OpenLegislation

Section 447 Recognised lending institutions.C3C4

England and Wales

(1)

The lending institutions recognised for the purposes of section 445 (assistance for first-time buyers) are—

  • F1an authorised deposit taker

  • an authorised insurer

  • F2. . .

    • local authorities,

    • F3development corporations,

    • the Development Board for Rural Wales,

    • . . .

    • . . .

    • . . .

    • . . .

    • F4Swansea Building Society

    • F5Abbey Life Home Service Limited.

    • Abbey Life Mortgage Securities Limited.

    • Abbey Life Residential Loans Limited.

    • General Portfolio Finance Limited.

    • Royal London Homebuy Limited.

    • F6Abbey Life Mortgage Finance Limited,

    • Abbey Life Mortgage Loans Limited,

    • CIS Mortgage Maker Limited

    • F7Mortgage Express Ltd.

    • F8Halifax Loans Limited

    • BNP Mortgages Limited.

    • F9Sun Life of Canada Home Loans Limited

    • Halifax Loans (No.2) Limited

    • Halifax Loans (No.3) Limited

    • Halifax Loans (No.4) Limited.

C1C2(2)

The Secretary of State may by order made with the consent of the Treasury—

(a)

add to the list in subsection (1), or

(b)

direct that a named body shall no longer be a recognised lending institution;

but before making an order under paragraph (b) he shall give an opportunity for representations to be made on behalf of the body concerned.

(3)

An order shall be made by statutory instrument.

Annotations

Textual amendments

F1

Words in s. 447(1) inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 299(5)(b)

F2

Words in s. 447(1) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 299(5)(a)

F3

Words in s. 447 substituted (1.12.2008) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008 (S.I. 2008/3002), arts. 4, 6, Sch. 1 para. 20 (with Sch. 2); S.I. 2008/3068, arts. 1(2), 2(1)(b) (with arts. 6-13)

F4

Entry added by S.I. 1986/1489, art. 2

F5

Entries added by S.I. 1988/84, art. 2, Sch.

F6

Entries added by S.I. 1988/1723, art. 2

F7

Entry added by S.I. 1989/956, art. 2

F8

Entries added by S.I. 1989/2328, art. 2

F9

Entries added by S.I. 1990/1387, art. 2

Modifications

C1

By S.I. 1987/1202, art. 2, Sch. the bodies “Yorkshire Bank Home Loans Limited” and “Abbey Life Home Loans Limited.” are specified for the purposes of section 447(2)

C2

By S.I. 1987/1809, art. 2, Sch. the bodies “Abbey Life Executive Mortgages Limited.” and “Abbey Life Funding Limited.” are specified for the purposes of section 447(2)

C3

Ss. 445–450: power to amend or repeal conferred by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 171(1)(a)(2)

C4

S. 447 amended by S.I. 1986/148, art. 10(6)