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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
Footnotes

166 page PDF

1.4MB

Footnotes

1 An apartment is classified as any habitable room, but does not include kitchens, bathrooms, box rooms, utility rooms or hallways. Glass conservatories do not qualify as an apartment

2 Sellers do not need to provide a Home Report if their property is classified as either 'new housing' or 'newly converted premises'. New housing includes homes that may be sold 'off-plan' to the first purchaser or sold to the first occupier. And newly converted premises means a property which is being, or has been, converted to a home if it has not previously been used in its converted state.

3 These are illustrative figures and may vary from time to time.

4 The total number of 'live' passport letters should exclude property purchases that have taken place.

5 The total number of 'live' passport letters should exclude property purchases that have taken place.

6 The term 'local area' refers to the areas where individual maximum price ceilings have been set.

7 The figure entered here should be the total price of properties purchased plus the Administering Agent's total administrative costs.

8 The term 'local area' refers to the areas where individual purchase maximum price ceilings have been set.


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