section 106

paul1988

Hi there could anyone help me!!!

just got my mortgage from leeds building society and I am purchasing on a shared ownership,done all searchs and what not,now my solicitor has requested section 106 from the housing association,what is this and is it a legal requirement.

many thanks

stator

A section 106 is an agreement by the builder of a development to pay money to the council for investment in local services.
Perhaps your solicitor has asked for confirmation that section 106 agreements on the development have been paid?

paul1988

I see,I rang the housing association today to see what the hold up was and they seemed like they had no idea,there solicitor said its dated from 1997 whatever that means.

just baffled why this is holding me up completeing my purchase

stator

If you can find the planning application for the development on your council's website you might be able to see what Section 106 agreements there were and whether they have been 'discharged' or not.
I'm sure it's just a paper pushing exercise, nothing to worry about

paul1988

Found the section 106 on my local councils website ant a clue what I am looking for,just lays out alot of terms about sums to be paid to council and what not lol