Additional First Homes Contribution definition

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 6.8, 6.9 or 8 of Part B of Schedule 1, the lower of the following two amounts: (a) 30% of the proceeds of sale; and (b) the proceeds of sale less the amount due and outstanding to any First Home Mortgagee of the relevant First Home under relevant security documentation which for this purpose shall include all accrued principal monies, interest and reasonable costs and expenses that are payable by the First Homes Owner to the First Home Mortgagee under the terms of any mortgage but for the avoidance of doubt shall not include other costs or expenses incurred by the First Homes Owner in connection with the sale of the First Home and which for the avoidance of doubt shall in each case be paid following the deduction of any SDLT payable by the First Homes Owner as a result of the disposal of the First Home other than as a First Home

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraph 3.8, 3.9 or 5 of this Schedule, the lower of the following two amounts:

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 6.8, 6.9 or 8 of this Schedule, the lower of the following two amounts: [30%][8] of the proceeds of sale; and the proceeds of sale less the amount due and outstanding to any Mortgagee of the relevant First Home under relevant security documentation which for this purpose shall include all accrued principal monies, interest and reasonable costs and expenses that are payable by the First Homes Owner to the Mortgagee under the terms of any mortgage but for the avoidance of doubt shall not include other costs or expenses incurred by the First Homes Owner in connection with the sale of the First Home and which for the avoidance of doubt shall in each case be paid following the deduction of any SDLT payable by the First Homes Owner as a result of the disposal of the First Home other than as a First Home.

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 2.11, 2.12 or 4.3 of this part of this Schedule, the lower of the following two amounts: (a) 30% of the proceeds of sale; and (b) the proceeds of sale less the amount due and outstanding to any First Homes Mortgagee of the relevant First Home under relevant security documentation which for this purpose shall include all accrued principal monies, interest and reasonable costs and expenses that are payable by the First Homes Owner to the First Homes Mortgagee under the terms of any mortgage but for the avoidance of doubt shall not include other costs or expenses incurred by the First Homes Owner in connection with the sale of the First Home and which for the avoidance of doubt shall in each case be paid following the deduction of any SDLT payable by the First Homes Owner as a result of the disposal of the First Home other than as a First Home.

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 6.8, 6.9 or 8 of Schedule 2, the lower of the following two amounts: (a) 30% of the proceeds of sale; and (b) the proceeds of sale less the amount due and outstanding to any Mortgagee of the relevant First Home under relevant security documentation which for this purpose shall include all accrued principal monies, interest and reasonable costs and expenses that are payable by the First Homes Owner to the Mortgagee under the terms of any mortgage but for the avoidance of doubt shall not include other costs or expenses incurred by the First Homes Owner in connection with the sale of the First Home and which for the avoidance of doubt shall in each case be paid following the deduction of any SDLT payable by the First Homes Owner as a result of the disposal of the First Home other than as a First Home;

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 8, 9 or 14 of Appendix 4, the lower of the following two amounts: 30% of the proceeds of sale; and the proceeds of sale less the amount due and outstanding to any First Homes Mortgagee of the relevant First Home under relevant security documentation which for this purpose shall include all accrued principal monies, interest and reasonable costs and expenses that are payable by the First Homes Owner to the First Homes Mortgagee under the terms of any mortgage but for the avoidance of doubt shall not include other costs or expenses incurred by the First Homes Owner in connection with the sale of the First Home and which for the avoidance of doubt shall in each case be paid following the deduction of any SDLT payable by the First Homes Owner as a result of the disposal of the First Home other than as a First Home;

Additional First Homes Contribution. 9 means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 3.8,

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 6.8, 6.9 or 8 of this Schedule, the lower of the following two amounts:(a) 50% of the proceeds of sale; and(b) the proceeds of sale less the amount due and outstanding to any Mortgagee of the relevant First Home under relevant security documentation which for this purpose shall include all accrued principal monies, interest and reasonable costs and expenses that are payable by the First Homes Owner to the Mortgagee under the terms of any mortgage but for the avoidance of doubt shall not include other costs or expenses incurred by the First Homes Owner in connection with the sale of the First Homeand which for the avoidance of doubt shall in each case be paid following the deduction of any SDLT payable by the First Homes Owner as a result of the disposal of the First Home other thanas a First Home. “Armed Services Member” means a member of the Royal Navy the Royal Marines the British Army or the Royal Air Force or a former member who was a member within the five (5) years prior to the purchase of the First Home, a divorced or separated spouse or civil partner of a member or a spouse or civil partner of a deceased member or former member whose death was caused wholly or partly bytheir service “Cluster” shall mean a group of Affordable Housing Units which does nothave contiguous boundaries with another group of Affordable Housing Units “Compliance Certificate” means the certificate issued by the District Council confirming that a Dwelling is being disposed of as a First Home to apurchaser meeting the Eligibility Criteria (National) and unless paragraph 6.2 applies the Eligibility Criteria (Local) “Discount Market Price” means a sum which is the Market Value discounted by at least 30% “Disposal” means a transfer of the freehold or (in the case of a flat only) the grant or assignment of a leasehold interest in a First Home other than:a letting or sub-letting in accordance with paragraph 7a transfer of the freehold interest in a First Home or land on which a First Home is to be provided before that First Home is made available for occupation except where the transfer is to a First Homes Owner(c) an Exempt Disposal

Additional First Homes Contribution means in circumstances where a sale of a First Home other than as a First Home has taken place in accordance with paragraphs 1.17, 4.7, , 1.18 3.8 or 3.9 of the Second Schedule, the lower of the following two amounts: • 30% of the proceeds of sale; and • the proceeds of sale less the amount due and outstanding to any Mortgagee of the relevant First Home under relevant security documentation which for this purpose shall include all accrued principal monies, interest and reasonable costs and expenses that are payable by the First Homes Owner to the Mortgagee under the terms of any mortgage but for the avoidance of doubt shall not include other costs or expenses incurred by the First Homes Owner in connection with the sale of the First Home and which for the avoidance of doubt shall in each case be paid following the deduction of any SDLT payable by the First Homes Owner as a result of the disposal of the First Home other than as a First Home] “Affordable Housing Contribution” unless otherwise agreed in writing with ESC means a sum calculated in accordance with the formula below and approved by ESC as part of the Affordable Housing Scheme for an ESC Phase or Cross Boundary Phase to be paid to the Council as a proportionate contribution in lieu of any deficiency of Affordable Dwellings being provided as part of the ESC Development against the requirements of the Council’s development plan Policy SCLP5.10 (East Suffolk Council – Suffolk Coastal Local Plan (23 September 2020)): A = B x C Where A is the Affordable Housing Contribution payable; B is the shortfall in Affordable Dwellings provided against the 1 in 3 Dwelling requirement of ESC’s development plan Policy SCLP5.10 (and for the avoidance of doubt in the case of a Cross Boundary Phase shall be calculated in respect of the ESC Dwellings only); and C is £[125,000]