Following legal advice the Corporation has revised its sample Legal Charge to enable RSLs to secure its interest in a property purchased through the Open Market Homebuy scheme.

The sample Legal Charge has been amended at clauses 3 and 7.2. The revised version is re-produced below and should be used immediately for new Open Market Homebuy applications and existing applications where ‘completion’ has not been reached.

There is no expectation that the new sample Legal Charge will be used retrospectively. 

The amended version will be incorporated into the Capital Funding Guide at the next rewrite.