A new Shared Ownership Code (“the Code”) has been created by the Shared Ownership Council, which is backed by 27 housing providers and financial institutions, alongside housing associations and shared ownership specialists. Social landlords can now sign up to this voluntary Code designed in an attempt to standardise the shared ownership offering in the UK and raise standards.

The Code has been developed over a consultation with customers, mortgage lenders and other stakeholders, over the last 18 months following a four-month pilot with eight landlords.

It is designed to improve the shared ownership experience and increase satisfaction. It is proposed to cover all organisations that interact with shared owners aiming to ensure fairness, transparency and improved support for shared owners in marketing, purchasing, and management of their homes. There is also hope that this increasingly standardised model will help provide additional investment into the product.