PART XIV LOANS FOR ACQUISITION OR IMPROVEMENT OF HOUSING
Local authority mortgages
437 Power of local authority on disposal to leave amount outstanding on mortgage.
On the disposal of a house under section 32 (disposal by local authority of land held for purposes of Part II(—
(a)
by way of sale, or
(b)
by the grant or assignment of a lease at a premium
the local authority may agree to the price or premium, or part of it, and any expenses incurred by the purchaser, being secured by a mortgage of the premises.