Scottish Government

Introduction

These administrative procedures provide detailed operational guidance for registered social landlords or their wholly-owned subsidiaries ("registered social landlords") and the Scottish Government on the operation of the Open Market Shared Equity pilot scheme. They contain information on the following:

• the Open Market Shared Equity Pilot scheme (Section one);
• the procedures for assessing, approving and paying grant (Section two);
• the arrangements for monitoring who is housed (Section three);
• the procedures to be applied when an owner wishes to increase their equity stake in their property (Section four);
• the procedures to be applied when an owner wishes to sell their property (Section five);
• the standard form of monthly report that registered social landlords must submit to the Scottish Government (Section six);
• the arrangements for formally reviewing the Open Market Shared Equity Pilot scheme (Section seven); and
• the Scottish Government's Regional Teams (Section eight).

These procedures also contain:

• the legal documentation that must be used for the Open Market Shared Equity Pilot scheme (Annexe A);
• the standard style of grant offer that registered social landlords will enter into with the Scottish Ministers (Annexe B);
• an application form which registered social landlords must ask individuals to complete when they are applying to the Open Market Shared Equity Pilot scheme (Annexe C);
• the procedures for establishing affordability and means testing (including worked examples showing how grant and equity stakes must be calculated) (Annexe D);
• the standard style of passport letter that must be issued to applicants when giving them formal consent on behalf of the Scottish Ministers to search for a property (Annexe E);
• the local maximum price ceilings that apply to the Open Market Shared Equity Pilot scheme together with maps showing the local maximum price ceiling areas, the operating registered social landlords and the eight administrative areas (Annexe F);
• a copy of the form that registered social landlords must complete when requesting payment (Annexe G);
• a copy of the form that registered social landlords must complete each time a property is purchased (Annexe H);
• a copy of the form that must be completed after each purchase giving information about the property and the owner (Annexe I);
• a copy of the form that must be completed each time an owner increases their equity stake in a property (Annexe J);
• an illustration of how a financial reconciliation must be calculated each time an owner increases their equity stake in a property (Annexe K);
• a copy of the form that must be completed each time a property is sold on the open market (Annexe L);
• a copy of the form that registered social landlords must complete each time a property with a golden share is bought back and re-sold (Annexe M);
• the standard style of monthly report (Annexe N); and
• monthly summary report (Annex O).

Please note that any reference to rights and obligations contained in documentation is purely for convenience and regard can only be had to the documentation itself upon which appropriate legal advice should be taken.

Any questions regarding these procedures should be referred in the first instance to the relevant Scottish Government Regional Team. Details are in Section eight.