The Loans for Mortgage Interest Regulations (Northern Ireland) 2017

Conditions to meet before the loan payments can be madeN.I.

This section has no associated Explanatory Memorandum

5.—(1) The Department may make the loan payments if—

(a)the loan payments offer is accepted in accordance with regulation 4 (acceptance of loan payments offer); and

(b)the conditions in paragraph (2) are met.

(2) The conditions are—

(a)where all of the legal owners are within the benefit unit, each legal owner has executed a [F1mortgage] in favour of the Department in respect of the relevant accommodation;

(b)the Department has obtained the written consent referred to in paragraph (3); and

(c)the information condition in regulation 6 (information condition) is met within the period of 6 months ending with the day on which the loan payments offer is accepted.

(3) The consent required by paragraph (2)(b) is consent given in writing to the creation of the mortgage by any person in the benefit unit in occupation of the relevant accommodation, who is not a legal owner.

Textual Amendments