PART XIV E+W LOANS FOR ACQUISITION OR IMPROVEMENT OF HOUSING

Local authority mortgages E+W

437 Power of local authority on disposal to leave amount outstanding on mortgage. E+W

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.