Abri, has announced it will be one of the first adopters of the Shared Ownership Code. The Code establishes a sector-wide set of standards designed to improve the experience of Shared Ownership customers.
The Code was developed by the Shared Ownership Council to unlock a stronger and fairer Shared Ownership market. It is a voluntary code of practice for housing providers, setting out clear requirements for how Shared Ownership homes are marketed, purchased and managed. Designed to complement existing regulation, the Code aims to raise standards across the sector, by improving transparency, fairness and customer support for shared owners.
Stuart Hensby, Sales and Marketing Director at Abri comments:
“At Abri, our customers are at the heart of everything we do. Shared Ownership is a fantastic opportunity for people to step onto the housing ladder, but we know that the experience for shared owners across the sector can be improved. Adopting the Shared Ownership Code is an important step in helping us provide clearer information, stronger support and a better overall experience for our customers.
As part of our commitment, we have conducted our own strategic review of shared ownership which has enhanced our processes and training to align with the Code. We’re proud to be part of a sector-wide effort to raise standards. By listening to customers and continuously improving our services, we can help ensure Shared Ownership remains a transparent, supportive and accessible route into home ownership.”
Shared Ownership is a government-backed scheme designed to help first-time buyers and home movers who cannot afford to buy a home on the open market. Eligible applicants can purchase a share of a property and pay rent on the remainder, with household incomes of up to £80,000 a year, or £90,000 in London. To secure a share in the property, buyers require a minimum 5% deposit of the share, securing a mortgage on the part they own, or buying the share outright if they can afford to do so. A reduced rent is payable on the remaining share, with the option to buy additional shares when ready.