Publication - Advice and guidance

After sale shared equity procedures: guidance 2019

Published: 15 Feb 2019
Directorate:
Housing and Social Justice Directorate
Part of:
Housing
ISBN:
9781787815872

Updated guidance to procedures to be followed for all after sale transactions related to shared equity properties.

96 page PDF

907.0 kB

96 page PDF

907.0 kB

Contents
After sale shared equity procedures: guidance 2019
Annex 6: Expiry of 19 years / Application of 20 year security rule

96 page PDF

907.0 kB

Annex 6: Expiry of 19 years / Application of 20 year security rule

Please see section 9 of the procedures for an explanation of the position in relation to the potential application of the "20 year security rule", following the coming into effect of the Redemption of Heritable Securities (Excluded Securities) (Scotland) Order 2018 on 15 February 2019.

Standard securities granted in relation to some shared equity schemes will still be subject to the 20 year rule, in which case affected shared equity owners may have to grant a new standard security in year 19 of their shared equity arrangements, in order to avoid triggering a payment event.

No particular template is being specified for use when making contact with and dealing with affected shared equity owners.


Contact

Email: SharedEquityEnquiries@gov.scot