PART VTHE RIGHT TO BUY

The right to a mortgage

132The right to a mortgage.

1

A secure tenant who has the right to buy has the right, subject to the following provisions of this Part—

a

to leave the whole or part of the aggregate amount mentioned in section 133(1) outstanding on the security of a first mortgage of the dwelling-house, or

b

if the landlord is a housing association, to have the whole or part of that amount advanced to him on that security by the Housing Corporation;

and in this Act that right is referred to as “the right to a mortgage.”

2

Where the right to buy belongs jointly to two or more persons, the right to a mortgage also belongs to them jointly.