Housing Act 1985

Notice of amount and terms of further advance.

5 As soon as practicable after the service on it of a notice required by paragraph 1, the landlord or Housing Corporation shall serve on the tenant a written notice stating—

(a) the amount which, in the opinion of the landlord or Housing Corporation, the tenant is entitled to have advanced to him on the assumption that the additional share is as stated in the tenant’s notice under paragraph 1 of Schedule 8 (claim-to exercise right to acquire additional shares),

(b) if greater than that amount, the amount which, in the opinion of the landlord or Housing Corporation, the tenant would be entitled to have advanced to him if the additional share were such that his total share would be 100 per cent,

(c) how that amount, or those amounts, have been arrived at, and

(d) the provisions which, in the opinion of the landlord or Housing Corporation, should be contained in the deed by which the further mortgage is effected.