After sale shared equity procedures: guidance 2019
Updated guidance to procedures to be followed for all after sale transactions related to shared equity properties.
5 Increase stake to 100% (No Golden Share)
Where an owner wishes to increase their equity stake to 100 per cent, the arrangements set out in Section 5 shall apply with regard to Valuation and reliance. Once a copy of the Valuation is received it should be forwarded within seven days to the shared equity owner who has three months to increase their equity stake and make payment.
If the owner decides to proceed following receipt of the Valuation, Harper Macleod should be instructed to prepare a Discharge of the existing Scottish Ministers security. The RSL should send the More Homes Division Finance team an Equity Stake Increase Form as set out in Annex 3(H) and arrange for the capital receipt to be returned to More Homes Division Finance team. They can be contacted at Shared_Equity_Support@gov.scot
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