Answers for England and Wales

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Question: 5.8.1. Does the lender accept security which comprises a building converted into not more than four flats where the borrower occupies one of those flats and the borrower or another flat owner also owns the freehold of the building and the other flats are subject to long leases?

Lender Answer
Accord Buy to Let Yes, subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding the management and maintenance of the building comprising the flats. We require our security to be the leasehold flat to be owned by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title. We will only lend on one flat in a building of this nature.
Accord Mortgages Ltd Yes, subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding the management and maintenance of the building comprising the flats. We require our security to be the leasehold flat to be owned by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title. We will only lend on one flat in a building of this nature.
Adam & Company Yes
Adam & Company International Yes


Ahli United Bank (UK) plc Please refer to New Business/Underwriting - Residential Mortgage Department
Aldermore Bank PLC Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a report has not been provided, please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation.

You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
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. Please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building. We will require a first legal charge over the freehold and leasehold title where an applicant holds any proprietary interest in the freehold title.
Atom Bank plc No.
Aviva Equity Release UK Ltd Yes.
Bank of China Yes, providing all flats in the block are subject to long leases, including the flat the borrower is to own and/or occupy but if the Borrower is the sole Freeholder, we also require a charge over the Freehold title.
Bank of Ireland (UK) plc Yes, we require a first charge on the freehold if it is wholly owned by the borrower, even if the principal security is a leasehold title.
Bank of Ireland as Bank of Ireland Mortgages Yes. We require a charge on the freehold if it is wholly owned by the borrower, even if the principal security is a leasehold title.
Bank of Scotland Beginning A Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Bank of Scotland Beginning O Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical insepction report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Bank of Scotland Private Banking  
Barclays Bank UK PLC No
Barnsley Building Soc, a trading name Yorkshire Building Soc Yes, subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding the management and maintenance of the building comprising the flats. We require our security to be the leasehold flat to be owned by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title. We will only lend on one flat in a building of this nature.
Birmingham Bank No
Birmingham Midshires Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Bluestone Mortgages Yes provided it is only a share of freehold. We will not lend where the applicant is a leaseholder and majority owner of the freehold.
Bradford & Bingley Limited No
Britannia, a trading name of The Co-operative Bank plc Yes. The borrower must have a leasehold interest in the flat they are to occupy. If there is no lease please contact New Business Completions Britannia House Leek Staffordshire Moorlands ST13 5RG or New Business Completions DX 16351 Leek.
Buckinghamshire Building Society Yes provided the borrower has a leasehold interest in the flat that they are to occupy. If there is no lease please refer to:
Buckinghamshire Building Society, High Street,
Chalfont St Giles, Bucks,
HP8 4QB
e-mail mortgages@bucksbs.co.uk
Tel: 01494 879500
Fax: 01494 877259
Chelsea Building Society (a trading name of Yorkshire BS) Yes, subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding the management and maintenance of the building comprising the flats. We require our security to be the leasehold flat to be owned by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title. We will only lend on one flat in a building of this nature.
CHL Mortgages No.
If the valuer has not referred to the title arrangements in the valuation report, or if a report has not been provided, please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation.
You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
Clydesdale Bank plc Yes.
Co-operative Bank plc Yes. We require our security to be the leasehold flat to be occupied by the borrower(s) and for that security to have a separate leasehold title. Where the borrower(s) also owns the freehold, then our security should include the freehold title.
Coutts Yes
Coutts Finance Co Yes
Coventry Building Society Yes.
Cynergy Bank No.
Danske Bank Yes, providing all flats in the block are subject to long leases and the borrower is not the sole freeholder.

We require our security to be the leasehold flat to be occupied by the borrower, and for that security to have separate leasehold title that is UK Finance Lenders' Handbook compliant and meets our requirements.

If the valuer has not referred to the title arrangements in the valuation report, or if a report has not been provided, please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.

Where the borrower owns a share of the freehold or superior title with others, a suitable form of trust deed or other suitable arrangement must be entered into prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold/superior title and leasehold titles to be transferred simultaneously if the lender exercises its power of sale.
Darlington Building Society No
DB UK Bank Ltd Yes
Dudley Building Society Yes.
Ecology Building Society Yes
Family Building Soc (a trading name of National Counties BS) Yes.
First Direct Yes
Fleet Mortgages No
Foundation Home Loans Yes. We require a first legal charge over our security and for that security to have a separate leasehold title that is UK Finance Lenders' Handbook compliant and meets our requirements. Where the borrower also owns the freehold or a superior title, then we must also have a first legal charge over that freehold or superior leasehold title. Where the borrower owns a share of the freehold or superior title with others, a suitable form of trust deed or other suitable arrangement must be entered into prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold/superior title and leasehold titles to be transferred simultaneously if the lender exercises its power of sale. Please report if the borrower also owns any other flat in the building.
Furness Building Society Yes
GE Money Home Lending Ltd GE Money Home Lending has withdrawn from the UK mortgage market.
Gen H Yes, we will accept a share of Freehold (when a borrower owns the leasehold title for the flat and a share of the ownership in the freehold title for the building/development), provided that the Freehold is split equally between the dwellings in the building.

All requirements at 5.8.2 - 5.8.4 must be satisfied (where appropriate) and a clear certificate of title must be submitted by our conveyancer.
Godiva Mortgages Ltd Yes.
Habito Yes
Halifax Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property

Halifax Loans Ltd Yes, if the valuer has not referred to the title arrangements in the valuation report, or if a physical insepction report has not been carried out, you must report the arrangements to us so that we can ensure there are no adverse effects upon the valuation.
Hampden & Co. plc Yes
Handelsbanken Yes. We require a charge on the freehold if it is wholly owned by the borrower, even if the principal security is a leasehold title. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to the Branch office instructing you so that we can ensure that there are no adverse effects upon the valuation.
Harpenden Building Society Yes we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title.
Hinckley and Rugby Building Society Principal Office, Completions Team
Hodge Yes - Subject to the conveyancer confirming that each lease contains adequate covenants regarding maintenance of the building the flat is part of.

You should also bring to our attention any interest the borrower has in any other flats in the building
Hodge Equity Release Yes - Subject to the conveyancer confirming that each lease contains adequate covenants regarding maintenance of the building the flat is part of.
You should also bring to our attention any interest the borrower has in any other flats in the building
Holmesdale Building Society See above.
HSBC UK Bank plc Yes
Intelligent Finance Yes
Investec Bank plc Only in certain circumstances. Please refer individual cases. See 1.11
ITL Mortgages Yes
JPMorgan Chase Bank, N.A. No.
Kensington Mortgage Company Ltd Yes. Please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building. We will require a first legal charge over the freehold and leasehold title where an applicant holds any proprietary interest in the freehold title.
Kent Reliance (a trading name of OneSavings Bank plc) Yes subject to the freehold being charged to the Bank if the borrower is the freeholder or to completion of a stock transfer form in escrow where the borrower will be a shareholder in a company owning the freehold. If the freehold is owned, in full or in part, by an entity connected to the borrower (eg a family member of the borrower, or one of its directors, or a company of which the borrower, or one of its directors, is connected to the freeholder) we will require an additional Charge of the freehold.
Keystone Property Finance Please refer to our instructions, or contact Completions Department
Landbay Partners Limited We will not lend on a property which is occupied by the borrower, in that our loan is for a buy-to-let property. However, we will lend if the borrower has a lease of one of the flats and also owns the freehold of the building and the other flats are subject to long leases.
Landmark Mortgages Limited We have no objection to this kind of security. However, where the borrower owns the freehold we will require a charge over that title also.
Leeds Building Society Yes. We require the security to be over one leasehold flat and where the borrower also owns the freehold then our security should also include the freehold title.
Legal & General Home Finance Ltd Yes.
LendInvest BTL Loans: We will not lend on a property in which the applicant resides

Regulated Bridge Loans: Yes

Regulated Residential Lending: Yes, in certain circumstances. However, the full details must be referred to us before completion.
LiveMore Capital Yes
Lloyds Bank plc pre fixed 20/40 Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Lloyds Bank plc pre fixed 50/30/77 Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Lloyds TSB Scotland plc Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
M&S Bank No
Magellan Homeloans Yes we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title. If the valuer has not referred to the title arrangements in the valuation report, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation
Manchester Building Society Yes, provided the requirements of the Handbook are complied with.
Market Harborough Building Society Yes
Masthaven Bank No.
Metro Bank plc No.
ModaMortgages No, for properties comprising of less than four flats we will not consider scenarios where the borrower is also a resident in the same block.
Molo Finance No
Monmouthshire Building Society Yes but you must report the arrangements to us so that we can ensure that there are no adverse effects on valuation.
Mortgage Agency Services Yes
Mortgage Express No
Mortgage Express No 2  
MPowered Mortgages Please refer full details to the Completions Department as per 1.11a
National Counties Building Society Yes.
National Westminster Bank plc Yes
Nationwide Building Society Yes
Nedbank Private Wealth Ltd You must refer to us.
New Street Mortgages Yes. Please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
NRAM Ltd We have no objection to this kind of security. However, where the borrower owns the freehold we will require a charge over that title also.
Paragon Buy to Let Mortgages Please see our Supplemental Instructions and Guidance Notes.
Paragon Residential Owner-Occupied Mortgages Yes, we require a first legal charge over the leasehold flat to be occupied by the Borrower and for that security to have a separate leasehold title that is UK Finance Lenders' Handbook compliant (and meets our requirements). Where the Borrower also owns the freehold or a superior title, then we must also have a first legal charge over that freehold or superior leasehold title. Where the Borrower owns a share of the freehold or superior title with others, a suitable form of trust deed or other suitable arrangement must be entered into prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold/superior title and leasehold titles to be transferred simultaneously if the lender exercises its power of sale. Please also report if the Borrower also owns any other flat in the building.
Paratus AMC Ltd Yes. If the valuer has not referred to the title arrangements in the valuation report you must report the arrangements to us so we can ensure the valuation is not affected. We require a first legal charge over our security and for that security to have a separate leasehold title that is UK Finance Lenders' Handbook compliant and meets our requirements. Where the Borrower also owns the freehold or a superior title, then we must also have a first legal charge over that freehold or superior leasehold title. Where the Borrower owns a share of the freehold or superior title with others, a suitable form of trust deed or other suitable arrangement must be entered into prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold/superior title and leasehold titles to be transferred simultaneously if the lender exercises its power of sale. Please report if the Borrower also owns any other flat in the building.
Parity Trust Refer to 1.7
Pepper Money Yes- subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding maintenance of the building of which the flats form part of. Any interest the borrower has in any other flats in the building should also be brought to our attention. If the borrower owns the freehold of the building we will also require a charge over that freehold title. If only a share of the freehold is owned by the borrower a suitable form of trust deed must be entered into on or prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold to be transferred simultaneously with the leasehold interest if a mortgagee exercises its power of sale.
Pepper Money (PUK) Yes- subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding maintenance of the building of which the flats form part of. Any interest the borrower has in any other flats in the building should also be brought to our attention. If the borrower owns the freehold of the building we will also require a charge over that freehold title. If only a share of the freehold is owned by the borrower a suitable form of trust deed must be entered into on or prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold to be transferred simultaneously with the leasehold interest if a mortgagee exercises its power of sale.
Perenna No
Platform (a trading name of The Co-operative Bank p.l.c.) Yes.
Precise Mortgages (Charter Court Financial Services Ltd) Yes subject to the freehold being charged to the Bank if the borrower is the freeholder or to completion of a stock transfer form in escrow where the borrower will be a shareholder in a company owning the freehold. If the freehold is owned, in full or in part, by an entity connected to the borrower (eg a family member of the borrower, or one of its directors, or a company of which the borrower, or one of its directors, is connected to the freeholder) we will require an additional Charge of the freehold.
Principality Building Society Yes - Subject to the conveyancer confirming that each lease contains adequate covenants regarding maintenance of the building the flat is part of.

You should also bring to our attention any interest the borrower has in any other flats in the building.
Reliance Bank Ltd Yes
Rooftop Mortgages Ltd No.
Saffron Building Society Yes.
Sainsbury's Bank No, with the exception of where the borrower occupies one of those flats and also owns the freehold.
Santander UK plc Yes.
Scottish Building Society Yes. We require the security to be over one leasehold flat and where the borrower also owns the freehold then our security should also include the freehold title.
Scottish Widows Bank Yes.
Secure Trust Bank PLC Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a report has not been provided, please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation.

You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent buildings.
Skipton Building Society Yes,provided that a suitable form of Trust Deed is entered into on or before completion which contains provisions for the appropriate legal and beneficial interests in the freehold to be transferred simultaneously with the leasehold interest if a mortgagee exercises its power of sale.
St James Place Bank Yes.
State Bank of India UK Yes. Provided there are separate long leases, including a lease for the flat the borrower is mortgaging.

If Borrower also owns the freehold we will require a charge over that title also.

You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building
Swansea Building Society No
The Mortgage Business Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation.
The Mortgage Lender Limited No
The Mortgage Works Yes
The Royal Bank of Scotland plc Yes.
The Royal Bank of Scotland plc Direct Line Mortgages Yes.
The Royal Bank of Scotland plc Direct Line One Yes.
The Royal Bank of Scotland plc First Active Yes.
The Royal Bank of Scotland plc Natwest one Account Yes.
The Royal Bank of Scotland plc One Account Yes.
The Royal Bank of Scotland plc Virgin One Yes.
The Tipton & Coseley Building Society Yes.
Together Personal Finance Limited Yes.
Topaz Finance Ltd Yes.
TSB Bank plc We have no objection to this kind of security. However, where the borrower owns the freehold we will require a charge over that title also.
Ulster Bank Yes.
Vida Homeloans Yes. As 1.11a, Please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
Virgin Money We're happy to lend so long as all the titles owned/to be owned by the borrower are charged to us.
Whistletree (a trading name of TSB Bank plc) We have no objection to this kind of security. However, where the borrower owns the freehold we will require a charge over that title also
Yorkshire Bank Home Loans Ltd Yes.
Yorkshire Building Society Yes, subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding the management and maintenance of the building comprising the flats. We require our security to be the leasehold flat to be owned by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title. We will only lend on one flat in a building of this nature.
Zephyr Homeloans Yes.