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Low-cost Initiative for First-Time Buyers: New Supply Shared Equity Scheme Administrative Procedures

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Section four: Monitoring who is housed

4.1 The Scottish Government monitors who is housed in New Supply Shared Equity properties. Registered social landlords must therefore return a completed sales log form to the relevant grant provider within seven days of settlement taking place (see Annexe F).

4.2 The sales log form is in three parts. The first part (Part A) relates to details of the property that has been bought and is completed by the registered social landlord. The second part (Part B) gives details about the household which has bought the property and is completed by one of the names purchasers. And the third part (Part C) records information about the named purchasers of the property and is completed by each named purchaser.

4.3 The registered social landlord must forward Parts B and C of the sales log form to the applicant's solicitor for completion. The applicant's solicitor must ensure that these parts of the form are completed and returned to the registered social landlord on or before settlement. The registered social landlord must then complete Part A of the form before submitting both parts of the form to the relevant grant provider within seven days of settlement taking place.

4.4 Registered social landlords should note that the sales log form relates only to the initial sale of properties.

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Page updated: Tuesday, June 30, 2009