Code’s requirements – some of which include improving customer information, increasing staff training, communicating support for the resales process, and strengthening transparency around service charges and repairs. 

We agree that consistency of good practice and better-resourced support services are vital. The Code is one step in a broader effort to raise standards and ensure shared owners get the clarity, consistency, and service they deserve.