1 FORMS

1.1 The Housing (Right to Acquire) Regulations 1997 require tenants’ applications and RSL notifications to tenants to be in writing although there are no statutory prescribed forms. To ensure consistency in dealing with applications the Corporation has produced a series of application forms and notifications for RSLs use. Supplies of these forms can be downloaded from the Corporation's website. See RTA-1(2.1) and RTA-6.

1.2 All RSL applications for confirmation of grant and grant payment must be submitted via the internet using the Corporation’s Investment Management System (IMS).

1.3 RSLs should draft their own standard letters in seeking the tenant's confirmation to proceed with the RTA and when notifying the RSL's lender of a sale.

2 CLAIM TO EXERCISE RTA - ACTION BY THE TENANT

2.1 The tenant claims to exercise the RTA by a written notice served on the landlord (form RTA 1). For the purposes of establishing either the two or five year qualifying period of tenancy (RTA-2 para 1.1 or 1.2) the date the notice is served will be taken to be the date entered on the notice by the tenant.  Where the tenant has already made an application in writing, the RSL should ask the tenant to complete the form, but should accept the date of the letter for the purposes of valuation and establishing the qualifying period.

2.2 The notice may be withdrawn at any time by the tenant by serving a written notice on the landlord.

2.3 A tenant who has already claimed the Right to Buy or Preserved Right to Buy will not be able to claim the RTA until such time as the Right to Buy/Preserved Right to Buy application is withdrawn or the landlord responds denying the right. The tenant may withdraw an existing Right to Buy claim and submit a claim for the RTA at any time.

Claim to share RTA with members of the family

2.4 A tenant claiming the RTA may include up to 3 members of the family (who are not joint tenants but who occupy the dwelling as their only or main residence) in the purchase provided that:

• the family member is the spouse of or has been residing with the tenant for 12 months prior to the application; or
• the landlord consents. The landlord's consent is an absolute discretion to allow family members to be included in the purchase where they have not been residing with the tenant for the requisite period.

  3 ACTION BY THE RSL 

 3.1 On receipt of the tenant's application the landlord should check:

• the tenant(s) is/are secure or assured;
• whether it is a joint tenancy;
• the application has been correctly completed and signed by the tenant and others joining in the application;
• the tenant has been a public sector tenant for the appropriate qualifying period;
  whether the tenant is an undischarged bankrupt or has made a compromise or an arrangement with his creditors.
• whether there is an effective possession order;
• whether there is an effective suspension order (on the grounds of anti- social behaviour), see RTA-4 para 10; 
• the property is not excluded from the scheme;
• the tenant has not already claimed the Right to Buy/Preserved Right to Buy.

3.2 The landlord must respond in writing to the tenant's claim to exercise the RTA, either admitting or denying the right. If the landlord does not consider the tenant has the RTA it must state the reasons in the notice (form RTA 2).

3.3 The landlord should respond to the tenant's application within 4 weeks if it has been the tenant's landlord for the previous two years, or 8 weeks in any other case e.g. if the landlord is still seeking clarification over the tenant's records from a previous landlord.

Offering alternative properties for sale

3.4 At this stage of responding to the tenant, the landlord may offer the tenant an alternative property to purchase under the scheme.  Where this is the case, the landlord must make clear that there is no obligation placed on the tenant to accept the alternative property.  This option is only applicable in cases where the RTA is admitted.

3.5 The level of discount applicable to the alternative property is established by reference to the local authority area in which it is located, except where the discount would be greater than the amount the tenant would receive by purchasing their current home, in which case the maximum discount would be the amount applicable to the property where the tenant lives.

3.6 Only naturally occurring voids can be offered as alternative properties; the RSL must not keep homes vacant to use in this way or offer properties in new developments for rent or sale that have been grant funded.

4 ACTION BY THE RSL - OFFER NOTICE

4.1 After confirming eligibility to the tenant, the landlord will be in a position to prepare the offer notice, detailing the terms of sale and establishing the purchase price. A standard form of offer notice has been drafted for use in the scheme based on the provisions of s. 125 (as amended) of the Housing Act 1985.  The landlord is required to serve an offer notice on the tenant within 8 weeks (where the tenant has claimed the right to acquire the freehold) or 12 weeks where the tenant wishes to acquire a lease.

4.2 The offer notice must contain the following information:

• a description of the property, sufficient to enable the tenant to identify the property and land to be sold;
• the sale price and how it was calculated;
• the value as at the date of the tenant's application;
• any improvements to the property carried out by the tenant which have been disregarded in the valuation;
•  the tenant's discount entitlement. Where the discount has been reduced to take account of previous discount paid the landlord should provide details;
• the provisions which, in the opinion of the landlord, should be contained in the conveyance or grant;
• provide accurate service charge estimates and improvement costs (where they are payable);
• provide details of any known structural defects;
• advise the tenant of the effect of sections of the RTA Regulations 1997

a) 125D and 125E (1) and (4);
b) Section 128 (valuation/revaluation)
c) Section 136(2) (change of tenant after service of the offer notice)
d) Sections 140 and 141 (1), (2) (3) and (4) (landlords' notices to complete and effect of failure to comply), as amended by s184 of The Housing Act 2004.

5 PURCHASE PRICE

5.1 To establish the purchase price of a property under the RTA, the landlord has first to determine the open market value of the property (RSLs may use the services of a qualified independent valuer for this purpose) as at the date of the tenant's claim, and then deduct the appropriate discount (see RTA-1, para 5.5), discounts and the areas they apply to, will be subject to review and revised orders will be made from time to time.

5.2 The value of the dwelling must be based on its open market value at the time of the tenant's claim and based on the following assumptions:

• disregarding the tenant's improvements and the failure of the tenant to keep the dwelling in good internal repair;
• any service charges or improvement contributions payable will not be less than the estimates contained in the landlord's offer notice;
•  for freehold property, the landlord is selling for an estate in fee simple with vacant possession;
• for leasehold property, the landlord is selling with vacant possession for the appropriate term, i.e. not less than 125 years or, where the landlord's lease has less than 125 years and 5 days left to run, a term expiring 5 days before the term of the landlord's lease is to expire.

 
 5.3 Where the RTA discount represents more than 50% of the value of the property the maximum amount of discount available shall be 50% of the value of the property.  For example, if the discount entitlement is £9,000 and the property subject to the RTA is valued at £15,000, the maximum discount is £7,500 (i.e. 50% of the value of the property).
 
 5.4 Fees associated with establishing a property’s valuation should not be charged to the applicant, but deducted from the gross proceeds of sale when calculating the amount to transfer to the Disposal Proceeds Fund, see DPF-1 para 2.2. 

 
 6 SERVICE CHARGES

 
 6.1 Where the RSL is selling flats and maisonettes on a leasehold basis it will continue to be responsible for the repair and maintenance of the building and the provision of services such as lighting in communal areas. The RSL will need to apportion these costs to the individual unit and recover the costs from the leaseholders by way of the service charges.
 
 6.2 The RTA requires the RSL to comply with the service charge provisions of paragraphs 16A, 16B, 16C and 16D of Schedule 6 to the Housing Act 1985 as amended and the orders made known to the public thereunder by the Secretary of State.
 
 6.3 In summary, legislation requires landlords to provide accurate estimates of service charges for tenants wishing to purchase. In respect of anticipated repairs and improvements RSLs selling flats under the Right to Acquire will need to provide binding estimates for the first five years of the lease. The RSL must also inform applicants of any known structural defects affecting the building and ensure that if they are to be repaired in the first five years they are included in the service charge estimates for repairs.  The annual service charge for repairs and improvements can only be increased to take account of inflation (within the first five years of the lease). The formula for calculating the inflation cost is to be the same as it is for the Right to Buy. The formula is set out in the Right to Buy Statutory Instrument (The Housing Right to Buy) (Service Charges) Order 1986.
 
 6.4 Estimates of other service charges, apart from repairs and improvements, such as amounts to be charged for caretaking or communal lighting, must also be provided but are not binding.
 
 6.5 The RSL may wish to seek their own legal and professional advice on deciding the various elements making up the service charge.
 
 6.6 The RTA does not provide for any application to a right to a loan for payment of service charges.

 
 7 APPEAL AGAINST VALUATION

7.1 The tenant may appeal against the landlord's valuation within 3 months of receipt of the offer notice. The landlord refers any valid appeal to the District Valuer for a determination.

  
 8 RESPONSE TO OFFER NOTICE - ACTION BY THE TENANT

 
 8.1 After the landlord has served the offer notice, the tenant must respond in writing, confirming that he/she will pursue the claim or that he/she wishes to withdraw the claim. The tenant should respond to the offer notice within 12 weeks or if the tenant has applied for a revaluation of the property, within 12 weeks of the notification of the revaluation. A revised offer notice needs to be served on the tenant where the tenant has made a successful appeal to have the property revalued.

  
 9 LANDLORD’S NOTICE IN DEFAULT 

 
 9.1 In the event of the tenant not responding to the offer notice, the landlord may serve on the tenant a written notice giving the tenant a further 28 days to indicate in writing whether he/she wishes to pursue the claim. The notice served on the tenant should explain that failure to respond within the notice period will lead to the landlord treating the application as withdrawn. The landlord has discretion to extend the period.

  
 10 COMPLETION 

 
 Suspension of Right To Acquire due to anti-social behaviour 

 
 10.1 Sections 192 -193 of the Housing Act 2004 introduce provision from June 6th 2005 for RTA applications to be suspended on the grounds of anti-social behaviour.
 
 10.2 Following an application from an RSL the courts may make a, ‘suspension’ order in respect of a tenancy. A suspension order may be granted only if the court is satisfied that the tenant or a person living in the property, or visiting the property, has engaged or threatened to engage in anti-social behaviour (which includes using the premises for unlawful purposes), and that it is reasonable for an order to be made.
 
 10.3 Once issued, a suspension order will have the effect of suspending existing RTA applications and/or preventing new applications being made during the period the order covers. An RSL may also apply to the courts for an existing suspension order to be extended.
 
 10.4 The Act also removes the duty of an RSL to complete a sale (e.g. convey the freehold or grant a lease) whilst an application for a suspension order is pending. Having submitted an application for a suspension order, an RSL is under no obligation to complete a sale until such time as the courts decide not to grant a suspension order, or the RSL withdraws its application.
 
 10.5 The existence of a suspension order does not affect the accumulation of a tenant’s RTA qualifying period.

 
 Completion Notices

10.6 For RTA applications made on or after 18.1.2005 it is expected that the purchase can be completed within a similar time taken by private sellers and buyers to complete sales. Where a tenant fails to progress the purchase within a reasonable time, the landlord may serve on the tenant a ‘notice to complete’, which shall include a request to specify any matters that may be outstanding. Following the issue of an ‘offer notice’ in respect of applications made on or after 18.1.2005 (see para 4.1 above) a landlord may serve a first ‘notice to complete’ at any time 3 months after the date the ‘offer notice’ was served. The first notice should give the tenant a reasonable period in which to complete being at least 56 days and should inform the tenant of the effect of Sections 140 and 141 (see para 4.2 above). If the tenant fails to comply with the first notice, the landlord may serve a second notice to complete, giving the tenant a further reasonable period (being at least 56 days), to complete and, again, informing the tenant of the effect of Sections 140 and 141 and failure to comply with the second notice to complete allows the landlord to deem the application to be withdrawn.
 
 10.7 For applications made before 18.1.2005 the notice to complete may be issued at any time after 12 months from the date the offer notice was served.
 
 10.8 Once the tenant has issued appropriate instructions to its lender and legal representative, the landlord will be in a position to dispose of the property. The landlord should carry out the following checks before completion takes place:

• the tenant is not more than 4 weeks in arrears with rent;
• a possession or suspension order has not been obtained during the period of processing the tenant's application;
• the mortgage offer is from an approved lender (see paragraph 16 below) who is entitled to register the tenant's mortgage as a first charge;
• the landlord has consulted its own lender in accordance with the arrangements stated in The Housing (Right to Acquire) Regulations 1997 unless otherwise agreed in writing with the lender. The Housing (RTA) Regulations 1997 Schedule 2, Section 138(2).

  
 11 CONFIRMATION OF GRANT/CLAIM

 
11.1 After the sale of the property, the RSL will be in a position to make a submission for grant to the Corporation. The claim should be submitted within 6 months of the date of sale. The amount of grant claimed should correspond to the relevant cash discount published in the current Right to Acquire Discount Order. The discount should be that current at the date of the service of the offer notice.
 
 11.2 The scheme submission must comply with the Funding Conditions accepted by the Committee of the RSL and confirmed on line by the RSL’s System Administrator at the beginning of the financial year.  See GENERAL-1
 
11.3 The RSL's submission must be input via the Corporation’s IMS system.  See RTA-4, para 1.2 and the Help section of the above link. 
 
11.4 The RSL must be able to confirm acceptance of the three certifications that appear on screen when the scheme has been submitted.
 
11.5 To ensure RSL conforms to the Corporation’s Funding Conditions, the RSL must also be able to confirm acceptance of the following certifications which will appear on the submission screen:
 
 “This property is subject to Right to Acquire under Section 16 of the Housing Act 1996 and has been sold in accordance with the current Right to Acquire regulations as amended.”
 
 “The sale of the property has been completed.”
 
11.6 Where the Corporation is satisfied with the scheme submission, payment to the RSL will be made within 8 working days of receipt of a valid submission. 

 
 12 REPAYMENT OF DISCOUNT

 12.1 The discount provided for the purchase is subject to repayment in certain circumstances when the property is sold.
 
 12.2 For RTA purchases prior to 18.1.2005 repayment is required within the first 3 years from the date of purchase. Discount repayment is on the following terms:

• sale within year 1 all of the discount is repaid;
• sale within year 2 two thirds (66%)of the discount is repaid;
• sale within year 3 one third (33%) of the discount is repaid;
• no discount is repaid after year 3.

12.3 For RTA applications made on or after 18.1.2005 the discount is repayable if the property is sold within five years from the date of purchase. The amount due for repayment is to be calculated as a percentage of the resale value equivalent to the percentage of the discount when compared to the purchase price as follows;

a) sale with year 1, an amount equal to the % value as above
b) sale within year 2, 80% of the amount calculated as in a) above
c) sale within year 3, 60% of the amount calculated as in a) above
d) sale within year 4, 40% of the amount calculated as in a) above
e) sale within year 5, 20% of the amount calculated as in a) above
f) no repayment is required after year 5.

 Example: if the property value at purchase was £160,000 and the discount received was £16,000, the discount would be the equivalent of 10%. If the property value subsequently rose and was sold for £180,000 during year 1 the repayment would be £180,000 x 10% = £18,000. If the same property sold within year 3 for £220,000 the repayment due would be £220,00 x 10% = £22,000 x 60% = £13,200.

 Where property values fall the same calculation method is to be followed. Continuing the above example, if the property value dropped to £150,000 within year 1 the repayment would be £150,000 x 10% = £15,000.

 Waiver of discount

12.4 S185 of the Housing Act 2004 gives former landlords discretion to waive repayment of some or all of the  discount. This discretion applies to all disposals which take place on or after 18th January 2005, regardless of when the property was bought. 

12.5 Use of this discretion should be only in exceptional circumstances. It is for each landlord to decide whether the circumstances would justify the exercise of discretion (examples are provided at 12.7 below).  RSLs will be expected to establish and maintain procedures for decisions, making the process open, fair and transparent, and bearing in mind the possibility of a judicial review or Independent Housing Ombudsman scrutiny. RSLs will decide what procedures to use and whether their decisions should be subject to an internal review process, and if so by what means. Options might include deciding on the basis of written representations or holding formal hearings (in which case allowing the applicant to bring a representative or adviser). Evidence supporting any decisions should be clear and objective, e.g. from a local police force, doctor, psychiatrist or employer.

12.6 Landlords should clear discount waiver decisions with their auditors, bearing in mind the net cost to the public purse (the Corporation’s Regulatory Code obliges housing associations to protect public investment).

12.7  Use of discretion is most likely to be justified in circumstances where demonstrable personal hardship would otherwise result. In each case it will normally be necessary to establish both the facts justifying a move, and that such a move could not take place unless part or all of the discount were to be waived. Examples of such circumstances include the following.

(a)  where an owner of the property wishes to move because otherwise he or she and/or other family members (especially children) face a demonstrable threat of violence or of significant harm; for example, due to:

• relationship breakdowns involving actual or threatened domestic violence;
• racial, faith, homophobic or any other kind of harassment; 
• extreme anti-social behaviour, such as persistent drug dealing in an adjoining or nearby property;

(b) where the sudden onset of a severe medical condition or serious deterioration of an existing condition makes a move essential on medical grounds;

(c) where an early move is essential to return to employment; for instance where an individual has a firm offer of a job in another area and would thereby be able to return to work, either:

• after long term unemployment; or
• after having been made redundant, when his/her skills are such that there is no prospect of getting another job locally;

(d) where a traumatic personal event (for example, sudden bereavement) makes a move essential for emotional or psychological reasons. 

 Disregard of improvements value

12.8 Where an RTA application was made on or after 18.1.2005, s186 of the Housing Act 2004 introduces provision whereby any increase in a property’s value attributable to improvements made by the owner after acquiring it, will be disregarded if the property is sold within the five-year period. The resale value is treated as net of the value of those improvements. Where the value of any improvements is disputed, consideration may be given to referring the question to the District Valuer for a determination - where is it reasonably practicable to do so. Any costs associated with reference to the District Valuer are to be borne by the person disposing the property. Where agreement cannot be reached regarding the value of any improvements, and the District Valuer does not make a determination no disregard for the value of improvements is allowed.

Deferred resale agreements

12.9 To avoid situations whereby tenants enter into transfer agreements with third parties to buy properties, immediately sell the property to that third party, but transfer ownership at a later date to avoid repaying any discount, s187 of the Housing Act 2004 now treats these transfer agreements as a relevant disposal. This has the effect of triggering the discount repayment from the date of the transfer agreement and not the date of the property transfer and affects all applications in progress on or after 18.1.2005.  

12.10 Exempted disposals are to be the same as set out in S.160 of the Housing (Right to Acquire) Regulations 1997 as amended. A summary of exemptions from the repayment provisions is listed below:

• disposal to any member of the family who joined in the original application or who has resided in the property 12 months immediately before the date of disposal;
• disposal to a spouse;
• disposal to a person under the terms of a will or on a intestacy;
• disposal arising from compulsory purchase by a public body;
• disposal of the whole of the property in pursuance of an order under Section 24 of the Matrimonial Causes Act 1973.

Repayment Covenant

12.11 The RSL must ensure that a conveyance of freehold or grant of a lease includes an appropriate repayment covenant. A model repayment of discount clause is given in paragraph 12.12 below, however the RSL should satisfy itself following its own legal advice that the repayment covenant is adequate for its purposes. The requirement to repay discount will rank immediately after the approved lending institution that has provided the tenant's mortgage (see paragraph 16 for list of approved lenders). Where further lending is needed to fund works to the property the RSL may postpone its charge in favour of the lender. The charge should not be postponed for any other reason.

12.12 (1) The Purchaser/Transferee/Lessee hereby covenants for himself and his successors in title that if within a period of 5 years from the date hereof there shall be a relevant disposal, which is not an exempted disposal, (the terms relevant and exempted disposal being defined, respectively, in  sections 159 and 160 of the Housing Act 1985), the Purchaser/Transferee/Lessee will pay to the Registered Social Landlord on demand such as the Registered Social Landlord demands, not being greater than tan amount (hereinafter “the maximum amount”) to be calculated on the basis of (2) below but reduced by 20% for each complete year which shall elapse between the date hereof and the date of such disposal PROVIDED THAT if there is more than one such disposal the Registered Social Landlord shall be entitled to demand payment only on the first of them.

 (2)  The maximum amount is a sum equal to x% of the value of the Property on the relevant disposal, where the value is the price or premium paid for the Property on the said disposal less such amount (as may be agreed or determined in accordance with section 155C of the Housing Act 1985) of that price or premium paid as is attributable to improvements made to the Property by the person by whom the disposal is or is to be made between the date hereof and the said disposal.

 NOTE 1: RSLs' Solicitors will need to define the Purchaser/Transferee/Lessee, Registered Social Landlord and Property.

 NOTE 2: The repayment of discount covenant will take effect as a charge on the property by virtue of sections 156 of the Housing Act 1985 and is protected by entry of a notice or caution on the register of the purchaser's title.

 NOTE 3: Section 155 of the Housing Act is modified as it applies to Right to Acquired by means of Schedule 2 (Regulation 2(2)) of The Housing (Right to Acquire) Regulations 1997.

 NOTE 4: RSL’s solicitors must calculate the % figure to be used in clause (2) above. This figure must equate to the percentage value of the available discount compared to the property’s sale price.
 
 Example –  Property sale price = £150,000
   Available discount = £ 10,000
   Percentage value = 15%, (£150,000 divided by £10,000). 

13 CONVEYANCE OF FREEHOLD AND GRANT OF A LEASE

13.1 The RSL must refer to The Housing (Right to Acquire) Regulations 1997 which contain the statutory requirements for conveying the freehold or granting the lease. The Corporation does not produce a model lease for the RTA scheme but a plain English model lease can be purchased from the National Housing Federation, see RTA-1, para 1.7.

Right of First Refusal

13.2 Where an RTA application is made on or after 18.1.2005, s188 of the Housing Act 2004 introduces provision for a covenant to be inserted into all conveyances requiring that, during the period of 10 years from the date of conveyance the tenant (purchaser) or any successor in title, must make an offer of first refusal to the former landlord.  The Housing (Right To Acquire) Regulations 1997 are to be amended appropriately in due course when further guidance will be published.

13.3 The covenant must be a local land charge and must be entered into the property’s register of title by the Chief Land Registrar. This should avoid the covenant being overlooked at the point of resale.

14 LEGAL CHARGES

14.1 The RSL is required to dispose of the property to the tenant free of any legal charge on the property e.g. a secured mortgage. There is however a requirement placed on the RSL and its mortgagee to reach an agreement over whether the RSL redeems the mortgage or provides alternative security for the loan. Full details of the requirement are set out in The Housing (Right to Acquire) Regulations 1997; the notification process is summarised below. 

15 NOTICE TO LENDERS

 15.1 When the tenant responds to the offer notice notifying the landlord of his/her intention to proceed with the purchase, the RSL must, within 7 days of receipt of the tenant's notification, give written notice to the lender. The notice should contain information about the purchase price and value and set out whether the loan applicable to the property is to be redeemed. If it is not to be redeemed the notice should give the lender the option of either taking alternative security or being paid the market value of the property. Any property offered as alternative security must have sufficient equity to cover the market value of the property being sold. Where the RSL's notice states that the RSL does not intend to redeem the charge and gives the lender the options referred to above, the lender has 14 days to respond setting out which option is acceptable.

15.2 RSLs and their lenders may agree alternative arrangements for dealing with notification of sales, providing the arrangement is in writing and has regard to the 21 day period mentioned below.

15.3 Where the lender accepts the option of alternative security in the form of a property, the lender must be given 21 days to secure a charge. Where the 21 day period is insufficient, the lender either accepts that it will secure the charge after the sale has been allowed to complete or if the landlord RSL has failed to take reasonable steps to enable a charge to be secured, the lender can insist on payment of the equivalent to the RTA property's market value within 7 days. In circumstances where the lender rejects an alternative property as security, it may require the RSL to pay an amount equal to the market value of the RTA property within 21 days of the lenders notice rejecting the alternative property, or at the date of the RTA purchase whichever is the later. Any disputes over the lenders security should not be allowed to delay the sale beyond the notice periods stated above.  The RSL’s obligations under the terms of the loan agreement with the lender will continue to apply after the sale.

16 LIST OF APPROVED LENDERS

16.1 The institutions listed below are Approved Lending Institutions specified either in Section 156 of the Housing Act 1985 or in Orders made under that Section (or previously under Section 8(5) of the Housing Act 1980).  Whilst the Corporation reviews the list when publishing this chapter, the most up-to-date list can be viewed on the Department for Communities and Local Government website which can be located at http://www.communities.gov.uk/index.asp?id=1500031.

 SPECIFIED IN SECTION 156

The Housing Corporation
Institutions authorised under the Banking Act 1987
Building Societies Friendly Societies
Insurance Companies
Trustee Savings Banks

SPECIFIED IN ORDERS  YEAR SI

 

  
Abbey Life Executive Mortgages Limited  1987 1810
Abbey Life Funding Limited  1987 1810
Abbey Life Home Loans Limited  1987 1203
Abbey Life Home Service Limited  1988 85
Abbey Life Mortgage Finance Limited  1988 1726
Abbey Life Mortgage Loans Limited  1988 1726
Abbey Life Mortgage Securities Limited  1988 85
Abbey Life Residential Loans Limited 1988 85
Albion Home Loans Limited  1991 619
Alliance & Leicester Mortgage Loans Limited  1993 2757
Alliance & Leicester Mortgage Loans (No.2) Limited  1994 1762
Alliance & Leicester Mortgage Loans (No.3) Limited  1994 1762
Alliance & Leicester Mortgage Loans (No.4) Limited 1994 1762
Amber Homeloans Limited (formerly Stroud & Swindon Mortgage Company (No.2) Limited  
  
Bank of England, The  1984 1554
Barshelfco (No. 16) Limited  1991 2052
Barshelfco (No.39) Limited  1992 2317
Barshelfco (No.40) Limited  1992 2317
Barshelfco (No.41) Limited  1992 2317
Barshelfco (No.68) Limited  1995 2066
Battersea Park Mortgage Funding Limited 2001 205
Blemain Finance Limited  2003 1083
BNP Mortgages Limited  1989 2329
Bradford and Bingley Homeloans Limited 1992 2317
Bradford and Bingley Homeloans Management Limited 1992 2317
Bradford and Bingley Loans Limited 1991 162
Bradford and Bingley Management Limited 1996 162
Bradford and Bingley Mortgages Limited ** 1992 2317
Bradford and Bingley Mortgage Management Limited 1992 2317
Bradford & Bingley Secured Loans Limited 1996 162
Bradford & Bingley Secured Loans Management Limited 1996 162
Britannia Mortgage Company Number One Limited 1994 1762
Britannia Mortgage Company Number Two Limited 1994 1762
  
Capital Home Loans Limited 1990 2390
Capital Bank Mortgages Limited 1998 2015
Chelsea Mortgage Services Limited 1996 162
Cheshire Mortgage Corporation 2005 92
Cheval Property Finance plc 2006 1263
Church House Trust plc 2006 1263
CIBC Mortgages plc 1989 2102
CIS Home Loans Limited  1993 2757
CIS Mortgage Finance Limited 1993 2757
CIS Mortgage Maker Limited 1988 1726
CIS Residential Mortgages Limited 1993 2757
City Mortgage Corporation Limited 1996 162
CL Mortgages Limited {1987 1203
 {1995 2066
Collateralised Mortgage Securities (No. 16) PLC 1994 1762
Confederation Mortgage Services Limited  1987 1203
Consumer Loans Company Limited, The  1991 2052
Credit Agricole Personal Finance plc  1989 2102
Credit Agricole Mortgage Company No.1 Limited 1989 2102
Credit Agricole Mortgage Company No.2 Limited 1989 2102
Credit Agricole Mortgage Company No.3 Limited 1989 2102
  
Darlington Mortgage Services Limited 1995 211
Derbyshire Home Loans Limited  1993 303
Derbyshire Mortgages Limited  1993 303
Distinct Mortgages Limited 1998 2015
  
Equity and Law Home Loans Limited  1989 2102
E-Mex Home Funding Limited 2001 3874
  
Finance for Mortgages Limited  1991 2052
Finsbury Park Mortgage Funding Limited 1999 952
First National Mortgage Company  957
First National Home Finance Limited now GE Money Home Finance Limited 2004 1071
Furness Mortgage Services Limited  1995 211
Future Mortgages 1 Limited 1998 2015
  
GE Money Home Lending Limited (was iGroup 5 Limited ) 2001 3219

GE Money Home Finance Ltd - Formerly Fisrt National Home Finance 2004 1071
General Portfolio Finance Limited  1988 85
GMAC-RFC Ltd (formerly RFC Mortgage Services Ltd) 1998 2015
Gracechurch Mortgage Finance plc 1991 2052
Gracechurch Mortgage Finance (no.5) Limited  1995 211
Green Park Mortgage Funding Limited 1997 2327
  
Halifax Loans Limited  1989 2329
Halifax Loans (No.2) Limited 1990 1388
Halifax Loans (No.3) Limited 1990 1388
Halifax Loans (No.4) Limited  1990 1388
Hanley Mortgage Services Limited 1997 945
Hinkley and Rugby Mortgage Services Limited 1997 945
HMC First Home National PLC  1989 958
HMC Group PLC  1989 958
Homeloans Direct Limited  1995 211
Household Mortgage Bridging Limited  1989 958
Household Mortgage Corporation PLC  1989 958
HSMS 1997 2327
Hyde Park Mortgage Funding Limited 1997 2327
  
Ipswich Mortgage Services Limited 1995 211
IGroup mortgages limited 2001 3219
igroup uk loans limited 2001 3219
Igroup2limited 2001 3219
Igroup3limited 2001 3219
Igroup4limited 2001 3219
Igroup5limited (now GE Money Lending Ltd) 2001 3219

Kensington Mortgage Company - Formerly Regent's Park Mortgage Funding Limited 1997 2327
  
LBS Insurance Services Limited 1995 211
LBS Mortgage Services Limited 1995 211
Leamington Mortgage Corporation Limited 1995 211
Leeds and Holbeck Mortgage Corporation Limited 1991 619
Leeds and Holbeck Mortgage Funding Limited 1995 211
Leek United Home Loans Limited {1996
{1997 2479
945
Legal and General Mortgages Limited  1995 2066
Legal and General Mortgage Services Limited  1991 619
Lombard Home Loans Limited  1985 1979
London and Manchester (Mortgages) (No.1) Limited* 1988 1726
London and Manchester (Mortgages) (No.2) Limited  1988 1726
London and Manchester (Mortgages) (No.3) Limited  1989 958
London and Manchester (Mortgages) (No.4) Limited 1989 958
London and Manchester (Mortgages) (No.5) Limited 1992 2317
London and Manchester (Mortgages) (No.6) Limited  1992 2317
London Scottish Finance Limited  2005 92
  
Market Harborough Mortgages Limited  1995 2066
Money Partners Limited 2005 407
Money Partners Finance Limited 2005 407
Mortgage Business Public Limited Company, The 1991 2052
Mortgage Corporation Limited, The 1989 2102
Mortgage Express Limited ** 1989 958
Mortgage Funding Corporation PLC 1990 2390
Mortgage Marque Limited 1997 945
Mortgage Services Funding plc  1991 2052
Mortgage Services Limited  1991 2052
Mortgages 1 Limited 1999 2919
Mortgages 2 Limited 1999 2919
Mortgages 4 Limited 1999 2919
Mortgages plc  1989 2102
Mortgages PLC 1998 320
  
N & P Mortgages Limited  1995 211
N & P Mortgages Limited Series A Limited  1995 211
N & P Mortgages Limited Series B Limited  1995 211
N & P Mortgages Limited Series C Limited  1995 211
National Home Loans Corporation plc  1985 1979
National Mutual Home Loans plc  1987 1203
National Westminster Home Loans Limited  1984 1554
Newbury Mortgage Services Limited  1995 2066
Northern Rock Mortgage Services Limited  1992 2317
North Yorkshire Mortgages Limited 1992 2317
Norwich & Peterborough (AMC) Limited  1993 303
Norwich Union Mortgage Finance Limited  1991 2052
  
Ocwen Limited 1998 2015
  
Paribas Lombard Mortgages Limited  1990 2390
Pickering Finance Limited  1996 162
Platform Funding Ltd - formerly The Money Store (No1) Ltd 1999 320
Platform Funding Ltd - formerly The Money Store (No2) Ltd  320
Platform Funding Ltd - formerly The Money Store (No3) Ltd  320
Portman Financial and Mortgage Services Limited  1993 303
Portman Land Services Limited  1993 303
Portman Loans Limited  1993 303
Portman Mortgage Services Limited  1993 303
Post Office 1984 1554
Preferred Mortgages Limited 1997 945
Providence Capitol Home Loans Limited  1989 2102
Providence Capitol Mortgage Services (No. 1) Limited 1990 1388
Providence Capitol Mortgage Services (No.2) Limited 1989 2102
  
Regent’s Park Mortgage Funding Limited now Kensington Mortgage Company 1997 2327
RFC Mortgage Services Limited (now GMAC-RFC Ltd) 1998 2015
Richmond Park Mortgage Funding Limited 2001 205
Royal London Homebuy Limited  1988 85
  
S.A. Mortgages No. 1 Limited  1995 211
Saffron Walden Mortgage Services Limited 1994 1762
Scotlife Home Loans (No.2) Limited 1991 2052
Scotlife Home Loans (No.3) Limited  1989 2102
Secondary Marketing Investment Conduit (No.3) Limited 1997 945
Secured Residential Funding plc  1989 2102
Silhouette Mortgages Limited 1997 2327
Skipton Mortgage Corporation Limited 1997 945
Skipton Mortgages Limited 1997 945
Skipton Premier Mortgages Limited 1997 945
Southern Pacific Mortgage Limited 1997 2327
Stroud and Swindon Mortgage Co (No.2) Limited now Amber Homeloans Limited 1994 1762
St. James Park Mortgage Funding Limited 1997 2327
Sun Life of Canada Home Loans Limited  1990 1388
Swift Advances plc  1996 162
Swift Securities plc  1996 162
The Money Store Limited 1998 320
The Money Store Company (No.1)Ltd now Platform Funding 1998 320
The Money Store Company (No.2)Ltd now Platform Funding 1998 320
The Money Store Company (No.3)Ltd now Platform Funding 1998 320
Transamerica Lending Company 1997 2327
  
UCB Home Loans Corporation Limited  1989 2102
Universal Credit Limited  1991 2052
  
Wesleyan Home Loans Limited  1989 958
West Bromwich Mortgage Company Limited  1995 2066
  
Yorkshire Bank Home Loans Limited  1987 1203

 * Note: London and Manchester (Mortgages) Limited was named in SI.1985 No.1979, but amended to London and Manchester (Mortgages) (No. 1) Limited in the SI. 1988 No.1726.

** Bradford & Bingley Mortgages Limited and Mortgage Express Limited were re-registered at Companies House as unlimited companies on 2 September 1997. The word ‘Limited’ no longer forms part of their name. They retain their status as approved lending institutions.