Acquisition Stage and Phased Acquisition for Band 5

Grant for SHPG Schemes

Distinct grant requirements - Grant for SHPG schemes is normally claimed by the Association in one Tranche (100%), when purchase completion takes place. Therefore, the Acquisition stage grant application in SHPG schemes represents the final claim and no further advances of grant will be made. More information on Grant Timetable.

Partial acquisition - In certain conditions, grant for SHPG schemes may be claimed in two Tranches, with a first Tranche of 10% being claimed by the Association to cover situations where the vendor (contractor/developer) requires an initial deposit to allow a purchase contract to be signed. The remaining 90% Tranche is paid when the Association takes possession of the property etc. Normal rules governing the acquisition claim apply, see Table 5: Acquisition Stage (Band 2 & Band 5) for details.

Phased acquisition for Band 5

In exceptional circumstances a phased approach can be considered by Associations when procuring multiple-unit SHPG schemes. The scenario may arise when completion of a purchase contract for one or more properties in an SHPG scheme is subject to unavoidable and significant delay. A phased approach would enable grant to be claimed for those properties that are in the Association’s ownership and where the purchase contracts can be completed. . Associations can only utilise a phased approach to SHPG properties with prior agreement from NIHE DPG.

When a phase of completed properties have been taken into Association possession, or within 30 days thereof, the Association may submit a grant claim to the NIHE (DPG).  Grant must only be claimed on those completed units which the Association has taken into its possession.  

See Table 6: Phased Possession (Band 2 & Band 5) for details.

Grant must be claimed based on a ‘sub-phase’ of the approved scheme, as follows:

• Grant Rate Type (Line 2 – SFN1 form)
• [Number of Units Completed] x [Adjusted TCI per Unit]/ Person] x Unit Grant Rate] x [Scheme Cost Index] x [Acquisition Tranche Percentage]