staff mortgage

94a regulated mortgage contract between an employer, or an undertaking in the same group as the employer, as lender and the employee (alone or with another person) as borrower to defray money applied for any of the following purposes:

1. (a) acquiring any residential land which was intended, at the time of the acquisition, for occupation by the employee as their home;
2. (b) carrying out repairs or improvements to any residential land which was intended, at the time of taking out the loan, for occupation by the employee as their home; or
3. (c) payments in respect of a loan (whether of interest or capital).