In our latest impact chat, Social director, Luke Cross speaks to Ann Santry CBE, chair of the Shared Ownership Council (SOC) – a cross-sector initiative set up to drive improvements to the shared owner experience, with the goal of unlocking a stronger and fairer shared ownership product. 

Ann’s career in social housing spans 45 years, including her role as chief executive of Sovereign for 20 years, where she led the growth of the business from 11,000 to 56,000 homes. Alongside her current role as chair of SOC, Ann is also a non-executive director at Simply Affordable Homes and Hill Group. 

Here are some of the key takeaways from their discussion: 

 The purpose of shared ownership 

Ann describes the launch of the SO scheme in the 1980s as revolutionary, saying it provided a product which would help people get onto the housing ladder and that ‘there hadn’t been anything similar before that’. 

She points out that SO originally supported key workers like nurses, teachers and firefighters. Ann notes that many housing associations embraced SO to not only help people onto the property ladder, but to move people with more disposable income out of social rented homes – freeing up social housing for people more in need.  

How shared ownership has evolved 

When asked whether SO had achieved what it was set out to do, Ann highlights that the sector had not envisioned the significant gap between house prices and incomes. In spite of this, SO continues to play an important role in addressing housing needs across the UK, with many having had positive experiences with the scheme. 

Ann emphasises the importance of geography when it comes to the shared owner experience, adding that those living in houses in lower values areas outside of London tend to have a more positive experience with the scheme. 

“When SO [was introduced] the value of the property was closer to incomes, you could see a way of buying a share and then staircasing out to full ownership relatively quickly. Now in high priced areas you can’t see that same journey for people.” 

The need for more transparency and the Code 

SOC was introduced to improve the shared ownership offer and experience for both consumers and industry alike – this is shaped by the overarching goal of unlocking a stronger and fairer shared ownership market. Ann discusses how the Code provides greater clarity and consistency for current and future shared owners.  

“There was a feeling that the customer journey was a not as positive at it could be. There were inconsistencies, the product is complex, and people perhaps didn’t understand it as well as they could.” 

The Code focuses on creating a transparent customer journey, addressing issues like service charges and ensuring consumers feel well-informed and supported from the start. In doing so, the Code aims to drive better experiences for shared owners and best practice across the industry. 

Industry collaboration and a consumer-focused approach 

Ann says: “All organisations provide information and they think it’s clear. The test is whether the consumers think it’s clear, and if the feedback is, ‘we didn’t understand that this is what it meant’, then we have to listen to that.” 

Ann explains the Code went through an extensive consultation process, where feedback from both industry stakeholders, as well as current and prospective shared owners, was used to update the Code. This ensures that when launched this Spring, the Code is impactful for shared owners and practical for providers to implement. 

Future of shared ownership and the government’s role 

Referencing the Levelling Up, Housing and Communities Select Committee report on SO, Ann says: “One of the things we’re trying to do is to, in the run up to the new housing strategy, demonstrate the value of shared ownership […] it supports mixed communities [and] it enables people onto the home ownership ladder. What else is there for people who never get social rent?”  

However, there is hope that the upcoming housing strategy will better showcase the benefits of shared ownership. The industry is working to ensure that the Code’s implementation strengthens customer confidence and transparency in the long term, paving the way for a stronger and fairer shared ownership market. 

By Sydnee Bramble, Account Executive