New charter launched to support the growth of shared ownership
Housing organisations are being urged to sign up to a new charter on shared ownership developed by CIH.
The charter has been developed by the Chartered Institute of Housing with the National Housing Group to help to promote the tenure and ensure that households which sign up to it have a positive experience.
It follows a report by CIH and Orbit earlier this year which revealed shared ownership has become one of the most popular routes to home ownership.
Gavin Smart, deputy chief executive of the Chartered Institute of Housing, said: “We’re delighted to be launching this new charter, which has been developed with sector leaders in the National Housing Group.
“Our research has shown that shared ownership is now seen as an option for the growing group of people for whom home ownership is increasingly out of reach, but who don’t have the level of need to qualify for social housing.
“The charter is a way of following up on the growing popularity of shared ownership and the government’s commitment to build more homes.
“We now want to make sure there is real impetus behind shared ownership in the sector with the ultimate aim of helping more people get access to a shared ownership home and have a good experience when they do so.”
Amy Nettleton, assistant development director - sales and marketing at Aster Group and NHG chair, said: “More people are recognising that shared ownership can help to alleviate the affordability crisis, particularly in areas with the highest house prices, such as the south of England. We need to see the sector commit to the charter and play its part in educating the public to build a strong market for this tried and tested way of helping people to get on the property ladder.”
The charter includes five core commitments for the organisations which sign up:
• They see shared ownership as a corporate and strategic priority
• They understand the market
• They are committed to providing expert and consistent customer service
• They provide information about shared ownership which is accessible and clear
• They are committed to continually reviewing services.
Earlier this year CIH published Shared Ownership 2.1 with Orbit. It showed the tenure was affordable across the vast majority of the UK, that it was significantly over-subscribed and that the sector has capacity to build many more homes.
It also revealed shared ownership is now one of the best known ways of getting onto the housing ladder, with some 34% of the 2,200 adults polled by Ipsos MORI saying they knew about shared ownership, compared to 32% who knew about right to buy and 28% who knew about the Help to Buy equity loan.
The shared ownership charter is available here.