07 September 2026
Vistry leads calls for new Choice-led Shared Ownership model to help solve the UK’s housing crisis
The proposed model could contribute 30,000 new homes a year towards the Government's 1.5 million homes target, while opening the door to homeownership for more first-time buyers.
A new white paper from leading homebuilder Vistry and a coalition of supporters from across the housing sector sets out how a new housing model could help accelerate housing delivery across the country while unlocking homeownership for more first-time buyers.
Choice-led Shared Ownership would enable eligible first-time buyers to purchase any qualifying new build home of their choice, on shared terms, with minimal public subsidy.
The model has a minimum initial share of 60% purchased via a conventional mortgage and rent of 3.5% payable on the remaining 40% 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.
Designed to complement rather than compete with existing shared ownership provision, Choice-led Shared Ownership would expand consumer choice and appeal to the "squeezed middle" of aspiring homeowners who are closer to being able to buy on the open market than traditional shared owners but remain locked out by deposit requirements and lender affordability testing.
Backed primarily by institutional investment, Choice-led Shared Ownership would offer a scalable route to homeownership with reduced reliance on grant funding. Vistry and supporters of the model are calling for further targeted support from the National Housing Bank to deliver the product nationally.
Analysis presented in the white paper estimates that the proposition could support up to 30,000 homes a year. Newbridge Advisors developed an illustrative per-property model to assess the proposed funding structure and indicative investor returns. The report was developed in consultation with representatives from the housing sector, institutional investors, and policymakers. Engaging with more than 35 organisations, including registered providers, investors, government representatives and sector bodies, the consultation revealed broad support for the model among stakeholders across the country, with many viewing it as an effective way to boost housing supply and help more people take their first step towards homeownership.
The report identifies five potential benefits of the proposed model:
- Improving affordability and giving customers more choice for a quality new build home.
- Accelerating the delivery of new homes, with the potential for 150,000 new homes over a five-year period, equivalent to around 10% of the Government’s 1.5 million homes target.
- Potentially reducing the grant requirement by up to £10.5 billion compared with delivering an equivalent number of homes through traditional grant-funded shared ownership.
- Reducing deposit requirements by up to 40% as buyers only need to cover their share of the property rather than the full market value.
- Providing greater visibility over ongoing housing costs, with rent increasing according to a defined formula.
Stephen Teagle, CEO, Partnerships & 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 also outlines a series of recommendations for the market participants required to bring the model to market. Central to these recommendations is 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.
The Taskforce would then be responsible for creating an operational model ready for launch, gathering a firm pipeline of opportunities for investors and engaging with consumers, to ensure that this momentum can be built into real progress and impact.
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."
The full white paper report Choice-led Shared Ownership is available here. The model remains under development, informed by ongoing discussions with the National Housing Bank, key policymakers, and organisations across the housing sector.