Open Market Shared Equity (OMSE) administrative procedures: 2016

Section Ten: Post Sale Duties for Administering Agents

10.1 As noted, the Scottish Government has prepared Guidance in relation to information on After Sales Shared Equity Procedures (' ASSEP') for use by Administering Agents. A copy can be found on the Scottish Government website at www.scotland.gov.uk/lift

10.2 Every five years after settlement of a shared equity transaction for as long as Scottish Government retains an equity stake in a property, Administering Agents should send a copy letter (the content of which is set out in the ASSEP Procedures) to a shared equity owner which will advise them to consider purchasing additional equity.