Consultation on the Shared Ownership Council’s draft Code of Good Practice

The Shared Ownership Council (SOC) has launched a consumer and industry consultation on its draft Code of Good Practice. The SOC code seeks to improve consumer experience of shared ownership, irrespective of their location or type of property they live in.

While not centred around specialist or supported housing, and programmes such as Older Persons Shared Ownership or HOLD, it sets out clear consumer protection standards for the marketing, selling and ongoing management of shared ownership homes. For example, it seeks to:

• Raise standards to improve protections for current and future shared owners
• Improve consumer experience of shared ownership through a clear and fair understanding prior to purchase and support during ownership and at sale
• Ensure best practice and drive consistency in the information available to consumers, including ensuring transparency, fairness and awareness of what service levels to expect

The intention is that organisations across the shared ownership sector will sign up to this voluntary Code and deliver their function in accordance with the criteria set out, initially only applying to new properties.

The consultation will be open until September. If you are a consumer and a potential, present or past shared owner, SOC welcome your views on the Code or its executive summary version via a survey that can be accessed here. (opens new window)