The Shared Ownership Council has transferred responsibility for its operator code to the New Homes Quality Board as the body winds up.  

The council has moved the running of its shared ownership code to the NHQB, a non-profit organisation, which sets the standard for the quality of new homes and the customer service provided by developers in the UK. 

It will take full responsibility for the code, including its operations, governance and financial stability.   

The NHQB board comprises members from consumer bodies, developers, providers of new home warranties, lenders and Homes England. 

The council is a cross-industry initiative established in 2023, “with the core aim of developing a shared ownership code for housing providers”. 

But it adds, “having achieved its purpose and ensured the code has a sustainable long-term home”, the body will disband on 16 October.

The council’s code was published in June, and it adds that since then, 54 organisations have “registered interest” in adopting its guidelines. 

The council says the code aims to:

• Raise standards to improve protections for current and future shared owners 

• Improve customer experience of shared ownership through a clear and fair understanding prior to purchase and support during ownership and at sale

• Ensure best practice and drive consistency in the information available to customers, including ensuring transparency, fairness and awareness of what service levels to expect

The NHQB has set up a new subsidiary body to run the code, which will have its own board with a range of experienced non-executive directors. 

Shared Ownership Council chair Ann Santry will temporarily serve as chair of the new board for three months. 

NHQB will also create a range of advisory panels to regularly review the code. 

Santry says: “We’re confident that the code will be in safe and capable hands with NHQB.

“Our shared values, combined with their experience, infrastructure, and governance, will ensure effective implementation and better outcomes for current and future shared owners.” 

NHQB chief executive Emma Toms adds: “NHQB brings a proven track record and deep expertise from running the New Homes Quality Code, which already covers over 56% of all new build homes in Britain.  

“We look forward to applying this experience to the shared ownership code, ensuring shared homeowners benefit from high standards of protection and quality.” 

Lloyds Banking Group head of housing development & sustainability Andy Dean points out: “Lloyds Banking Group has supported the Shared Ownership Council from the outset, and the transition of the Code to NHQB marks an important milestone.  

“Entrusting it to an organisation with NHQB’s credibility and track record is a significant step forward — laying the groundwork for greater consistency, transparency and trust in shared ownership, with a continued focus on the experience and needs of customers.” 

Leeds Building Society deputy chief executive Andrew Greenwood adds: “Shared ownership offers a lifeline for those priced out of full ownership, and the shared ownership code is an important step in raising standards, improving the experience for buyers, and strengthening shared ownership’s place in the housing market.”