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Statutory Instrument 1992 No. 1706

The Housing (Right to Buy) (Mortgage Costs) Order 1992

(The document as of February, 2008. Arhiv.Online Library)

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STATUTORY INSTRUMENTS

1992 No. 1706

HOUSING, ENGLAND AND WALES

The Housing (Right to Buy) (Mortgage Costs) Order 1992

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Made15th July 1992
Laid before Parliament16th July 1992
Coming into force17th August 1992

    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 178 of the Housing Act 1985[1], and of all other powers enabling them in that behalf, hereby make the following Order:
    Citation, commencement and interpretation
        1.—(1)  This Order may be cited as the Housing (Right to Buy) (Mortgage Costs) Order 1992 and shall come into force on 17th August 1992.

        (2)  In this Order "the Act" means the Housing Act 1985.
    Specified Amount
        2.    The amount of £100 is specified as the maximum amount which may be charged under section 178(2) of the Act in respect of the costs incurred in connection with a tenant's right to a mortgage or right to further advances.
    Revocation and saving
        3.—(1)  Subject to paragraph (2) below, the Housing (Right to Buy) (Mortgage Costs) Order 1980[2] is hereby revoked.

        (2)  That Order shall continue to apply in any case where a tenant's notice under section 134 of the Act claiming to exercise the right to a mortgage or a tenant's notice mentioned in paragraph 1(2) of Schedule 9 to the Act claiming to exercise the right to a further advance was served before 17th August 1992.

        (3)  For the purposes of paragraph (2) above, no account shall be taken of any steps taken under section 177 of the Act (errors and omissions in notices).



Michael Howard

Secretary of State for the Environment

15th July 1992

David Hunt

Secretary of State for Wales

15th July 1992






EXPLANATORY NOTE

(This note is not part of the Order)
    Where a tenant exercises the right to a mortgage or the right to further advances in connection with his exercise of the right to buy under Part V of the Housing Act 1985 ("the Act"), the landlord (or, if the landlord is a housing association, the Housing Corporation (in England) or Housing for Wales (in Wales)) may charge to him the costs incurred in connection with his exercise of the right to a mortgage or to further advances, to the extent that they do not exceed such amount as the Secretary of State may specify by Order. Article 2 specifies £100 as the maximum amount which may be charged.
    Article 3 revokes the Housing (Right to Buy) (Mortgage Costs) Order 1980 which specified £50 as the maximum amount. The revocation does not apply in cases where a notice claiming to exercise the right to a mortgage or the right to a further advance is served before the coming into force of this Order.



ISBN 0 11 024706 X




Notes:

[1] 1985 c. 68; section 178 was amended by the Housing Act 1988 (c. 50), Schedule 17, paragraph 106.

[2] S.I. 1980/1390, which was retained in force by section 2 of the Housing (Consequential Provisions) Act 1985 (c. 71).

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