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Question: 5.1.1. If different from 1.11, the contact point if the seller has owned the property for less than 6 months:
| Lender | Answer |
|---|---|
| Accord Buy to Let | As 1.11a. Please note that sub-sales, back to back transactions, assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. |
| Accord Mortgages Ltd | As 1.11a |
| Adam & Company | See 1.11 |
| Adam & Company International |
See 1.11 |
| Ahli United Bank (UK) plc | New Business/Underwriting - Residential Mortgage Department |
| Aldermore Bank PLC |
As 1.11. Purchase transactions where the property has been sold within the last 6 months are not normally acceptable, unless the property is being purchased from a housebuilder / developer who acquired the property in a part exchange transaction. Remortgages (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not) within the first 6 months of the original purchase date are not normally acceptable, unless: - you are able to provide evidence that the customer inherited the property following the death of the previous owner - the remortgage is to replace bridging finance taken out more than 1 month ago. Please note- maximum loan is the amount required to redeem the existing facility plus any documented improvement cost. - the remortgage is to replace a cash purchase completed more than 1 month ago. Please note-maximum loan is based on the lower of (i) evidenced purchase price plus any documented improvement costs or (ii) market value Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We will then consider whether or not it is acceptable. |
| Allied Irish Bank (GB), a trading name of AIB Group (UK) | Refer to AIB Group (UK) plc, Central Securities (GB), 92 Anne Street, Belfast, BT1 3H |
| April Mortgages | As per 1.11 |
| Atom Bank plc | As 1.11. above. |
| Aviva Equity Release UK Ltd | See 1.11 |
| Bank of China | mortgages@bank-of-china.com |
| Bank of Ireland (UK) plc | See 1.11 |
| Bank of Ireland as Bank of Ireland Mortgages | See 1.11 |
| Bank of Scotland Beginning A |
Bank of Scotland Plc, Mortgage Operations, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ. Tel: 0345 603 1136 Fax: 0131 339 2366 For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Bank of Scotland Beginning O |
Address and telephone number on the Mortgage Offer. For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Bank of Scotland Private Banking | |
| Barclays Bank UK PLC | Issuing Office |
| Barnsley Building Soc, a trading name Yorkshire Building Soc | As 1.11a. |
| Birmingham Bank | mortgages@birminghambank.com |
| Birmingham Midshires |
Completions Team at office issuing mortgage instructions. See Offer for contact details. For remortgage applications, the customer must have owned the property for at least 6 months. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Bluestone Mortgages | As per 1.11. |
| Bradford & Bingley Limited | As 1.11a |
| Britannia, a trading name of The Co-operative Bank plc | Britannia New Lending Britannia House Leek Staffordshire Moorlands ST13 5RG or Britannia New Lending DX 16351 Leek. Please note we do not lend on back to back sales, sub-sales or assigned contracts under any circumstances. |
| Buckinghamshire Building Society |
Buckinghamshire Building Society, High Street, Chalfont St Giles, Bucks, HP8 4QB e-mail mortgages@bucksbs.co.uk Tel: 01494 879517 Fax: 01494 877259 |
| Chelsea Building Society (a trading name of Yorkshire BS) | As 1.11a. |
| CHL Mortgages | As per 1.11 |
| Clydesdale Bank plc |
Mortgage Services PO BOX 3105 Clydebank Glasgow G60 9AU Tel -0800 121 4203 |
| Co-operative Bank plc |
See 1.11a earlier. Please note: we do not lend on back-to-back sales, sub-sales (where the seller has owned the property for less than 6 months), assignable contracts or irrevocable powers of attorney in favour of intervening sellers under any circumstances. We also regard as sub-sale cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). |
| Coutts | See 1.11 |
| Coutts Finance Co | See 1.11 |
| Coventry Building Society |
New Lending Department, Oakfield House, PO Box 600, Binley, Coventry, CV3 9YR Please note that the seller (or the applicant in the case of a Buy to Let remortgage) must have been registered as the owner of the property for at least 6 months prior to the application date. In the case of a residential remortgage there is no such requirement. |
| Cynergy Bank | As per 1.11.a |
| Danske Bank |
Please refer to the offer and/or instruction letter issued by the Mortgage Completion Team for the relevant contact details. You must report to us if the vendor has not owned the property for at least 6 months. You must advise us of the following: •The name and address of the person who sold, or will be selling, the property to the applicant`s vendor; •The amount paid for the property by the applicant`s vendor; •Details of any connection between the original and the applicant`s vendor, or between either vendor and the mortgage applicant; •Details of any work carried out to the property between the two transactions; •When the two transactions took place or will take place. |
| Darlington Building Society |
As 1.11. Purchase transactions where the property has been sold within the last 6 months are not normally acceptable, unless the property is being purchased from a house builder that acquired the property in a part exchange transitions. Remortgages (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not) within the first 6 months of the original purchase date are not normally acceptable, unless: -you are able to provide evidence that the customer inherited the property following death of the previous owner -the remortgage is to replace bridging finance. Remortgages out of bridging finance and/or a cash purchase cannot involve capital raising unless this relates to refurbishment costs. Sub-sales where the seller has owned the property for less than 6 months, and back to back transactions are NOT acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar affect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We will then consider whether or not it is acceptable. |
| DB UK Bank Ltd |
db mortgages PO Box 890 Newport NP20 9LZ Tel: 0845 650 6281 DX Address - not available |
| Dudley Building Society |
As 1.11a. Please provide us with the following information: 1. The name and address of the person who sold, or will be selling the property to the applicant's vendor. 2. The amount paid for the property by the applicant's vendor. 3. Any connection between the original vendor and the applicant's vendor, or between either the vendor and the mortgage applicant. 4. Details of any work carried out between the two transactions. 5. Reason for remortgage. Please place the case on hold until you receive further instructions from us. We will not lend where there is a sub-sale or back to back transaction or one where the contract for sale is to be assigned to a third party. |
| Ecology Building Society | As 1.7 |
| Family Building Soc (a trading name of National Counties BS) |
Loans Underwriting Department, Ebbisham House, 30 Church Street, Epsom, Surrey KT17 4NL Email: loansunderwriting@familybsoc.co.uk |
| First Direct | |
| Fleet Mortgages |
See 1.11a Sub-sales, where the seller has owned the property for less than 6 months, and similar back to back transactions are not acceptable. We also regard as sub-sales circumstances where the seller (which may include a vehicle controlled in whole or in part by the borrower, or where the borrower is a company or LLP, a director, shareholder or member of the borrower), for example, acquire the freehold title to the property, or any superior interest, which they then immediately (or within 6 months) sell on to the borrower by granting a lease or leases to them. In addition, remortgages within 6 months of the original purchase are not acceptable unless the borrower is already the registered proprietor of the property. |
| Foundation Home Loans |
See 1.11a For re-mortgage applications the borrower must have owned the property for at least 6 months from the original purchase date. Please note: - Properties which have been purchased by the borrower with the aid of a bridging loan and the remortgage is to replace this loan; or - Where the property has been purchased using cash funds and you are able to clearly evidence the origins of those funds to us; - Where you are able to demonstrate that the borrower inherited the property following the death of the previous owner and provided you confirm this to us in writing ; the above requirement may not apply. Please check with us before proceeding. Sub-sales, where the seller has owned the property for less than 6 months and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold title (or superior leasehold) to the property, which they then immediately sell onto to the borrower by the grant of a lease to them (or sub-lease). You should also report any other structure to the transaction which has a similar effect. This also includes circumstances where the seller is limited liability company or limited liability partnership where the borrower is a director or shareholder of the limited liability company or a member of the limited liability partnership. Applications which involve assignable contracts, transferable contracts, novation contracts and the like or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should report any other structure to the transaction which has a similar effect. |
| Furness Building Society | As 1.11a |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Generation Home | Please raise a query through Secure Link which is accessed via LMS Conveyancer Zone. |
| Godiva Mortgages Ltd |
New Lending Department, Oakfield House, PO Box 600, Binley, Coventry, CV3 9YR Please note that the seller (or the applicant in the case of a Buy to Let remortgage) must have been registered as the owner of the property for at least 6 months prior to the application date. In the case of a residential remortgage there is no such requirement. |
| Habito |
As per 1.11 Please note that the seller (or the applicant in the case of a remortgage) must have been registered as the owner of the property for at least 6 months prior to the application date. |
| Halifax |
Customer Service Centre (see offer for address and fax number) For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Halifax Loans Ltd |
Halifax Loans Limited, Trinity Road, Halifax, HX1 2RG NB We will not normally proceed on cases where the property is already owned by the borrower but for less than 6 months. Applications which involve assignable contracts are not acceptable. |
| Hampden & Co. plc | See 1.11 |
| Handelsbanken | Refer to Branch office instructing you. |
| Harpenden Building Society | As 1.11a |
| Hinckley and Rugby Building Society | Principal Office, Completions Team. |
| Hodge |
We will not normally lend where there is a sub-sale, sale and leaseback or a back to back transaction. All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase must be referred to the Mortgage Lending Department (please see 1.11a), ensuring that the following details are provided: • confirmation that the property is currently owned by the seller; • date on which the seller acquired the property; and • the purchase price paid by the borrower. For re-mortgages, we require confirmation that: • the property is currently owned by the borrower; • the date on which the borrower acquired the property; and • the purchase price paid by the borrower. Applications which involve assignable contracts or irrevocable Powers of Attorney in favour of intervening sellers are not acceptable. You should report any other structure to the transaction which has a similar effect. |
| Hodge Equity Release |
We will not normally lend where there is a sub-sale, sale and leaseback or a back to back transaction. All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase must be referred to the Mortgage Lending Department (please see 1.11a), ensuring that the following details are provided: • confirmation that the property is currently owned by the seller; • date on which the seller acquired the property; and • the purchase price paid by the borrower. For re-mortgages, we require confirmation that: • the property is currently owned by the borrower; • the date on which the borrower acquired the property; and • the purchase price paid by the borrower. Applications which involve assignable contracts or irrevocable Powers of Attorney in favour of intervening sellers are not acceptable. You should report any other structure to the transaction which has a similar effect. |
| Holmesdale Building Society | Lender. |
| HSBC UK Bank plc | |
| Intelligent Finance |
Securities, Intelligent Finance, PO Box 890, Leeds, LS1 9UG For remortgage applications, the customer must have owned the property for at least 6 months. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Investec Bank plc | See 1.11 |
| ITL Mortgages |
New Lending Department, Oakfield House, PO Box 600, Binley, Coventry, CV3 9YR Please note that the seller (or the applicant in the case of a Buy to Let remortgage) must have been registered as the owner of the property for at least 6 months prior to the application date. In the case of a residential remortgage there is no such requirement. |
| JPMorgan Chase Bank, N.A. | Refer to office issuing Mortgage Instructions. |
| Kensington Mortgage Company Ltd | If owned less than 6 months contact; Kensington Mortgages, New Business Operations Centre, Ascot House, Maidenhead Office Park, Maidenhead, SL6 3QQ. Tel: 03444 990011 Fax: 03444 990022. |
| Kent Reliance (a trading name of OneSavings Bank plc) |
Issuing office. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. |
| Keystone Property Finance | As 1.11a |
| Landbay Partners Limited | See 1.11a. Legals@landbay.co.uk. |
| Landmark Mortgages Limited |
New Mortgage Completions Landmark Mortgages PO Box 656 Durham DH1 9LY Tel - 0330 159 7152 |
| Leeds Building Society |
We will not normally lend where there is a sub-sale, sale and leaseback or a back to back transaction. All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase must be referred to the Mortgage Lending Department (please see 1.11a), ensuring that the following details are provided: • confirmation that the property is currently owned by the seller; • date on which the seller acquired the property; and • the purchase price paid by the borrower. For re-mortgages, we require confirmation that: • the property is currently owned by the borrower; • the date on which the borrower acquired the property; and • the purchase price paid by the borrower. Applications which involve assignable contracts or irrevocable Powers of Attorney in favour of intervening sellers are not acceptable. You should report any other structure to the transaction which has a similar effect. |
| Legal & General Home Finance Ltd | Where the Property is being purchased, we will not usually proceed where the seller has owned the Property for less 6 months unless it is a purchase from a developer who had part exchanged the Property from a previous owner. For a remortgage the Borrowers must have owned the Property for a period of at least 6 months unless you are able to provide evidence that they have inherited the Property. |
| LendInvest | See 1.11a |
| LiveMore Capital | As 1.11a. You should not submit your Certificate of Title to us until you have received a response from us. |
| Lloyds Bank plc pre fixed 20/40 |
Morgage Processing, please see 1.11. For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Lloyds Bank plc pre fixed 50/30/77 |
For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Lloyds TSB Scotland plc |
Mortgage Processing, please see 1.11a. For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| M&S Bank | M&S Bank, PO Box 12, Skipton, BD23 2HL. Telephone Number 0345 002 1128 Fax 0345 111 0322 |
| Magellan Homeloans | Issuing Office |
| Manchester Building Society | Mortgage Processing Department. |
| Market Harborough Building Society |
As per 1.7 |
| Masthaven Bank | As per 1.11. |
| Metro Bank plc | As per 1.11. |
| ModaMortgages |
Email our Completions Team at completions@modamortgages.co.uk. Please include the Mortgage Reference Number which is on the first page of the Mortgage Offer. For remortgage buy-to-let lending the property must have been owned for a minimum of 6 months. Sub-sales, where the seller has owned the property for less than 6 months and back-to-back transactions are not acceptable. We also regard as sub-sales where the seller acquires the freehold (or superior leasehold) title to the property, which they immediately sell on to the borrower by the grant to them of the lease (sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you must report the details. We shall then consider whether or not it is acceptable. |
| Molo Finance | As 1.11a. |
| Monmouthshire Building Society |
Lending Operations Department Monmouthshire Building Society Monmouthshire House John Frost Square Newport NP20 1PX For remortgage applications, the customer must have owned the property for at least 6 months. Sub-sales; where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We shall then consider whether or not it is acceptable. |
| Mortgage Agency Services | Mortgage Agency Services PO Box 138 Plymouth Devon PL1 1XY |
| Mortgage Express | As 1.11a |
| Mortgage Express No 2 | |
| MPowered Mortgages |
As 1.11a Please report to us immediately if the owner or registered proprietor has been registered for less than twelve months. On remortgages, please report if to us immediately if the owner or registered proprietor has been registered for less than six months. |
| National Counties Building Society |
Loans Underwriting Department, Ebbisham House, 30 Church Street, Epsom, Surrey KT17 4NL Email: loansunderwriting@ncbs.co.uk |
| National Westminster Bank plc |
When reporting back to us, please provide the following information: The name and address of the person who sold the property to the current owner/registered proprietor. The amount the current owner/registered proprietor bought the property for. Details of any connections between the current owner/registered proprietor and their seller. Details of any connections between the current owner/registered proprietor and the applicant, Details of any work carried out between the date that the current owner/registered proprietor bought the property and the current date. |
| Nationwide Building Society |
We will not normally lend where there is a sub-sale or back to back transaction and we will not lend where the contract for sale is to be assigned to a third party. All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase should be referred to the issuing office, ensuring that the following details are provided: The name and address of the person who sold, or will be selling, the property to the applicant`s vendor; The amount paid for the property by the applicant`s vendor; Details of any connection between the original and the applicant`s vendor, or between either vendor and the mortgage applicant; Details of any work carried out to the property between the two transactions; When the two transactions took place or will take place. |
| Nedbank Private Wealth Ltd | Please refer to us |
| New Street Mortgages |
New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW. Tel: 0333-300-3100, Fax: 0333-300-3132, email: enquiries@newstreetmortgages.com |
| NRAM Ltd | See 1.11a |
| Paragon Buy to Let Mortgages |
As 1.11a. Your specific attention is drawn to our Supplemental Instructions and Guidance Notes. |
| Paragon Residential Owner-Occupied Mortgages | As 1.11a. |
| Paratus AMC Ltd |
New Business Department, Foundation Home Loans, 5 Arlington Square, Downshire Way, Bracknell, RG12 1WA /Email: FHL@foundationhomeloans.co.uk/ Tel: 01344 770 8033 For re-mortgage applications the borrower must have owned the property for at least 6 months from the original purchase date. Please note: - Buy to Let Properties which have been purchased by the borrower with the aid of a bridging loan and the remortgage is to replace this loan; or - Where you are able to demonstrate that the borrower inherited the property following the death of the previous owner and provided you confirm this to us in writing ; the above requirement may not apply. Please check with us before proceeding. Sub-sales, where the seller has owned the property for less than 6 months and back to back transactions are not acceptable. Applications which involve assignable contracts, transferable contracts, novation contracts and the like or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should report any other structure to the transaction which has a similar effect. |
| Parity Trust | As 1.7 |
| Pepper Money | As is for 1.11 |
| Pepper Money (PUK) | As is for 1.11 |
| Perenna | In every occurrence, please contact our Mortgage team by either telephone: 0330 341 2013 or Email: conveyancing@perenna.co.uk |
| Platform (a trading name of The Co-operative Bank p.l.c.) | Refer to office issuing Mortgage Instructions.Please note we do not lend on back to back sales, sub-sales or assigned contracts under any circumstances. |
| Precise Mortgages (Charter Court Financial Services Ltd) |
Completions Team at the address stated on the mortgage offer/instructions. For Residential remortgage applications, the customer must have owned the property for at least 12 months.This is reduced to 6 months for Buy-to-Let applications. The exception to these rules is where the application is to exit a Precise Mortgages Bridging loan, whereby the application can proceed at any time following advance of the Bridging loan. Sub-sales, where the seller has owned the property for less than 6 months and back to back transactions are not acceptable. We also regard as sub-sales where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you must report the details. We shall then consider whether or not it is acceptable. |
| Principality Building Society | Please provide us with the following information: i) the name and address of the person who sold or will be selling the property to the applicant?s seller; ii)the amount paid for the property by the applicant?s seller; iii) details of any connection between the original seller and the applicant?s seller, or between either seller and the mortgage applicant; iv) details of any work carried out to the property between the 2 transactions; v) when the 2 transactions took place or will take place and vi) an explanation as to why the seller is selling within the 6 month period specified in section 5 of the handbook. You must not proceed with your instruction until you receive written confirmation from us that you may do so. |
| Reliance Bank Ltd |
mortgages@reliancebankltd.com or 0207 398 5422 - Option 1 Discuss New Lending/Option 2 Discuss existing Reliance Bank Mortgage |
| Rooftop Mortgages Ltd | The address and contact details shown on the mortgage offer. |
| Saffron Building Society |
The applicant(s) must have been the registered owner(s) of the property for a minimum of six months; we may waive this if the property has been inherited and there is evidence of legal transfer of ownership to the applicant post probate or there is another reasonable explanation (e.g. purchase/gift of building plot, Developer Part Exchange etc.). Please refer all cases to us at: Mortgage Processing Team Saffron Building Society, Saffron House, 1A. Market Street, Saffron Walden, Essex. CB10 1HX Mortgage.processing@saffronbs.co.uk Telephone 01799 582966 Fax 01799 581901 |
| Sainsbury's Bank | Contact point as detailed in 1.11a. In such cases, please provide us with the name and address of the previous owner; the price paid to the previous owner by the previous vendor; and details of any connection between the previous owner, the vendor and/or the borrower. You should not submit your Certificate of Title until such time as we have confirmed we are happy to proceed. |
| Santander UK plc | Refer to Mortgage Operations office instructing you. |
| Scottish Building Society | |
| Scottish Widows Bank |
Customer Service Centre (see offer for address and fax number) For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| Secure Trust Bank PLC |
As 1.11. Purchase transactions where the property has been sold within the last 6 months are not normally acceptable, unless the property is being purchased from a housebuilder that acquired the property in a part exchange transaction. Re-mortgages (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not) within the first 6 months of the original purchase date are not normally acceptable, unless: - you are able to provide evidence that the customer inherited the property following the death of the previous owner - the re-mortgage is to replace bridging finance. Re-mortgages out of bridging finance provided by a lender other than the Bank cannot involve capital raising. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We will then consider whether or not it is acceptable. |
| Skipton Building Society |
(i) Completions Team via LMS Secure Link (ii) Commercial Servicing Team |
| St James Place Bank |
Mortgage Administration, St James's Place Bank, Administration Centre, PO Box 1869, Livingston EH54 7XS For remortgage applications, the customer must have owned the property for at least 6 months. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We shall then consider whether or not it is acceptable. |
| State Bank of India UK |
As 1.11a. This type of transaction will usually be unacceptable to the Bank. There are few circumstances where this type of transaction may be acceptable and these will require the disclosure/compliance with a number of items. Please refer to us for guidance. |
| Swansea Building Society |
11/12 Cradock Street Swansea SA1 3EW 01792 739100 |
| The Mortgage Business |
The Mortgage Business, PO Box 548, Leeds, LS1 1WU Fax No.0845 6039009 For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they immediately sell on to the borrower by the grant to them of a a lease (or sub-lease). Applications which involve ‘Assignable Contracts’, 'Fulfilment Contracts', 'Assisted Contracts', 'Assignment Contracts', 'Novation Contracts', 'Transferable Contracts' or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. Please report to us if any Unilateral Notice is registered against the freehold title and relates to the security address. |
| The Mortgage Lender Limited |
completions@themortgagelender.com Tel: 0344 257 0426 For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We will then consider whether or not it is acceptable. |
| The Mortgage Works |
We will not normally lend where there is a sub-sale or back to back transaction or one where the contract for sale is to be assigned to a third party. All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase should be referred to the issuing office, ensuring that the following details are provided: The name and address of the person who sold, or will be selling the property to the applicant`s vendor; The amount paid for the property by the applicant`s vendor; Details of any connection between the original vendor and the applicant`s vendor, or between either vendor and the mortgage applicant; Details of any work carried out to the property between the two transactions; When the two transactions took place or will take place. |
| The Royal Bank of Scotland plc |
When reporting back to us, please provide the following information: The name and address of the person who sold the property to the current owner/registered proprietor. The amount the current owner/registered proprietor bought the property for. Details of any connections between the current owner/registered proprietor and their seller. Details of any connections between the current owner/registered proprietor and the applicant, Details of any work carried out between the date that the current owner/registered proprietor bought the property and the current date. |
| The Royal Bank of Scotland plc Direct Line Mortgages |
When reporting back to us, please provide the following information: The name and address of the person who sold the property to the current owner/registered proprietor. The amount the current owner/registered proprietor bought the property for. Details of any connections between the current owner/registered proprietor and their seller. Details of any connections between the current owner/registered proprietor and the applicant, Details of any work carried out between the date that the current owner/registered proprietor bought the property and the current date. |
| The Royal Bank of Scotland plc Direct Line One |
As detailed above in 1.11a. |
| The Royal Bank of Scotland plc First Active |
When reporting back to us, please provide the following information: The name and address of the person who sold the property to the current owner/registered proprietor. The amount the current owner/registered proprietor bought the property for. Details of any connections between the current owner/registered proprietor and their seller. Details of any connections between the current owner/registered proprietor and the applicant, Details of any work carried out between the date that the current owner/registered proprietor bought the property and the current date. |
| The Royal Bank of Scotland plc Natwest one Account |
When reporting back to us, please provide the following information: The name and address of the person who sold the property to the current owner/registered proprietor. The amount the current owner/registered proprietor bought the property for. Details of any connections between the current owner/registered proprietor and their seller. Details of any connections between the current owner/registered proprietor and the applicant, Details of any work carried out between the date that the current owner/registered proprietor bought the property and the current date. |
| The Royal Bank of Scotland plc One Account |
When reporting back to us, please provide the following information: The name and address of the person who sold the property to the current owner/registered proprietor. The amount the current owner/registered proprietor bought the property for. Details of any connections between the current owner/registered proprietor and their seller. Details of any connections between the current owner/registered proprietor and the applicant, Details of any work carried out between the date that the current owner/registered proprietor bought the property and the current date. |
| The Royal Bank of Scotland plc Virgin One |
When reporting back to us, please provide the following information: The name and address of the person who sold the property to the current owner/registered proprietor. The amount the current owner/registered proprietor bought the property for. Details of any connections between the current owner/registered proprietor and their seller. Details of any connections between the current owner/registered proprietor and the applicant, Details of any work carried out between the date that the current owner/registered proprietor bought the property and the current date. |
| The Tipton & Coseley Building Society |
Mortgage Department. |
| Together Personal Finance Limited | Contact point as detailed in 1.11a above. |
| Topaz Finance Ltd |
Topaz Finance Limited Gateway House, Gargrave Road, Skipton, North Yorkshire, BD23 2HL 0345 389 1672 |
| TSB Bank plc |
Mortgage Processing, please see 1.11a. For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We will then consider whether or not it is acceptable. |
| Ulster Bank |
As detailed above in 1.11a. |
| Vida Homeloans |
As 1.11a. Purchase transactions where the property has been sold within the last 6 months are not normally acceptable, unless: - £for£ bridging finance (plus legitimate fees and interest charged by the lender) - Inherited property following the death of the proprietor, forms part of the estate for inheritance with satisfactory documentation obtained. - New-Build property being purchased from a housebuilder that acquired the property in a part-exchange transaction. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. |
| Virgin Money |
Mortgage Processing Operations Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE3 4PL or DX 60350 Gosforth Solicitors Helpline: 0845 604 4858 |
| Whistletree (a trading name of TSB Bank plc) |
Please see 1.11a. For remortgage applications (where the customer is already the registered proprietor of the property whether subject to an existing mortgage or not), the customer must have owned the property for at least six months. Where you have obtained evidence that the customer inherited the property following the death of the previous owner and provided you confirm this to us in writing, the preceding sentence will not apply. Sub-sales, where the seller has owned the property for less than 6 months, and back to back transactions are not acceptable. We also regard as sub-sales cases where the seller acquires the freehold (or superior leasehold) title to the property, which they then immediately sell on to the borrower by the grant to them of a lease (or sub-lease). Applications which involve assignable contracts or irrevocable powers of attorney in favour of intervening sellers are not acceptable. You should also report any other structure to the transaction which has a similar effect. If you consider that there are reasons for the use of any of the above arrangements which mean the case is acceptable, you should report the details. We will then consider whether or not it is acceptable. |
| Yorkshire Bank Home Loans Ltd |
Mortgage Services PO BOX 3105 Clydebank Glasgow G60 9AU Tel - 0800 121 4203 |
| Yorkshire Building Society | As 1.11a. |
| Zephyr Homeloans | As per 1.11 |