The Mortgage Indemnities (Recognised Bodies) Order 1992

Made: 25th September 1992

Coming into force: 16th October 1992

The Secretary of State, in exercise of the powers conferred on him by section 444(1) of the Housing Act 1985[^f00001] and of all other powers enabling him in that behalf, and with the consent of the Treasury, hereby makes the following Order:

Citation and Commencement

1

This Order may be cited as the Mortgage Indemnities (Recognised Bodies) Order 1992 and shall come into force on 16th October 1992.

Specified Bodies

2

The following bodies are hereby specified as recognised bodies for the purposes of sections 442 and 443 of the Housing Act 1985 (agreements to indemnify mortgagees and contributions to mortgage costs):

• (a) Barshelfco (No. 39) Limited;

• (b) Barshelfco (No. 40) Limited;

• (c) Barshelfco (No. 41) Limited.

• (d) Bradford & Bingley Homeloans Limited;

• (e) Bradford & Bingley Homeloans Management Limited;

• (f) Bradford & Bingley Mortgages Limited;

• (g) Bradford & Bingley Mortgage Management Limited;

• (h) North Yorkshire Mortgage Limited;

• (i) Northern Rock Mortgage Services Limited.

Signed

Michael Howard — Secretary of State for the Environment — 3rd September 1992

We consent,

Irvine Patnick — Gregory Knight — Two of the Lords Commissioners of Her Majesty’s Treasury — 25th September 1992

Explanatory note

(This note is not part of the Order)

This Order specifies nine additional bodies as recognised bodies for the purposes of sections 442 and 443 of the Housing Act 1985. (Other bodies have been specified by previous Orders).

Section 442 provides for a local authority, with the approval of the Secretary of State, to enter into agreements with a recognised body to indemnify such a body against any loss or expense arising from an advance made by it on the security of a house or flat bought from the local authority, a new town corporation, an urban development corporation, the Development Board for Rural Wales, the Corporation or a registered housing association.

Section 443 provides for a local authority to contribute towards costs incurred in connection with a legal charge to secure such an advance.

Footnotes

[^f00001]: 1985 c. 68.