Closed Housing Schemes
The Board has one Closed
Housing Scheme, as follows:
Value Linked Mortgage Scheme
The Mortgage Scheme was closed
to new entrants on 06 April 2008, and replaced by the Shared
Ownership Scheme, following changes in the assessment of
mortgage interest by HM Revenue & Customs..
The Scheme continues
for mortgages offered prior to 06 April 2008 and the
Board can still consider equity share revaluations
following home improvements; as well as accepting part
and full capital repayments.
If borrowers or their families are
intending to sell the mortgaged property, it is most important that
they make contact with the Board for advice about the correct
It is still one of the terms of the
mortgages that the borrowers are asked to arrange for the property
to be inspected every 5 years by a qualified surveyor; the
proforma CHARM 5 Year Inspection Report can be
downloaded from this site.
Should you have any
questions about a Value Linked Mortgage, please contact
the Housing Department: