Decision

Authority granted for Legal Services to collect the sum of £57,098.25 from the owner's solicitor in respect of the council’s retained 24.107% share in the property under the former Right to Acquire on Rent to Mortgage Scheme and, upon receipt of the monies due, provide an executed DS1 form.

Reasons for the decision

The property is being sold and the council retained a 24.107% share under the former Right to Acquire on Rent to Mortgage Scheme. Following the application of the Final Discount in accordance with Schedule 6A of the Housing Act 1985, the value of the council’s share has been calculated at £57,098.25. The payment must be collected before the council releases its interest in the property.

Alternative options considered

No alternative options are stated within the authority form.