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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> Housing (Right to Buy) (Priority of Charges) Order 1987 No. 1203 URL: http://www.bailii.org/uk/legis/num_reg/1987/uksi_19871203_en.html |
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Statutory Instruments
HOUSING, ENGLAND AND WALES
Made
9th July 1987
Coming into force
30th July 1987
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 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) Order 1987 and shall come into force on 30th July 1987.
2. The bodies named in the Schedule to this Order are hereby specified for the purposes of section 156(4) of the Housing Act 1985.
1. Yorkshire Bank Home Loans Limited.
2. National Mutual Home Loans plc.
3. Confederation Mortgage Services Limited.
4. CL Mortgages Limited.
5. Abbey Life Home Loans Limited.
Nicholas Ridley
Secretary of State for the Environment
2nd July 1987
Peter Walker
Secretary of State for Wales
2nd July 1987
We consent
Peter Lloyd
Michael Neubert
Two of the Lords Commissioners of Her Majesty's Treasury
9th July 1987
(This note is not part of the Order)
Under the Housing Act 1985 ("the 1985 Act") liability to repay discount following the exercise of the right to buy is secured by a charge on the dwelling-house. Such charges do not have priority over certain charges securing advances by bodies falling within section 156(4) of the 1985 Act. Certain bodies are listed in section 156(4), and additional bodies are specified by the Housing (Right to Buy) (Priority of Charges) Order 1984 (S.I. 1984/1554) and the Housing (Right to Buy) (Priority of Charges) Order 1985 (S.I. 1985/1979) which are retained in force by section 2 of the Housing (Consequential Provisions) Act 1985 (c. 71).
This Order specifies five additional bodies for the purposes of section 156(4) of the 1985 Act. These five bodies are also approved lending institutions for the purposes of section 36(4) of the 1985 Act and paragraph 2(4) of Schedule 2 to the Housing Associations Act 1985 (c. 69) dealing with voluntary disposals at a discount by local authorities and housing associations respectively.
