The Home Purchase Assistance (Price-limits) Order 1988

Statutory Instruments

1988 No. 270

HOUSING, ENGLAND AND WALES

HOUSING, SCOTLAND

The Home Purchase Assistance (Price-limits) Order 1988

Made

18th February 1988

Laid before the House of Commons

25th February 1988

Coming into force

18th March 1988

The Secretary of State for the Environment, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of their powers under section 445 of the Housing Act 1985(1), and the Secretary of State for Scotland, as respects Scotland, in exercise of his powers under section 222 of the Housing (Scotland) Act 1987(2), and of all other powers enabling them in that behalf, hereby make the following Order:

Citation and Commencement

1.  This Order may be cited as the Home Purchase Assistance (Price-limits) Order 1988 and shall come into force on 18th March 1988.

Prescribed price-limits

2.  The amounts mentioned in the Schedule to this Order are hereby prescribed as the price-limits for the purposes of section 445 of the Housing Act 1985 or section 222 of the Housing (Scotland) Act 1987 (as the case may be) in respect of house property situated in the areas mentioned in relation thereto in that Schedule.

Revocation

3.  The Home Purchase Assistance (Price-limits) Order 1987(3) is hereby revoked.

Nicholas Ridley

Secretary of State for the Environment

15th February 1988

Peter Walker

Secretary of State for Wales

17th February 1988

Malcolm Rifkind

Secretary of State for Scotland

18th February 1988

SCHEDULE

The counties of Cleveland, Durham, Northumberland and Tyne and Wear	£26,600
The counties of Humberside, North Yorkshire, South Yorkshire and West Yorkshire	£25,800
The counties of Derbyshire, Leicestershire, Lincolnshire, Northamptonshire and Nottinghamshire	£30,300
The counties of Cambridgeshire, Norfolk and Suffolk	£38,400
Greater London	£63,000
The counties of Bedfordshire, Berkshire, Buckinghamshire, East Sussex, Essex, Hampshire, Hertfordshire, Isle of Wight, Kent, Oxfordshire, Surrey and West Sussex	£51,800
The counties of Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset and Wiltshire and the Isles of Scilly	£38,200
The counties of Hereford and Worcester, Shropshire, Staffordshire, Warwickshire and West Midlands	£28,300
The counties of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside	£26,800
Wales	£27,200
Scotland	£30,400

Explanatory Note

(This note is not part of the Order)

Assistance for first-time purchasers of house property, under section 446 of the Housing Act 1985 as respects England and Wales and under section 223 of the Housing (Scotland) Act 1987 as respects Scotland, can take the form of a bonus of up to £110 on savings and a loan of £600 additional to that which the lending institution would otherwise have made and free of any obligation to repay principal or interest for up to five years. Assistance is only available where the purchase price of the property is within the limit prescribed by the Secretary of State by order. This Order prescribes limits for different areas which are higher than those prescribed by the Home Purchase Assistance (Price-limits) Order 1987, which is revoked.

(1)

1985 c. 68.

(2)

1987 c. 26.

(3)

S.I. 1987/268.