We’re pleased to share that we’ve been successful in our application to adopt the national Shared Ownership Code.
Shared Ownership is one of the affordable routes to homeownership that we offer. It allows you to purchase a percentage of a home, whilst paying rent on the rest. Overtime homeowners can purchase more shares, allowing them to take the home buying process at their own pace.
With 1,329 shared ownership customers, it’s an important step forward in further strengthening the experience we offer to those interested in shared ownership, and shared ownership customers, ensuring we create an experience that is transparent, fair and consistently high quality.
It’s a national code of practice available to all registered shared ownership providers, including housing associations, for-profit providers and local authorities.
It’s designed to help us ensure we’re providing the best possible experience to both new and existing shared ownership customers. From the first buying enquiry to selling your shared ownership home, you will receive clear information, fair treatment and the right support throughout your journey.
The Shared Ownership Council was formed to improve the shared ownership market and customer experience, which developed the code after running a consultation and pilot with customers and housing providers.
The New Homes Quality Board, which promotes quality and standards across the new homes sector, recently took on the role of supporting and overseeing the code.
What does it mean for customers?
There are seven principles of the Shared Ownership Code, which housing providers agree to follow when they adopt the Code. These include:
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Clarity of information – ensure shared owners and prospective shared owners have clear information on what shared ownership is, their responsibilities as shared owners and our responsibilities.
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Cost transparency – make clear what the different categories of costs are for shared owners and how they may change over time. Have clear, accessible procedures to support shared owners navigating these costs.
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Parity – ensure that shared owners buying new homes receive similar standards of sales transparency and completion as with other new homeowners.
-
Staircasing and selling – establish clear and accessible policies on staircasing and selling, and signpost shared owners to comprehensive information and guidance to help them understand and navigate the staircasing and selling processes.
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Unplanned costs – offer options to support shared owners to better manage unplanned costs, and where suitable, point them towards external guidance.
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Service charges – have clear policies on how to address shared owners’ service requests and complaints and seek to resolve them promptly.
-
Vulnerable customers – ensure that everyone is given an equal opportunity to buy a shared ownership home.
What’s the benefit of Karbon joining?
Adopting the code further shows our commitment to delivering a fair, transparent and supportive experience for our customers. It helps us:
We’re pleased to share that we’ve been successful in our application to adopt the national Shared Ownership Code.
Shared Ownership is one of the affordable routes to homeownership that we offer. It allows you to purchase a percentage of a home, whilst paying rent on the rest. Overtime homeowners can purchase more shares, allowing them to take the home buying process at their own pace.
With 1,329 shared ownership customers, it’s an important step forward in further strengthening the experience we offer to those interested in shared ownership, and shared ownership customers, ensuring we create an experience that is transparent, fair and consistently high quality.
What is the code?
It’s a national code of practice available to all registered shared ownership providers, including housing associations, for-profit providers and local authorities.
It’s designed to help us ensure we’re providing the best possible experience to both new and existing shared ownership customers. From the first buying enquiry to selling your shared ownership home, you will receive clear information, fair treatment and the right support throughout your journey.
How was it created?
The Shared Ownership Council was formed to improve the shared ownership market and customer experience, which developed the code after running a consultation and pilot with customers and housing providers.
The New Homes Quality Board, which promotes quality and standards across the new homes sector, recently took on the role of supporting and overseeing the code.
What does it mean for customers?
There are seven principles of the Shared Ownership Code, which housing providers agree to follow when they adopt the Code. These include:
Clarity of information – ensure shared owners and prospective shared owners have clear information on what shared ownership is, their responsibilities as shared owners and our responsibilities.
Cost transparency – make clear what the different categories of costs are for shared owners and how they may change over time. Have clear, accessible procedures to support shared owners navigating these costs.
Parity – ensure that shared owners buying new homes receive similar standards of sales transparency and completion as with other new homeowners.
Staircasing and selling – establish clear and accessible policies on staircasing and selling, and signpost shared owners to comprehensive information and guidance to help them understand and navigate the staircasing and selling processes.
Unplanned costs – offer options to support shared owners to better manage unplanned costs, and where suitable, point them towards external guidance.
Service charges – have clear policies on how to address shared owners’ service requests and complaints and seek to resolve them promptly.
Vulnerable customers – ensure that everyone is given an equal opportunity to buy a shared ownership home.
What’s the benefit of Karbon joining?
Adopting the code further shows our commitment to delivering a fair, transparent and supportive experience for our customers. It helps us:
Build greater trust with shared owners
Support customers to make informed decisions and feel confident throughout their ownership journey
Align with national best practice
Demonstrate leadership within the sector
You can read more about the code here: Shared Ownership Code.
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