Open Market Shared Equity Scheme: administrative procedures

Footnotes

1 Sellers do not need to provide a Home Report if their property is classified as either ‘new housing’ or ‘newly converted premises’. New housing includes homes that may be sold ‘off-plan’ to the first purchaser or sold to the first occupier. And newly converted premises means a property which is being, or has been, converted to a home if it has not previously been used in its converted state.

2 These are illustrative figures and may vary from time to time.

3 The total number of ‘live’ passport letters should exclude property purchases that have taken place.

4 The total number of ‘live’ passport letters should exclude property purchases that have taken place.

5 The term ‘local area’ refers to the areas where individual maximum price ceilings have been set.

6 The figure entered here should be the total price of properties purchased plus the Administering Agent’s total administrative costs.

7 The term ‘local area’ refers to the areas where individual purchase maximum price ceilings have been set.