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The Housing (Right to Buy) (Priority of Charges) (No. 2) Order 1993
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- 1993 No. 2757
- Explanatory Note
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Explanatory Note
(This note is not part of the Order)
Under the Housing Act 1985 liability to repay discount following the exercise of the right to buy or the right to acquire on rent to mortgage terms is secured by a charge on the dwelling-house. Such a charge does not have priority over certain charges securing advances by bodies which are approved lending institutions for the purposes of section 156 of that Act.
Such bodies are also approved lending institutions for the purposes of section 36 of that Act (priority of charges on voluntary disposal by a local authority) and paragraph 2 of Schedule 2 to the Housing Associations Act 1985 (c. 69) (priority of charges on voluntary disposal by a housing association) dealing with voluntary disposals at a discount by local authorities and housing associations respectively.
Article 2 of this Order specifies four additional bodies as approved lending institutions. Other bodies have been specified by previous Orders.
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