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Publication - Guidance

Open Market Shared Equity (OMSE) administrative procedures: 2017

Published: 25 Oct 2017
Part of:
Housing
ISBN:
9781788513555

Updated guidance for administering agents on the Open Market Shared Equity (OMSE) scheme's administrative procedures.

166 page PDF

1.4MB

166 page PDF

1.4MB

Contents
Open Market Shared Equity (OMSE) administrative procedures: 2017
Annexe L: Property re-sale form

166 page PDF

1.4MB

Annexe L: Property re-sale form

Notes on completion

Please read these notes before completing the form. if in doubt, please consult your local Scottish Government area housing supply and innovation team.

You should submit a completed form each time you buy back a property and re-sell it to an owner who takes a higher equity stake in the property than the previous owner.

Forms should be submitted to the local Scottish Government Area Housing Supply and Innovation Team within one week of the date of settlement in the case of a buy back and re-sale. This allows the Scottish Ministers to raise a request for the receipt of sums due to them.

You should not enclose any remittances with the form, as the information contained therein will be used by the Scottish Ministers to raise a request for the sum that is repayable.

Administering Agents should be aware that the new Housing and Regeneration Payments ( HARP) system will have a specific function for buy-back and re-sales and therefore the forms below will no longer be needed. Further information on HARP will be announced in due course.

Open Market Shared Equity Scheme - property re-sale form

Please complete this form each time you buy back a property and re-sell it to an owner who takes a higher equity stake in the property than the previous owner.

Part A General information

1. Administering Agent or subsidiary ("Administering Agent"):

3. Name and address of solicitors:

Harper Macleod LLP
The Ca'd'oro
45 Gordon St
Glasgow
G1 3PE

2. Address of property:

4. Date of settlement:

Part B Financial reconciliation

Current open market value of the property

(please enclose a copy of the independent professional valuer's report)

£

(A)

Actual % equity stake taken by the previous owner

(please enclose appropriate supporting documentation showing the actual % equity stake taken by the previous owner)

%

(B)

Previous owner's actual equity stake

(current open market value (A) x % (B))

£

(C)

Actual % equity stake taken by the new owner

(please enclose appropriate supporting documentation showing the actual % equity stake taken by the new owner)

%

(D)

New owner's actual equity stake

(current open market value (A) x % (D))

£

(E)

Capital receipt to the Scottish Ministers

((E) - (C))

£

Part C Declaration

I declare that the above information, together with any supporting information, is true and complete.

Signature
(Officer of Administering Agent authorised by Management Committee or other governing body)

Date

For the Scottish Government's use:

Checked by:
Date

Approved by:
Date


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