The recent publication of new national joint guidance for shared ownership in England is a timely prompt to look again at how this tenure can work better for consumers, providers, lenders and investors. It also points to a wider issue: the need for a clear long-term plan for how every part of the housing system will contribute to delivery, affordability and better consumer outcomes.

The new government under the premiership of Andy Burnham with Angela Rayner returned as Secretary of State for Housing has seen a reassertion of commitment to social rented homes and council housebuilding. 

Social housing provides safe, secure, and low-cost homes for people on low incomes, people who are homeless, and vulnerable groups who cannot afford market rent or to buy a property.

Prioritising social housing delivery through government-funded programmes is a strong policy choice that can address many of the challenges people face in accessing the homes they need today.

Social rent must be central to that plan, but it cannot be the whole strategy. Outright ownership, shared ownership and private renting all have roles to play alongside social rent, particularly as people move between life stages, income levels and household circumstances.

Government had previously committed to publish a long-term housing strategy setting out how the main tenures can work together. 

That strategy is now urgently needed.

UK Finance members have an important role in this debate. They provide residential and buy-to-let mortgages, as well as commercial funding and investment for housing associations delivering social rent and shared ownership homes. A healthier housing market, with more options for more people, depends on long-term certainty.

A long-term strategy would give lenders and investors the certainty needed to support delivery and keep products sustainable for consumers. It should be published without further delay.

The new guidance is therefore a welcome development in making sure that shared ownership is fit for purpose within that wider tenure mix. Shared ownership should continue to be a key part of the housing system, but it is not without its challenges.

A National Audit Office investigation into shared ownership published in March 2026 highlighted concerns around affordability, rising costs and the complexity of the model.

Shared ownership is also often poorly understood by purchasers, while policymakers have limited data about customer journeys and longer-term outcomes. Poor customer experiences mean the tenure is increasingly under the spotlight.

Recent Lords amendments to the Social Housing Bill have added to calls for a review of shared ownership, reflecting concerns about lived experience, building safety, maintenance and resale.

That scrutiny should be treated as an opportunity to reform and improve the tenure rather than replace it. The priorities are clear: affordability over time, transparency of costs, simpler staircasing, better data and stronger customer understanding. Good work is already underway to improve customer outcomes and experiences through the Shared Ownership Consumer Code as well as the new national joint guidance for providers.

Housing is an essential driver of economic growth, and good quality housing also directly supports health and education outcomes. The government should publish its long-term housing strategy without delay, setting out how each tenure will contribute to supply, affordability, consumer outcomes and economic growth.

Shared ownership reform should be part of that wider strategy. UK Finance, shared ownership lenders and housing association investors will be keen to contribute to this work and support the reforms needed to make shared ownership work better for consumers and the wider housing market.