PART XIV LOANS FOR ACQUISITION OR IMPROVEMENT OF HOUSING

Local authority assistance in connection with mortgages

C1443 Local authority contributions to mortgage costs.

1

A local authority may contribute towards costs incurred by a person in connection with a legal charge which secures, or a proposed legal charge which is intended to secure, a relevant advance made or proposed to be made to him by a building society or recognised body.

2

The contribution shall not exceed such amount as may be specified by order of the Secretary of State.

3

An order shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.