New Supply Shared Equity administrative procedures

Section Ten: Post-Sale Duties for Local Authorities and Registered Social Landlords

10.1 As noted, the Scottish Government has prepared Guidance in relation to information on After Sale Shared Equity Procedures for use by Local Authorities and Registered Social Landlords. A copy can be found on the Scottish Government website at http://www.gov.scot/Topics/Built-Environment/Housing/BuyingSelling/lift/ASSEPdocument

10.2 Every five years after settlement of a shared equity transaction and for as long as Scottish Government retains an equity stake in a property, Local Authorities and Registered Social Landlords should send a letter (the content of which is set out in the ASSEP Procedures) to a shared equity owner which will ask them whether they wish to consider purchasing additional equity.

10.3 The ASSEP guidance is not intended to cover post-sale matters relating to the physical condition of a property or complaints by Home Buyers in relation to such matters, but Local Authorities and Registered Social Landlords are reminded of their responsibilities in relation to such matters, as set out in Section Three of these procedures.