PART XIV LOANS FOR ACQUISITION OR IMPROVEMENT OF HOUSING

Assistance for first-time buyers

447Recognised lending institutions.

(1)

The lending institutions recognised for the purposes of section 445 (assistance for first-time buyers) are—

  • F1an authorised deposit taker

  • an authorised insurer

  • F2. . .

    • local authorities,

    • F3development corporations,

    • the Development Board for Rural Wales,

    • F2. . .

    • F2. . .

    • F2. . .

    • F2. . .

    • F4Swansea Building Society

    • F5Abbey Life Home Service Limited.

    • Abbey Life Mortgage Securities Limited.

    • Abbey Life Residential Loans Limited.

    • General Portfolio Finance Limited.

    • Royal London Homebuy Limited.

    • F6Abbey Life Mortgage Finance Limited,

    • Abbey Life Mortgage Loans Limited,

    • CIS Mortgage Maker Limited

    • F7Mortgage Express Ltd.

    • F8Halifax Loans Limited

    • BNP Mortgages Limited.

    • F9Sun Life of Canada Home Loans Limited

    • Halifax Loans (No.2) Limited

    • Halifax Loans (No.3) Limited

    • Halifax Loans (No.4) Limited.

(2)

The Secretary of State may by order made with the consent of the Treasury—

(a)

add to the list in subsection (1), or

(b)

direct that a named body shall no longer be a recognised lending institution;

but before making an order under paragraph (b) he shall give an opportunity for representations to be made on behalf of the body concerned.

(3)

An order shall be made by statutory instrument.