Statutory Instrument 1989 No. 2102

The Housing (Right to Buy)(Priority of Charges)(No. 2) Order 1989

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© Crown Copyright 1989

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1989 No. 2102

HOUSING, ENGLAND AND WALES

The Housing (Right to Buy)(Priority of Charges)(No. 2) Order 1989

The Secretary of State for the Environment, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of the powers conferred on them by section 156(4) of the Housing Act 1985^[1] , and of all other powers enabling them in that behalf, and with the consent of the Treasury, hereby make the following Order:

    1.    This Order may be cited as the Housing (Right to Buy) (Priority of Charges) (No.2) Order 1989 and shall come into force on 4th December 1989.

    2.    The following bodies are hereby specified as approved lending institutions for the purposes of section 156 of the Housing Act 1985:-
 (a)  Equity & Law Home Loans Limited
 (b)  Credit Agricole Personal Finance plc
 (c)  Credit Agricole Mortgage Company No. 1 Limited
 (d)  Credit Agricole Mortgage Company No. 2 Limited
 (e)  Credit Agricole Mortgage Company No. 3 Limited
 (f)  Providence Capitol Home Loans Limited
 (g)  Providence Capitol Mortgage Services Limited
 (h)  Providence Capitol Mortgage Services (No. 2) Limited
 (i)  Scotlife Home Loans (No. 3) Limited
 (j)  CIBC Mortgages plc
 (k)  Mortgages plc
 (l)  UCB Home Loans Corporation Limited
 (m)  Secured Residential Funding plc
 (n)  The Mortgage Corporation Limited.

Chris Patten

Secretary of State for the Environment

8th November 1989

Peter Walker

Secretary of State for Wales

9th November 1989
We consent,

John Taylor

Stephen Dorrell

Two of the Lords Commissioners of Her Majesty's Treasury

13th November 1989

Under the Housing Act 1985 ("the 1985 Act" ) liability to repay discount following the exercise of the right to buy or the right to be granted a shared ownership lease is secured by a charge on the dwelling-house. Such a charge does not have priority over certain charges securing advances by bodies which are approved lending institutions for the purposes of section 156 of that Act.

Such bodies are also approved lending institutions for the purposes of section 36 of the 1985 Act (priority of charges on voluntary disposal by a local authority) and paragraph 2 of Schedule 2 to the Housing Associations Act 1985 (c. 69) (priority of charges on voluntary disposal by a housing association) dealing with voluntary disposals at a discount by local authorities and housing associations respectively.

Article 2 of this Order specifies fourteen additional bodies as approved lending institutions. (Other bodies have been specified by previous orders.)

[1] 1985 c. 68. back