The Leaders and Romans shared ownership division will remain part of LRG while offering customers access to surveys, mortgages and insurance advice.
In the last five years, the shared ownership business has facilitated the exchange and completion of more than 2,000 properties.
LRG is also the parent company of Mortgage Scout.
The SOWN team is already operating across the UK and working with a number of housing associations and providers including Citra, L&G, Network Homes and The Guinness Partnership.
Adrian Plant, director of SOWN, said: “Our team has had an unprecedented year as demand for shared ownership has never been stronger. Our links to Leaders, Romans, and the many other brands and services within the group has been, and continues to be, an important aspect of our growth. But the creation of SOWN enables us to move forward into new geographic areas, replicating that success throughout the country.
“It also helps us elevate the profile of shared ownership and gives us a platform to promote its benefits with the huge proportion of the UK that doesn’t understand it and doesn’t know that it is an option for them.”
Peter Kavanagh, chief executive of LRG, said: “The evolution of LRG’s shared ownership division and ultimately the creation of SOWN is a big success story for the group. We’re proud to have helped thousands of people onto the property ladder – importantly, those who could not have done so on the open market, but also those who saw shared ownership as a means of buying their dream home, perhaps earlier than they might have done, or in their preferred location.
“Shared ownership is one of the fastest growing sectors within the property industry. It’s one which has been little understood until recently but offers an opportunity to so many. We’re proud to be part of its exponential growth and see the creation of SOWN as an important step in that process.”
