Part 3Other provisions

Chapter 2Landlord and tenant matters

Right to buy etc: miscellaneous

307Approved lending institutions

1

In section 156 of the Housing Act 1985 (liability to repay is a charge on the premises)—

a

in subsection (4) for “and any body specified, or of a class or description specified, in an order made by the Secretary of State” substitute— “ an authorised mortgage lender. ”, and

b

omit subsections (5) and (6).

2

In section 622(1) of that Act (minor definitions: general), after the definition of “authorised insurer”, insert—

“authorised mortgage lender” means—

a

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to enter into a regulated mortgage contract as lender,

b

an EEA firm of the kind mentioned in paragraph (5)(b) of Schedule 3 to that Act who has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to enter into a regulated mortgage contract as lender, or

c

a Treaty firm within the meaning of Schedule 4 to that Act who has permission under paragraph 4 of that Schedule (as a result of qualifying for authorisation under paragraph 2 of that Schedule) to enter into a regulated mortgage contract as lender;

3

In section 622(2) of that Act (interpretation of “authorised deposit taker” and “authorised insurer”) for “and “authorised insurer”” substitute “ “ , “authorised insurer”and “authorised mortgage lender” ”.

4

In section 36(4) of that Act (priority of charges: approved lending institutions) for the words from “and any body” to the end substitute— “ an authorised mortgage lender. ”

5

In section 151B(5) of that Act (priority of charges: approved lending institutions) for the words from “and any body” to the end substitute— “ an authorised mortgage lender. ”

6

In paragraph 2(5) of Schedule 11 to the Housing Act 1988 (c. 50) (priority of charges: approved lending institutions) for paragraph (e) substitute—

e

an authorised mortgage lender (within the meaning of the Housing Act 1985 (see section 622 of that Act)).

7

In section 12(5) of the Housing Act 1996 (c. 52) (priority of charges: approved lending institutions) for paragraph (c) substitute—

c

an authorised mortgage lender (within the meaning of the Housing Act 1985 (see section 622 of that Act)).