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Question: 5.7.1. Does the lender lend on flying freeholds?
| Lender | Answer |
|---|---|
| Accord Buy to Let | No. |
| Accord Mortgages Ltd | Yes, provided only part of the property is affected by a flying freehold and you confirm that the title to the property incorporates (or will incorporate prior to completion of Accord Mortgages' mortgage) satisfactory and enforceable rights of support, shelter and repair together with appropriate rights of entry. |
| Adam & Company |
Accepted, subject to our prior written approval. See 1.11. Indemnity insurance may be required. |
| Adam & Company International |
Accepted, subject to our prior written approval. See 1.11. Indemnity insurance may be required. |
| Ahli United Bank (UK) plc | No |
| Aldermore Bank PLC | Yes, subject to 5.72 although if the flying freehold is not detailed on the valuation report, you should refer to us so we can check with our valuer. |
| 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 | Yes, up to 10% of the property area. |
| Atom Bank plc | Yes, providing the element of flying freehold does not exceed 15% and subject to confirmation that adequate rights of support and mutually enforceable repairing covenants exist. |
| Aviva Equity Release UK Ltd | Aviva will lend against properties that have up to 15% of their total habitable floor area composed of Flying Creeping Freehold (FH), subject to valuer’s comments. Please note that this is 15% of the total habitable floor area of the building – not 15% of the floor in question. |
| Bank of China | Yes, provided the extent of the security affected is no more than 15% of the security property and adequate indemnity insurance is arranged in our favour. |
| Bank of Ireland (UK) plc |
Yes, where only part of the subject property is affected. The conveyancer must advise the Bank both the extent of the flying freehold and details of the accommodation contained within it. |
| Bank of Ireland as Bank of Ireland Mortgages | Yes, where only part of the subject property is affected. There is no requirement to report these flying freeholds to us. |
| Bank of Scotland Beginning A |
Yes, but only if paragraph 5.6.2 is complied with. |
| Bank of Scotland Beginning O |
Yes, but only if paragraph 5.6.2 is complied with. |
| Bank of Scotland Private Banking | |
| Barclays Bank UK PLC |
Coach House Flat: A flat above 2 or more garages where the flat owner will use/own 1 of the garages and the others are used/owned by owners of neighbouring properties. These are acceptable, provided the flat is above no more than 4 garages and on completion the applicant will own the freehold of the whole block, the flat and all the garages (one or more of the garages will be subject to a long lease to a neighbouring property(ies), with mutually enforceable covenants for repair. Flats Above Vehicular Access: These are acceptable provided the freehold title to the flat also includes the access underneath the flat or if it does not the flying freehold element is 15 sq. /m or less. Older Properties: These are considered acceptable in small areas (up to 15% of the overall external floor area of the building can be a Flying Freehold) subject to confirmation that adequate rights of support and mutually enforceable repairing covenants exist. |
| Barnsley Building Soc, a trading name Yorkshire Building Soc |
Yes, provided only part of the property is affected by a flying freehold and you confirm that the title to the property incorporates (or will incorporate prior to completion of the Society?s mortgage) satisfactory and enforceable rights of support, shelter and repair together with appropriate rights of entry. |
| Better HomeOwnership (Mortgages) |
Yes, subject to the approval of our valuer. |
| Birmingham Bank | Yes subject to it being no more than 10% of the security |
| Birmingham Midshires |
Yes, if only part of the title is a "flying" or "creeping" freehold. |
| Bluestone Mortgages | Yes, provided the flying freehold is no more than 10% of the total floor area of the property. |
| Bradford & Bingley Limited | Yes, provided not more than 25% of the floor area is affected |
| Britannia, a trading name of The Co-operative Bank plc | Yes, provided extent of the security affected is no more than 15% of the property |
| Buckinghamshire Building Society | Yes, subject to the approval of our valuer and the flying freehold not exceeding 25% of the floor area |
| Chelsea Building Society (a trading name of Yorkshire BS) | Yes, provided only part of the property is affected by a flying freehold and you confirm that the title to the property incorporates (or will incorporate prior to completion of our mortgage) satisfactory and enforceable rights of support, shelter and repair together with appropriate rights of entry. |
| CHL Mortgages | Yes provided the flying freehold does not exceed 20% and adequate indemnity insurance is arranged in our favour and subject to any comments by our valuer. You should send us details of the insurer and retain a copy on your file for review. |
| Clydesdale Bank plc |
Yes provided there is a deed of covenant or an indemnity policy in place to cover potential liability for repairs/renovations.The indemnity policy must incorporate:-Covering the Bank as mortgagee and any successors in title.Sum assured to be at the amount of the mortgage. Policy to include an escalator clause increasing the sum assured by 5% each year. |
| Co-operative Bank plc | Yes, provided extent of the security affected is no more than 15% of the property. |
| Coutts | Accepted, subject to our prior written approval. See 1.11. Indemnity insurance may be required. |
| Coutts Finance Co | Accepted subject to our prior written approval. See 1.11. Indemnity insurance may be required. |
| Coventry Building Society | Yes, subject to the area of flying freehold being no more than 25% of the floor area. |
| Cynergy Bank | We will consider if part of the property comprises or is affected by a flying freehold. |
| Danske Bank | Flying freeholds will only be considered where up to 15% of the total property area is affected. This is subject to title to the property incorporating (or will incorporate prior to completion of the Bank’s mortgage) satisfactory and enforceable rights of support, protection, repair and maintenance together with appropriate rights of entry. You do not have to report the flying freehold to us. |
| Darlington Building Society | No but refer to Customer Support Department, Principal Office if you feel the security is adequate. |
| DB UK Bank Ltd | Yes, but this is dependent of the extent of the property affected |
| Dudley Building Society | Yes, if no more than 25% of the property is affected and there are adequate cross covenanting existing and a deed of mutual enforceability of covenants placed with the title deeds. |
| Ecology Building Society | Yes |
| Family Building Soc (a trading name of National Counties BS) | Yes, provided the requirements of para 5.7.2 of Part 1 of the UK Finance Mortgage Lenders' Handbook are satisfied. |
| First Direct |
Yes, provided there are mutual rights of support, protection, repair and maintenance and entry for repair and maintenance and mutually enforceable covenants, usually including a Deed of Covenant, being entered into in identical form on each dealing with the Property between the existing/other flat owners and the incoming purchaser. If a flying freehold is mentioned in the valuation report, the Bank requires you to check there are mutual rights of support and maintenance and mutually enforceable covenants and or if these are not in place to arrange appropriate indemnity insurance. If the flying freehold is not mentioned within the valuation report this will also need to be referred back to the valuer. |
| Fleet Mortgages | Properties with an element of flying freehold are not generally acceptable. A property with an element of less than 10% may be considered on referral. |
| Foundation Home Loans |
Yes, if only part of the title is "flying" or "creeping" freehold, and you are satisfied that the arrangements made in respect of it render the title good and marketable. Indemnity insurance may be considered on a case by case basis. Where the flying freehold is over 20% of the total floor area, these should be referred to us. See 1.11.a |
| Furness Building Society |
Yes if only part of the security is affacted and satisfactory legally defined rights of support exist. |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Gen H | If it is a feature of local housing and the element of flying freehold is <20% of the total floor area we may be able to lend at our discretion. Please notify us through Secure Link which is accessed via LMS Conveyancer Zone. If we grant consent to proceed you must satisfy the requirements set out at 5.7.2. |
| Godiva Mortgages Ltd | Yes, subject to the area of flying freehold being no more than 25% of the floor area. |
| Habito | Yes, subject to the area of flying freehold being no more than 20% of the floor area. |
| Halifax |
Yes, if only part of the title is a "flying" or "creeping" freehold. |
| Halifax Loans Ltd |
Yes, if only part of the title is a "flying" or "creeping" freehold. |
| Hampden & Co. plc | Accepted, subject to prior written approval. See 1.11. Indemnity insurance may be required. |
| Handelsbanken | Yes, subject to prior approval of the Branch office instructing you and only if part of the title is a flying freehold and the contents of paragraph 5.7.2 have all been complied with. |
| Harpenden Building Society |
Can be considered, refer to Completions@harpendenbs.co.uk |
| Hinckley and Rugby Building Society | Yes, subject to the flying freehold being no more than 25% of the floor area. |
| Hodge | Yes, provided that the flying freehold is no more than 15% of the total floor area of the property, and the risk is covered by an acceptable indemnity insurance policy and the requirements of 5.7.2 are met. |
| Hodge Equity Release | Yes, provided the flying freehold is no more than 15% of the total floor area of the property, and the risk is covered by an acceptable indemnity insurance policy and the requirements of 5.7.2 are met |
| Holmesdale Building Society | no, except in exceptional circumstances. |
| HSBC UK Bank plc |
Yes, provided there are mutual rights of support, protection, repair and maintenance and entry for repair and maintenance and mutually enforceable covenants, usually including a Deed of Covenant, being entered into in identical form on each dealing with the Property between the existing/other flat owners and the incoming purchaser. If a flying freehold is mentioned in the valuation report, the Bank requires you to check there are mutual rights of support and maintenance and mutually enforceable covenants and or if these are not in place to arrange appropriate indemnity insurance. If the flying freehold is not mentioned within the valuation report this will also need to be referred back to the valuer. |
| Intelligent Finance |
Yes, if only part of the title is a "flying" or "creeping" freehold. |
| Investec Bank plc | Accepted, subject to our prior written approval. See 1.11. Indemnity insurance may be required. |
| ITL Mortgages |
Yes - subject to the flying freehold being no more than 25% of the floor area |
| JPMorgan Chase Bank, N.A. | No. |
| Kensington Mortgage Company Ltd | Refer to Kensington |
| Kent Reliance (a trading name of OneSavings Bank plc) | Yes - We can consider flying freeholds provided the percentage thereof does not exceed 10% of the total area. The valuer must comment and confirm total percentage. |
| Keystone Property Finance | A property with an element of less than 15% may be considered on referral subject to confirmation that there are adequate rights of shelter and support plus arrangements for maintenance and repair |
| Landbay Partners Limited | Yes. Subject to the flying freehold being no more than 15% of the property and to the property, including the flying freehold, being approved by us. |
| Landmark Mortgages Limited |
Not normally acceptable. Small areas of less than 20% of total floor area may be considered subject to confirmation that adequate rights of support and mutually enforceable repairing covenants exist. Refer to: New Mortgage Completions Landmark Mortgages PO Box 656 Durham DH1 9LY Tel - 0330 159 7152 |
| Leeds Building Society |
Yes, up to a maximum of 15% of the property. If the flying freehold is over 15% please refer to the Mortgage Lending Department as per 1.11a. If the Society proceeds where the property is subject to a flying freehold, you must ensure Part 1, paragraph 5.7.2 of the handbook is complied with. |
| Legal & General Home Finance Ltd | Yes where the flying or creeping freehold is less than 15% of the overall floor space. You must check to ensure suitable rights of support, access and maintenance are in place. Where there is a flying or creeping freehold and this is not mentioned in the valuation report, you must refer it to us. |
| LendInvest | Yes, provided extent of the security affected is no more than 15% of the property. |
| LiveMore Capital | Yes providing the proportion of the security affected is no more that 15% of the plot size |
| Lloyds Bank plc pre fixed 20/40 | Yes, if only part of the title is a "flying" or "creeping" freehold. |
| Lloyds Bank plc pre fixed 50/30/77 |
Yes, if 5.6.2 is complied with. |
| Lloyds TSB Scotland plc |
Yes, if 5.6.2 is complied with |
| M&S Bank |
Yes, provided there are mutual rights of support, protection, repair and maintenance and entry for repair and maintenance and mutually enforceable covenants, usually including a Deed of Covenant, being entered into in identical form on each dealing with the property between the existing/other flat owners and the incoming purchaser. If a flying freehold is mentioned in the valuation report, we require you to check there are mutual rights of support and maintenance and mutually enforceable covenants and if these are not in place to arrange appropriate indemnity insurance. If the flying freehold is not mentioned within the valuation report this will also need to be referred back to the valuer. |
| Magellan Homeloans | Yes, providing the proportion of the security affected is no more than 20% and the requirements set out in paragraph 5.7.2 of Part 1 apply. Indemnity insurance may also be required. |
| Manchester Building Society | Yes, if only part of the title is a 'flying' freehold. |
| Market Harborough Building Society |
Please contact us if you have a flying freehold situation ? see 1.7 for contact details. |
| Masthaven Bank | Yes, provided the flying freehold is no more than 10% of the total floor area of the property. |
| Metro Bank plc | Yes however the flying freehold must be less than 20% of the floor area and the surveyor states that the security is suitable in the valuation report. |
| ModaMortgages |
Yes, flying freeholds are acceptable provided the percentage does not exceed 15% of the total area. The valuer must comment and confirm total percentage. Please check for any offer conditions related to flying freeholds. |
| Molo Finance | Yes, provided extent of the security affected is no more than 15% of the property. |
| Monmouthshire Building Society | Yes but each case to be considered individually. Refer to Lending Operations Department |
| Mortgage Agency Services | Yes, provided extent of the security affected is no more than 15% of the property |
| Mortgage Express | Yes - provided not more than 25% of the floor area is affected |
| Mortgage Express No 2 | |
| MPowered Mortgages | A property containing any element of flying freehold must be reported to contact point, 1.11. before we can confirm we are able to proceed. |
| National Counties Building Society | Yes, provided the requirements of para 5.7.2 of Part 1 of the UK Finance Mortgage Lenders Handbook are satisfied. |
| National Westminster Bank plc |
Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| Nationwide Building Society | Yes, where only part of the subject property is affected. There is no requirement to report these flying freeholds to us. No, where the whole of the subject property is affected (100%). We will not require site of the plan. |
| Nedbank Private Wealth Ltd | You must refer to us |
| New Street Mortgages |
No, unless the flying freehold represents 10% or less of the total floor area |
| NRAM Ltd | Not normally acceptable. Small areas of less than 20% of total floor area may be considered subject to confirmation that adequate rights of support and mutually enforceable repairing covenants exist. Refer to 1.11a. |
| Paragon Buy to Let Mortgages | No, but we may be prepared to lend if a small or immaterial part of the property comprises or is affected by a flying freehold such as an alleyway between two terraced properties, which may be common in some parts of England and Wales. |
| Paragon Residential Owner-Occupied Mortgages | No, but we may be prepared to lend if a small area (ie not exceeding 10%) of the property comprises, or is affected by a flying freehold such as over an entry or alleyway between two terraced properties, which may be common in some parts of England and Wales. |
| Paratus AMC Ltd |
Yes, if only part of the title is "flying" or "creeping" freehold, and you are satisfied that the arrangements made in respect of it render the title good and marketable. Indemnity insurance may be considered on a case by case basis. |
| Parity Trust | No |
| Pepper Money | Flying freeholds will only be considered where up to 20% of the total property area is affected. This will be subject to conveyancer or solicitor confirmation that adequate rights of support and access to the property exist. |
| Pepper Money (PUK) | Flying freeholds will only be considered where up to 20% of the total property area is affected. This will be subject to conveyancer or solicitor confirmation that adequate rights of support and access to the property exist. |
| Perenna | Yes, providing the element of flying freehold does not exceed 20% and subject to confirmation that adequate rights of support and mutually enforceable repairing covenants exist. |
| Platform (a trading name of The Co-operative Bank p.l.c.) | Yes, Provided extent of the security affected is no more than 15% of the property. |
| Precise Mortgages (Charter Court Financial Services Ltd) |
Yes - We can consider flying freeholds provided the percentage thereof does not exceed 10% of the total area. The valuer must comment and confirm total percentage. |
| Principality Building Society | Yes, provided the flying freehold is no more than 25% of the total floor area of the property |
| Reliance Bank Ltd | Yes |
| Rooftop Mortgages Ltd | No. |
| Saffron Building Society | Yes - providing the element of flying freehold does not exceed 15%, the valuer has noted it in the valuation report and subject to the requirements set out in paragraph 5.7.2 of Part 1 of the Handbook |
| Sainsbury's Bank | A flying freehold will only be acceptable to us where less than 25% of the whole of the property being mortgaged is affected. |
| Santander UK plc | Yes but we will not accept indemnity insurance if the requirements of 5.7.2 are not met. |
| Scottish Building Society | Yes, up to a maximum of 20% of the property. If the flying freehold is over 20% please refer to the Head Office Mortgage Department as per 1.11a. If the Society proceeds where the property is subject to a flying freehold, you must ensure that the requirements in paragraph 5.7.2 of Part 1 of this handbook are complied with. |
| Scottish Widows Bank | Yes,if less than 25% of the whole and para 5.6.2 bullet one is complied with. |
| Secure Trust Bank PLC | Yes, providing the proportion of the security affected is no more than 25% and the requirements set out in paragraph 5.7.2 of Part 1 apply. |
| Skipton Building Society | Yes, subject to prior approval. If the Offer Conditions do not refer to a flying freehold please report to the Completions Team via LMS Secure Link. |
| St James Place Bank | Yes, if only part of the title is a "flying" or "creeping" freehold. |
| State Bank of India UK | Yes. Subject to the flying freehold being no more than 15% of the property and to the property, including the flying freehold, being approved by us. |
| Swansea Building Society | No |
| The Mortgage Business |
Yes, if only part of the title is a "flying" or "creeping" freehold. |
| The Mortgage Lender Limited |
Yes, subject to the area of flying freehold not exceeding; 10% of the floor area.(for residential (owner occupied) mortgages) 15% of the floor area. (for BTL mortgages) |
| The Mortgage Works |
Yes, where only part of the subject property is affected (there is no requirement to report these flying freehold to us). No, not where the whole of the subject property is affected (100%). We will not require sight of the plan. |
| The Royal Bank of Scotland plc | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| The Royal Bank of Scotland plc Direct Line Mortgages | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| The Royal Bank of Scotland plc Direct Line One | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| The Royal Bank of Scotland plc First Active | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| The Royal Bank of Scotland plc Natwest one Account | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| The Royal Bank of Scotland plc One Account | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| The Royal Bank of Scotland plc Virgin One | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| The Tipton & Coseley Building Society | Refer individual case to Mortgage Department, |
| Together Personal Finance Limited | Yes. |
| Topaz Finance Ltd | No. You may refer, however, if the Security is adequate and you are able to satisfy 5.5.2 and provide indemnity insurance. |
| TSB Bank plc | Yes, if only part of the title is a ?flying? or ?creeping? freehold |
| Ulster Bank | Yes. Where it is possible to enforce positive covenants (e.g. a written agreement is in place to ensure maintenance, repair and insurance of the building and common parts are shared equitably amongst all residents). The maximum Loan to Value is restricted to 90%. |
| Vida Homeloans | Yes providing the flying freehold proportion of the security affected is no more than 25% of the property and any of the requirements in paragraph 5.7.1b of Part 2 (where applicable) and paragraph 5.7.2 of Part 1 are satisfied. |
| Virgin Money | We will lend where the flying freehold part is less than 15% of the total floor area of the property. |
| Whistletree (a trading name of TSB Bank plc) | Not normally acceptable. Small areas of less than 20% of total floor area may be considered subject to confirmation that adequate rights of support and mutually enforceable repairing covenants exist. Refer to New Mortgage Completions, other details as 1.11a. |
| Yorkshire Bank Home Loans Ltd |
Yes,provided there is a deed of covenant or an indemnity policy in place to cover potential liability for repairs/renovations.The indemnity policy must incorporate:-Covering the Bank as mortgagee and any successors in title.Sum assured to be at the amount of the mortgage. Policy to include an escalator clause increasing the sum assured by 5% each year. |
| Yorkshire Building Society | Yes, provided only part of the property is affected by a flying freehold and you confirm that the title to the property incorporates (or will incorporate prior to completion of the Society's mortgage) satisfactory and enforceable rights of support, shelter and repair together with appropriate rights of entry. |
| Zephyr Homeloans | Yes for Zephyr: Flying freehold may be considered where less than 15% of the property extends over another and the Valuer states that saleability is unaffected. If greater than 15% flying freehold the application should be declined (same rule applies to creeping freeholds) |