Housebuilder Vistry has called for a new ‘Choice-led Shared Ownership’ model to contribute up to 30,000 homes a year towards the government’s 1.5 million homes target.
The house builder is among a coalition of 35 housing sector organisations which have participated in the development of a new white paper showing how the model could accelerate housing delivery.
The idea behind Choice-led Shared Ownership is to enable eligible first-time buyers to purchase any qualifying new-build home on shared terms, with minimal public subsidy. The model involves a minimum initial share of 60% purchased via a conventional mortgage. A rent of 3.5% would be payable on the remaining 40% of the home.
The idea proposed in the white paper is that this would be supported by institutional capital, a lender-provided debt tranche and a proposed 1% National Housing Bank equity contribution. The buyer would be able to increase their ownership share over time through staircasing, potentially reaching 100% ownership.
Analysis presented in the white paper estimates the initiative could support the building of up to 30,000 homes a year.
Stephen Teagle, CEO, partnerships and regeneration at Vistry, said: “This report demonstrates that Choice-led Shared Ownership is implementable and scalable, offering a practical route to more accessibility and affordability for first-time buyers. It also has the potential to make a significant contribution to GDP and housing delivery, with minimal reliance on public subsidy.
“It is clear that momentum is building behind this concept. Government and the housing and investment sectors now have an opportunity to turn that momentum into action, supporting economic growth while helping more first-time buyers access to high-quality new homes.”
The white paper outlines a series of recommendations to bring the model to market, including the establishment of a Choice-led Shared Ownership Taskforce in 2026, bringing together UK homebuilders with support from the Ministry of Housing, Communities and Local Government (MHCLG).
The taskforce would be responsible for creating an operational model ready for launch, gathering a firm pipeline of opportunities for investors and engaging with consumers.
Alex Notay, chief executive at The Housing Forum, said: “Tackling the housing crisis requires all elements of the housing ecosystem to be firing on all cylinders and this white paper on Choice-led Shared Ownership is a strong contribution to that collective effort.
“It directly reflects the priorities set out in The Housing Forum’s most recent Housing Solutions report; especially the need to widen access for first-time buyers by modernising shared ownership income limits, improving consumer choice, and creating clearer, more flexible routes into ownership.
“We have called for practical, cost-free measures that government can swiftly enact to unlock supply and support new buyers. These proposals align with that agenda and help to move the sector towards solutions that are genuinely responsive to first-time buyer needs.”
Paul Rickard, chief executive at Pocket Living, said: “For the first time in 60 years there is no support for first-time buyers. Our recent first-time buyer commission illustrated the importance of new sector led ideas and the creative thinking in this report frames the debate we need in order to support home builders, home buyers, and leverage in institution investment that remains nervous of UK residential housing.
“Critically, this proposal also has the potential to support SMEs like Pocket as much as national providers.”
