What else do I need to know?
The Consumer Code for Home Builders applies to the New Supply Shared Equity Scheme and sets requirements that Home Builders who are registered with the supporting Home Warranty Bodies ( NHBC andPremier Guarantee & LABC New Home Warranty) must meet. The Consumer Code for Home Builders is intended to ensure buyers are treated fairly; establish certain levels of service; information they receive is reliable; and in the event of a dispute, tell them how to implement low cost resolution procedures. The registered social landlord administering your application to the New Supply Shared Equity scheme will provide you with further information on the Consumer Code for Home Builders and further information can also be found at www.consumercodeforhomebuilders.com
Registered social landlords will have more information on the requirements of the New Supply Shared Equity scheme. However, you are also strongly advised to take independent financial and legal advice before agreeing to take part in the scheme.
YOU SHOULD ALSO ENSURE THAT YOUR SOLICITOR ADVISES YOU ON THE TERMS OF ALL DOCUMENTATION AND THAT YOU ARE SATISFIED WITH THOSE TERMS BEFORE AGREEING TO ENTER INTO ANY LEGAL COMMITMENTS.
The shared equity arrangements will include the granting of a standard security to secure the rights of the Scottish Government. YOU SHOULD CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME, OR IF YOU WANT YOUR FAMILY TO INHERIT IT