What is the Code of Good Practice?

The Shared Ownership Code of Good Practice (the “Code”) is a cross-industry initiative and is intended to cover all property organisations who deliver shared ownership, to standardise good practice from stakeholders across the sector.

This Code of Good Practice (the "Code") is intended to be one of the solutions to improving consumer experience of shared ownership, irrespective of their location or type of property they live in.

The Code sets out clear consumer protection standards for the marketing, selling and ongoing management of shared ownership homes. This sits alongside broader work on reform to further raise standards. People with first-hand experience of shared ownership have guided the development of the draft Code. Our intention is that organisations across the shared ownership sector will sign up to this Code and deliver their function in accordance with the criteria set out. It will be a voluntary Code, outside of regulation, and will initially apply to new properties as the standards become embedded. Details for membership are set out in the Code document.

The Code 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

This is a draft version of the Code that is being launched for consultation, to both consumers and industry stakeholders. . Alongside the Code, we have developed a short summary of the Code that outlines the key principles of the Code. The Code and the summary are linked, and can also be found below.

About the consultation

To collect your feedback on the Code, we have developed separate surveys for industry stakeholders and consumers. Alongside the surveys, we will also run focus groups for engaged consumers.

The consultation will be open until the 9th of September and details of how to participate in the consultation are included below: 

1. If you are a consumer and a potential, present or past shared owner we welcome your views on the Code or its executive summary version via a survey that can be accessed here. There is a £50 voucher prize draw for completion of the survey. We will also be running focus groups and you can register your interest to take part via the survey. Your time will be compensated for the focus groups.

2. If you are an industry participant or body, we would like your views on the Code via a survey that can be accessed here. 

We will be running focus groups in July for consumers. If you are interested, please contact us at soconsultation@socialfinance.org.uk. Your time will be compensated.

Please visit our FAQs page here if you have any question about the Code or consultation. If you have further questions, feel free to contact us at soconsultation@socialfinance.org.uk.