LegalizeThe Home Purchase Assistance (Price-limits) Order 1987
Made: 24th February 1987
Laid before the House of Commons: 6th March 1987
Coming into force: 27th March 1987
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 sections 445(2) and (3) of the Housing Act 1985[^f00001], and the Secretary of State for Scotland, as respects Scotland, in exercise of his powers under sections 1(2) and 2(7) of the Home Purchase Assistance and Housing Corporation Guarantee Act 1978[^f00002], 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 1987 and shall come into force on 27th March 1987.
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 1 of the Home Purchase Assistance and Housing Corporation Guarantee Act 1978 (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 1986[^f00003] is hereby revoked.
SCHEDULE
| The counties of Cleveland, Durham, Northumberland and Tyne and Wear | £25,500 |
|---|---|
| The counties of Humberside, North Yorkshire, South Yorkshire and West Yorkshire | £24,800 |
| The counties of Derbyshire, Leicestershire, Lincolnshire, Northamptonshire and Nottinghamshire | £27,400 |
| The counties of Cambridgeshire, Norfolk and Suffolk | £34,600 |
| Greater London | £55,400 |
| The counties of Bedfordshire, Berkshire, Buckinghamshire, East Sussex, Essex, Hampshire, Hertfordshire, Isle of Wight, Kent, Oxfordshire, Surrey and West Sussex | £44,600 |
| The counties of Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset and Wiltshire and the Isles of Scilly | £35,600 |
| The counties of Hereford and Worcester, Shropshire, Staffordshire, Warwickshire and West Midlands | £26,900 |
| The counties of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside | £26,100 |
| Wales | £26,700 |
| Scotland £29,800 |
Signed
Nicholas Ridley — Secretary of State for the Environment — 18th February 1987
Nicholas Edwards — Secretary of State for Wales — 23rd February 1987
Malcolm Rifkind — Secretary of State for Scotland — 24th February 1987
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 1 of the Home Purchase Assistance and Housing Corporation Guarantee Act 1978 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 1986, which is revoked.
Footnotes
[^f00001]: 1985 c. 68.
[^f00002]: 1978 c. 27.
[^f00003]: S.I. 1986/1511.
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