Proposal

Application for modification of Section 106 Agreement. Clauses 3.2 and 3.3 of the Section 106 Agreement are required to be amended to enable shared ownership lessees to purchase up to 100% share in their home without restriction and to avoid mortgageability issues due to staircasing restrictions. The Deed of Variation will allow the following: - A leaseholder of a shared ownership unit to staircase to 100%; and - The leaseholder to acquire either the full leasehold/head leasehold interest in relation to a flat or acquire the freehold interest in relation to a house; and - Include a paragraph that confirms once final staircasing has taken place, the leaseholder and their successors in title will not be bound by the affordable housing provisions.

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