Section 5 - Home ownership and mortgage difficulties - The Moray ...

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More information If you are thinking about buying your home you should contact us for an application form and a more detailed information booklet – these are available from your local access point. Your filled in form should be returned to our Legal and Committee Section. For more information contact us on 0300 123 4566. You should be aware that the right to buy transaction – from the date of application to the date of legal completion of the purchase – takes around six months. Remember, if you sell your home within three years of when you accepted our offer, you will have to pay back all or some of the discount. 5.4.1 Pressured Area Status The purpose of a pressured area status designation is to protect the amount of affordable rented housing and to make sure that there are enough houses for people who need them. The Housing (Scotland) Act 2010 introduced more flexibility and local control over pressured-area designations giving local authorities the power to make, amend and revoke pressured designations. Before an area or property type can be designated as ‘pressured’, we must be able to show that: the need for social housing in the area is likely to exceed supply; and this is likely to be made worse by tenants buying their homes. The effect of Pressured Area Status A pressured area designation suspends the ‘Right to Buy’ for the following tenants: tenants who have taken out a new tenancy in the area on or after 30 September 2002 (the date of the introduction of the Scottish Secure Tenancy); tenants whose tenancy was created before the introduction of the Scottish Secure Tenancy who did not previously have the right to buy entitlement; and tenants who have succeeded a tenancy following 30 September 2002 (unless they were a level one successor). That is a spouse, joint tenant or co-habitee (providing the house has been the co-habitee’s sole or principal home for six months prior to the tenant’s death). In all cases, the house of the deceased tenant must have been the only or principal home of the qualifying person. Tenancies created before the introduction of the Scottish Secure Tenancy and which were converted to the Scottish Secure Tenancy will not be affected by the suspension as long as: Updated: 04 December 2012 Section 5 Page 8
efore 30 September 2002 they had a Right to Buy entitlement as a result of having a secure or assured tenancy with the preserved right to buy; and they have not succeeded to their tenancy after 30 September 2002. Which tenants does it affect? Essentially all tenants who have the modernised Right to Buy will have their entitlement suspended. It does not affect the rights of tenants with the original right to buy (except for tenants who have succeeded to the original right to buy after 30 September 2002). Any tenant who has started a new tenancy in the area will be covered by pressured area status designation. This includes tenants who, after 30 September 2002: transfer from another house owned by us or another registered social landlord; mutually exchange their home; or succeed to their tenancy (if they are a level two or three successor. That is they are a member of the deceased tenant’s family who is aged 16 years or a carer). Length of suspension of the Right to Buy The pressured designation allows for a suspension period of ten years or less. Although ten years is the maximum period, we may decide on a further period of pressured designation, if we feel that it is necessary. We will assess each area individually. Areas granted Pressured Area Status The locations on the next page have been granted pressured area status. Updated: 04 December 2012 Section 5 Page 9
Page 1 and 2: 5. Home ownership and mortgage diff
Page 3 and 4: 5.1.3 House prices and local variat
Page 5 and 6: 5.3 Finding a site and building a p
Page 7: 5.3.6 Self Build Guide for Scotland
Page 11 and 12: 5.5 Mortgage arrears or payment pro

Section 5 - Home ownership and mortgage difficulties - The Moray ...

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