# The Home Loss Payments (Prescribed Amounts)(England) Regulations 2004, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations increase the amount of home loss payments payable under the Land Compensation Act 1973 (“the Act”) prescribed in the Home Loss Payments (England) Regulations 2003. A person is entitled to a home loss payment when he is displaced from a dwelling by compulsory purchase or in the other circumstances specified in section 29 of the Act as amended by the Planning and Compensation Act 1991.
Section 30(1) of the Act provides that in cases where a person occupying a dwelling on the date of displacement has an owner’s interest, the amount of home loss payment is calculated as a percentage of the market value of that interest, subject to a maximum and minimum amount.
Section 30(2) prescribes the amount of the home loss payment in any other case.
Regulation 2(1)(a) of these Regulations increases the amount payable under section 30(1) of the Act from £31,000 to £34,000 and regulation 2(1)(b) increases the minimum amount from £3,100 to £3,400. Regulation 2(2) increases the home loss payment under section 30(2) of the Act in any other case from £3,100 to £3,400.
These increases have been calculated by reference to the Office of the Deputy Prime Minister’s house price index and reflect an increase in line with house price inflation.
The revised amounts apply where the displacement occurs on or after 1st September 2004.
A full regulatory impact assessment has not been produced for these Regulations, as they have no impact on the costs of businesses, charities and voluntary bodies.

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Source: https://www.legislation.gov.uk/uksi/2004/1631/note (the official version)
Page: https://openlegislation.uk/home-loss-payments-prescribed-amountsengland-regulations-2004/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.