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Question: 9.1. Does the lender need to be sent the indemnity insurance policy?
| Lender | Answer |
|---|---|
| Accord Buy to Let | No, but you must retain a copy on your file. |
| Accord Mortgages Ltd | No, but you must retain a copy on your file. |
| Adam & Company |
Yes, after completion. |
| Adam & Company International |
Yes, after completion. |
| Ahli United Bank (UK) plc | Yes |
| Aldermore Bank PLC |
No, borrowers to retain. Where you identify an issue that could be mitigated by the use of an insurance product, you should inform us of the issue and your recommendation as to the use of Indemnity Insurance. We will consider the case and inform you of our decision. We would only proceed if we were content that indemnity insurance was an acceptable solution (some issues, for example, might be such that they require referral back to the valuer |
| Allied Irish Bank (GB), a trading name of AIB Group (UK) | No. May be provided to the Borrower. |
| April Mortgages | No. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. The policy should be retained by the borrower and you should retain a copy on your file. |
| Atom Bank plc | Yes. This should be placed with the title deeds and sent to us with the title documents package. |
| Aviva Equity Release UK Ltd | Yes. |
| Bank of China | No, these are to be placed with the documents for the customer(s) own retention. You must ensure that the customer(s) are made aware of the importance of retaining these documents. |
| Bank of Ireland (UK) plc | Yes, to be placed with the title deeds after completion. |
| Bank of Ireland as Bank of Ireland Mortgages | Yes, to be placed with the title deeds after completion. |
| Bank of Scotland Beginning A |
No, please forward to the borrower. |
| Bank of Scotland Beginning O |
No, please forward to the borrower |
| Bank of Scotland Private Banking | |
| Barclays Bank UK PLC | Only after completion with the title deeds. It should not be sent to the bank before for us to comment upon. It is considered the conveyancers duty to make sure the policy complies with the requirements in 9.2 below. |
| Barnsley Building Soc, a trading name Yorkshire Building Soc | No, but you must retain a copy on your file. |
| Better HomeOwnership (Mortgages) | No |
| Birmingham Bank | Yes |
| Birmingham Midshires | No, please forward to the borrower. |
| Bluestone Mortgages | No, but please keep a copy with your file. |
| Bradford & Bingley Limited | No but we require you to record the policy number and company details in the appropriate section of the Certificate of Title. |
| Britannia, a trading name of The Co-operative Bank plc | No, include Insurance Company and Policy Number on Certificate of Title. Borrower to retain policy document. |
| Buckinghamshire Building Society | No |
| Chelsea Building Society (a trading name of Yorkshire BS) | No, but you must retain a copy on your file. |
| CHL Mortgages | Post-completion please provide us with details of the firm/scheme providing the warranty/policy and any policy/scheme reference number quoting our mortgage case reference number to completions@chlmortgages.co.uk. In all instances these should be retained on your file for review. |
| Clydesdale Bank plc | Yes, after completion. |
| Co-operative Bank plc | Yes, after completion. To be placed with the deeds. |
| Coutts | Yes, after completion. |
| Coutts Finance Co | Yes, after completion. |
| Coventry Building Society | No |
| Cynergy Bank | Yes. draft copy to be sent to us prior to completion. The policy should be sent with the title deeds and documents following conveyancing. |
| Danske Bank |
Yes, please place with the title deeds and return to: Danske Bank Mortgage Customer Support Team Personal Collateral Team Killeaton House 41 Mosside Road, Dunmurry Belfast, BT17 9HH DX 2015 NR BELFAST 2 |
| Darlington Building Society | No. Please include Insurance Company and Policy No on Certificate of Title. Borrower is to retain the policy document. |
| DB UK Bank Ltd | Yes |
| Dudley Building Society | Yes, after completion. |
| Ecology Building Society | Yes |
| Family Building Soc (a trading name of National Counties BS) | No, but the Provider's name and policy number must be stated on the Certificate of Title. The policy should be retained by the borrower. Please also keep a copy on your file. |
| First Direct |
Yes, on completion |
| Fleet Mortgages |
We accept indemnity insurance where the circumstances of the transaction, and your attention is drawn to part 1 paragraph 5.16, suggest that it is required in order to protect us against our security being set aside. In any such case you are expected to contact us, as set out in 1.11a, with your advice and recommendations on or before submitting the Certificate of Title. We would also ask that you remind the borrower that it is their responsibility to ensure that they have fully complied with any and all UK tax legislation which may be relevant to the transaction. In addition, where you identify any other issue that could be mitigated by the use of an insurance product, you should inform us of the issue and your recommendation as to the use of Indemnity Insurance. We will consider the case and inform you of our decision. We would only proceed if we were content that indemnity insurance was an acceptable solution (some issues, for example, might be such that they require referral back to the valuer). Where we agree to accept indemnity insurance we do not require a copy of the indemnity insurance policy. However, a copy should be passed to the borrowers (who should be reminded of the importance of retaining this document) and a copy retained on your file. You should also confirm if any insurance has or will be put in place when submitting the Certificate of Title and confirm why the insurance is required, the details of the insurance company and the policy number. Please note that, in any event, we only accept policies from reputable and premium providers such as Countrywide Legal Indemnities, First Title, Aviva and GCS etc. We also require any policy to cover any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable, of the mortgage and/or anyone entitled to exercise rights under the mortgage documents). For the avoidance of doubt, we do not accept “no search” insurance or insurance covering the lack of any mining search. Furthermore, we do not accept self-issued policies. |
| Foundation Home Loans |
No. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. The policy should be retained by the borrower and you should retain a copy on your file. |
| Furness Building Society |
Yes, with title deeds. |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Gen H | You must provide us with details of all indemnity insurance policies in existence or to be obtained in the Certificate of Title, but we do not require a copy of the indemnity insurance policy documents and you should forward to the borrower. |
| Godiva Mortgages Ltd | No |
| Habito | No |
| Halifax |
No, please forward to the borrower. |
| Halifax Loans Ltd |
No, please forward to the borrower. |
| Hampden & Co. plc | Please retain with the title deeds. |
| Handelsbanken | Yes, following completion. |
| Harpenden Building Society |
No |
| Hinckley and Rugby Building Society | Yes, after completion, with the Title Documents. |
| Hodge | No.- However you must provide full details of indemnity insurance in the Certificate of Title. Where more than one policy is in existence you must also provide us with full details of the additional policies. Please pass a copy to the borrowers for safe keeping and retain a copy for your file |
| Hodge Equity Release | No.- However you must provide full details of indemnity insurance in the Certificate of Title. Where more than one policy is in existence you must also provide us with full details of the additional policies. Please pass a copy to the borrowers for safe keeping and retain a copy for your file |
| Holmesdale Building Society | Yes, after completion. |
| HSBC UK Bank plc | Yes, on completion |
| Intelligent Finance |
No, please forward to the borrower. |
| Investec Bank plc | No, but you should retain this in the file of original deal documents that you hold for the Bank. |
| ITL Mortgages | No |
| JPMorgan Chase Bank, N.A. | Yes, place with deeds. |
| Kensington Mortgage Company Ltd | Yes. A copy is acceptable. To be forwarded to: Deeds Administration, Kensington Mortgage Company Ltd, PO Box 4760, Maidenhead, SL60 1HU following completion. |
| Kent Reliance (a trading name of OneSavings Bank plc) | Yes, upon or after Completion. |
| Keystone Property Finance |
No. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. We require the policy to cover any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable, of the mortgage and/or anyone entitled to exercise rights under the mortgage document(s). However, Indemnity insurance may be required on a case by case basis for Possessory title cases, please contact 1.11a |
| Landbay Partners Limited | No. In the event that we agree to indemnity cover you should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. |
| Landmark Mortgages Limited |
Yes, after completion with the Title Deeds. |
| Leeds Building Society | No, but please retain a copy on your file. |
| Legal & General Home Finance Ltd | Yes, after completion. |
| LendInvest |
We accept indemnity insurance where the circumstances of the transaction, and your attention is drawn to part 1 paragraph 5.16, suggest that it is required in order to protect us against our security being set aside. In any such case you are expected to contact us, as set out in 1.11a, with your advice and recommendations on or before submitting the Certificate of Title. We would also ask that you remind the borrower that it is their responsibility to ensure that they have fully complied with any and all UK tax legislation which may be relevant to the transaction. In addition, where you identify any other issue that could be mitigated by the use of an insurance product, you should inform us of the issue and your recommendation as to the use of Indemnity Insurance. We will consider the case and inform you of our decision. We would only proceed if we were content that indemnity insurance was an acceptable solution (some issues, for example, might be such that they require referral back to the valuer). Where we agree to accept indemnity insurance we do not require a copy of the indemnity insurance policy. However, a copy should be passed to the borrowers (who should be reminded of the importance of retaining this document) and a copy retained on your file. You should also confirm if any insurance has or will be put in place when submitting the Certificate of Title and confirm why the insurance is required, the details of the insurance company and the policy number. Please note that, in any event, we only accept policies from reputable and premium providers. We also require any policy to cover any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable, of the mortgage and/or anyone entitled to exercise rights under the mortgage documents). We do not accept self-issued policies. |
| LiveMore Capital |
Yes. Please send to the address shown in Section 1.11a |
| Lloyds Bank plc pre fixed 20/40 | The schedule should be sent to us after completion. |
| Lloyds Bank plc pre fixed 50/30/77 |
Yes, schedule only with the deeds. |
| Lloyds TSB Scotland plc | The schedule only after completion. |
| M&S Bank | Yes on completion |
| Magellan Homeloans |
where you identify an issue that you believe could be mitigated by the use of an insurance product, you should inform us of this and ensure it meets the requirements under 9.2 Where indemnity insurance is used we do not require a copy of the indemnity insurance policy. However, a copy should be passed to the borrowers (who should be reminded of the importance of retaining this document) and a copy retained on your file. You should also confirm the details of the insurance company and the policy number. |
| Manchester Building Society | Yes, after completion with the Title deeds. |
| Market Harborough Building Society |
Yes |
| Masthaven Bank | No, but please keep a copy with your file. |
| Metro Bank plc | No - to be held on file with the title deeds and documents after completion. |
| ModaMortgages |
No, you should however submit details of the policy with the Certificate of Title. You must ensure that the customer(s) are made aware of the importance of retaining the document. |
| Molo Finance | No, but you must retain the copy on your files to provide if we request it. |
| Monmouthshire Building Society |
Yes - please send the orginal to: Mortgage Servicing Department Monmouthshire Building Society Monmouthshire House John Frost Square Newport NP20 1PX |
| Mortgage Agency Services |
Yes, with original mortgage deed, associated documents and papers |
| Mortgage Express | No but we require you to record the policy number and company details in the appropriate section of the Certificate of Title. |
| Mortgage Express No 2 | |
| MPowered Mortgages |
No. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. We require the policy to cover any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable, of the mortgage and/or anyone entitled to exercise rights under the mortgage document(s). We do not accept self -issue policies. We do not allow Possessory titles therefore we will not accept an indemnity for this. |
| National Counties Building Society | No, but the Provider's name and policy number must be stated on the Certificate of Title. The policy should be retained by the borrower. Please also keep a copy on your file. |
| National Westminster Bank plc | No.- However you must provide full details of indemnity insurance in the Certificate of Title. Where more than one policy is in existence you must also provide us with full details of the additional policies. |
| Nationwide Building Society |
No include Insurance Company and Policy No. on Certificate of Title Borrower to retain policy document Please note that we do not require an indemnity policy to be taken out when the purchaser has received a cash gift which forms part or all of their deposit. |
| Nedbank Private Wealth Ltd | Any policy must be sent to us after completion. |
| New Street Mortgages |
Yes, a copy should be sent to New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW and the original forwarded to the borrower |
| NRAM Ltd | Yes, after completion with the Title deeds. |
| Paragon Buy to Let Mortgages |
Yes, include with the deeds. |
| Paragon Residential Owner-Occupied Mortgages | Yes, include with the deeds. |
| Paratus AMC Ltd | No. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. The policy should be retained by the borrower and you should retain a copy on your file. |
| Parity Trust | Yes |
| Pepper Money | Yes, please send to Pepper Money, Servicing Department Harman House, 1 George Street, Uxbridge, Middlesex, UB8 1QQ |
| Pepper Money (PUK) | Yes, please send to Pepper Money, Servicing Department Harman House, 1 George Street, Uxbridge, Middlesex, UB8 1QQ |
| Perenna | No, however we require you to keep a copy with your mortgage file in all cases. |
| Platform (a trading name of The Co-operative Bank p.l.c.) | Yes, placed with the deeds. |
| Precise Mortgages (Charter Court Financial Services Ltd) |
No - You should however submit details of the policy with the Certificate of Title. You must ensure that the customer(s) are made aware of the importance of retaining this document. |
| Principality Building Society | Yes or at the very least the Insurance Company name and Policy number is to be noted on the Certificate of Title. |
| Reliance Bank Ltd | Yes |
| Rooftop Mortgages Ltd | Yes. Please place with the title deeds. |
| Saffron Building Society | Yes - certified copy after completion with the Deeds |
| Sainsbury's Bank | Yes. This should be sent to us after completion as detailed in 14.2.1 and 14.2.2. |
| Santander UK plc | No. Please provide only the name of the insurer, the policy number and the type of policy. |
| Scottish Building Society | This should be placed with the Title Deeds and a copy sent to the Society. |
| Scottish Widows Bank | Yes, after completion. |
| Secure Trust Bank PLC | No, borrowers to retain. You must however include the Insurance Company and Policy number on the Certificate of Title. |
| Skipton Building Society |
No, but please note we require you to report to the Completions Team via LMS Secure Link if the policy will not cover our successors in title. For Local Authority search indemnity insurance on purchase applications, we request a copy of the policy for our records. Please note you will be responsible for assessing the suitability of the policy. |
| St James Place Bank | No, please forward to the borrower. |
| State Bank of India UK | Yes ? please place with the Title Deeds. |
| Swansea Building Society | Yes |
| The Mortgage Business |
No, please forward to the borrower. |
| The Mortgage Lender Limited |
We accept indemnity insurance where the circumstances of the transaction suggest that it is required in order to protect us against our security being set aside. In any such case you are expected to contact us, as set out in 1.11a, with your advice and recommendations on or before submitting the Certificate of Title. We would also ask that you remind the borrower that it is their responsibility to ensure that they have fully complied with any and all UK tax legislation which may be relevant to the transaction. In addition, where you identify any other issue that could be mitigated by the use of an insurance product, you should inform us of the issue and your recommendation as to the use of Indemnity Insurance. We will consider the case and inform you of our decision. We would only proceed if we were content that indemnity insurance was an acceptable solution (some issues, for example, might be such that they require referral back to the valuer). Where we agree to accept indemnity insurance we do not require a copy of the indemnity insurance policy. However, a copy should be passed to the borrowers (who should be reminded of the importance of retaining this document) and a copy retained on your file. You should also confirm if any insurance has or will be put in place when submitting the Certificate of Title and confirm why the insurance is required, the details of the insurance company and the policy number. Please note that, in any event, we only accept policies from reputable and premium providers. We also require any policy to cover any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable, of the mortgage and/or anyone entitled to exercise rights under the mortgage documents). We do not accept self-issued policies. |
| The Mortgage Works |
No, confirmation must be given that you are holding the actual policy on producing the Certificate of Title. We do not require an indemnity policy to be taken out when the purchaser has received a cash gift which forms part or all of their deposit. |
| The Royal Bank of Scotland plc | No. However, you must provide full details of indemnity insurance in the Certificate of Title. Where more than one policy is in existence you must also provide us with full details of the additional policies. |
| The Royal Bank of Scotland plc Direct Line Mortgages | Yes, after completion. |
| The Royal Bank of Scotland plc Direct Line One | Yes, after completion. |
| The Royal Bank of Scotland plc First Active |
If our letter of instruction to you is issued before 22 June 2009 ? Yes - after completion. If our letter of instruction to you is issued on or after 22 June 2009 ? No. However you must provide full details of indemnity insurance in the Certificate of Title. Where more than one policy is in existence you must also provide us with full details of the additional policies. |
| The Royal Bank of Scotland plc Natwest one Account | No, however, required after completion for cases instructed prior to 5/12/2011. |
| The Royal Bank of Scotland plc One Account |
No, however, required after completion for cases instructed prior to 5/12/2011. |
| The Royal Bank of Scotland plc Virgin One |
No, however, required after completion for cases instructed prior to 5/12/2011. |
| The Tipton & Coseley Building Society | Yes. |
| Together Personal Finance Limited | No - however, Solicitors to provide details of Insurer including address, policy number, and indemnity limit. |
| Topaz Finance Ltd | No but please keep a copy of it on your file. |
| TSB Bank plc | The schedule only after completion. |
| Ulster Bank | Yes, after completion. |
| Vida Homeloans |
Yes, copy of the indemnity insurance policy provided before completion as 1.11a, and after completon to: Mortgage Services, Vida Homeloans, Gateway House, Gargrave Road, Skipton, North Yorkshire, BD23 2HL Where you identify any issue that could be mitigated by the use of indemnity insurance, you should inform us of the issue and your recommendation as to the use of indemnity insurance in mitigating this issue. We will consider the case and inform you of our decision. Where we agree to accept indemnity insurance, we require a copy of the indemnity insurance policy after completion. You should also confirm if any insurance has or will be put in place when submitting the Certificate of Title and confirm why the insurance is required, the details of the insurance company and the policy number. Please note that, in any event, we only accept policies from reputable and premium providers. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. We require the policy to cover the borrower(s), any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable) of the mortgage and/or anyone entitled to exercise rights under the mortgage |
| Virgin Money | The documents we need post-completion are listed in our current Deeds Schedule. |
| Whistletree (a trading name of TSB Bank plc) | Yes, after completion with the Title Deeds. |
| Yorkshire Bank Home Loans Ltd | Yes, after completion. |
| Yorkshire Building Society | No, but you must retain a copy on your file. |
| Zephyr Homeloans | No but please keep a copy of it on your file. |