Section 564K Diminishing shared ownership arrangementsF1

In the case of diminishing shared ownership arrangements, payments by F2the customer under the arrangements are alternative finance return for the purposes of this Part, except so far as subsection (2) or (3) applies to them.

This subsection applies to the payments so far as they amount to payments of the kind described in section 564D(1)(c) F3or 564DA(1)(d) or (2)(c) (payments to be made by the customer to F4the financier, amounting to the consideration paid for the acquisition of F5the financier’s beneficial interest).

This subsection applies to the payments so far as they amount to payments in respect of any arrangement fee or legal or other expenses which the customer is required under the arrangements to pay.

In this section “the customer” has the same meaning as in section 564D F6or 564DA.