Shared Ownership Council’s Code of Good Practice: A Game-Changer for Affordable Homeownership
Shared Ownership Council’s Code of Good Practice: A Game-Changer for Affordable Homeownership
Introduction: Why the Shared Ownership Council’s Code of Good Practice Matters
Shared ownership offers a pathway to affordable homeownership, but its increasing popularity requires consumer protections and transparency. The Shared Ownership Council’s Code of Good Practice establishes these standards. With the consultation on the draft Code ending soon, it’s essential for homebuilders and housing associations to get ahead and be ready.
In this article, we’ll explore how the draft Code impacts the sector and how Guided Home’s customer journey app can help providers comply, simplify handovers, and deliver better outcomes.
What the Shared Ownership Council’s Code Means for Homebuyers and Providers
The Code of Good Practice focuses on improving consumer protections and expanding access to shared ownership. Housing associations following the voluntary code must ensure the provision of consistent, accurate information with a commitment to maximum transparency. These principles align with Guided Home’s handover solution and customer journey app, designed to streamline the shared ownership journey by managing key property and safety information digitally. Homebuyers have access to a comprehensive resource throughout their ownership journey.
Key Objectives and Benefits of the Code and Guided Home
1. Enhancing Transparency in Shared Ownership
Transparency and access to consistent, accurate information are central to the Code. Guided Home’s customer journey app enables providers to digitally manage handovers, offering efficient sharing of key information, documents, home user guides, leaseholder costs, and staircasing details, along with seamless defect capture and reporting. This compliance-driven approach improves homebuyer trust and reduces friction throughout the ownership journey.
2. Improving Data Access for Consumers
The Code requires greater access to market and consumer data. Guided Home gives housing providers a digital channel to publish key information and data directly to customers instantly through the app. This ensures consistency and immediate accessibility to the latest information. With real-time updates, errors can be quickly resolved, and homeowners get a complete view of their property’s data, from handover packs to defects and service charges.
3. Supporting Leaseholders
Guided Home simplifies leaseholder support by offering easy access to key documentation and making staircasing or extending leases more straightforward. This reduces the cost associated with Code compliance and offers a better user experience for leaseholders. More transparency on staircasing processes also boosts uptake.
4. Ensuring Consistency Across Sites, Partners, and Providers
The Code sets standards for marketing, sales, and management. Guided Home’s digital workflow ensures transparency and consistency across multiple developments, helping housing associations of all sizes provide the same high-quality customer experience across regions, sites, and partnerships.
How the Code and Guided Home Will Reshape Shared Ownership
1. Boosting Consumer Confidence
Guided Home helps ensure compliance with the Shared Ownership Council’s Code, boosting homebuyer confidence through digital handovers and access to key information. This transparency enhances the overall customer experience and increases confidence in the shared ownership process.
2. Increasing Provider Accountability
Guided Home offers built-in record-keeping of everything shared with a homeowner, allowing providers to meet the Code’s standards for transparency and accountability. This ensures higher-quality service for shared ownership homes and a smoother journey for buyers.
3. Making Homeownership More Accessible
With a platform that supports the entire shared ownership journey, Guided Home allows housing providers to operate efficiently at scale while maintaining compliance. This makes shared ownership more attractive for both providers and buyers, enhancing the pathway to affordable homeownership.
Conclusion: A New Era of Shared Ownership with Guided Home
The Shared Ownership Council’s Code of Good Practice sets new standards for transparency, accountability, and consumer protection. Guided Home’s digital solution helps housing associations and homebuilders comply with these standards while transforming the shared ownership customer journey into a seamless and cost-effective process. As industry leaders like Places for People, Vivid, and Curo have shown, adopting Guided Home can help you stay ahead of the curve.
Book a demo now to see how Guided Home can support your shared ownership operations.
