Regulation 25 Costs and expensesI1

Where the Authority incurs reasonable costs or expenses in taking steps to—

Where the Authority incurs such costs or expenses as are referred to in paragraphs (1)(a) to (c) in respect of a transferred loan, the Authority is entitled to recover such costs and expenses as are incurred on behalf of the loan purchaser.

The Authority may add any costs or expenses incurred under this regulation to the borrower’s loan account F1and, if in relation to a plan 1, 2, 3 or 5 loan, they will form part of the principal of the F2loan from the date on which they are added.

In respect of any transferred loan, any sum added to the borrower’s loan account in accordance with paragraph (3) is owed to the loan purchaser.