PART XIVE+W LOANS FOR ACQUISITION OR IMPROVEMENT OF HOUSING

Assistance for first-time buyersE+W

447 Recognised lending institutions.E+W

(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.

Textual Amendments

F1Words in s. 447(1) inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 299(5)(b)

F2Words in s. 447(1) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 299(5)(a)

F4Entry added by S.I. 1986/1489, art. 2

F5Entries added by S.I. 1988/84, art. 2, Sch.

F6Entries added by S.I. 1988/1723, art. 2

F7Entry added by S.I. 1989/956, art. 2

F8Entries added by S.I. 1989/2328, art. 2

F9Entries added by S.I. 1990/1387, art. 2

Modifications etc. (not altering text)

C1Ss. 445–450: power to amend or repeal conferred by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 171(1)(a)(2)

C2S. 447 amended by S.I. 1986/148, art. 10(6)

C3By S.I. 1987/1202, art. 2, Sch. the bodies “Yorkshire Bank Home Loans Limited” and “Abbey Life Home Loans Limited.” are specified for the purposes of section 447(2)

C4By S.I. 1987/1809, art. 2, Sch. the bodies “Abbey Life Executive Mortgages Limited.” and “Abbey Life Funding Limited.” are specified for the purposes of section 447(2)