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Question: 16.3.1. Does the lender have a standard form of transfer/deed of covenant?
| Lender | Answer |
|---|---|
| Accord Buy to Let |
As to a standard form of transfer - no. As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage. We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request. |
| Accord Mortgages Ltd |
We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request. As to a standard form of transfer - no. As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage. |
| Adam & Company |
No, to be drafted by you and sent to us for approval. |
| Adam & Company International |
No, to be drafted by you and sent to us for approval. |
| Ahli United Bank (UK) plc | No |
| Aldermore Bank PLC | No. |
| Allied Irish Bank (GB), a trading name of AIB Group (UK) | No |
| April Mortgages | No. We will require you to draft an appropriate form of transfer/deed of covenant. You must ensure that our interest is sufficiently protected. |
| Atom Bank plc | No. You must ensure that the Bank’s interest is sufficiently protected in the transfer, including the retention of any relevant entries on the title. |
| Aviva Equity Release UK Ltd | No. |
| Bank of China | No to be drafted by you and sent to us for approval. |
| Bank of Ireland (UK) plc | No. |
| Bank of Ireland as Bank of Ireland Mortgages | No. |
| Bank of Scotland Beginning A |
Transfer of equity - NO Deed of Covenant - YES (our form L1) request from Customer Service Centre PO Box 1HA, Newcastle Upon Tyne, NE99 1HA tel no. 0345 8500842 option 1. |
| Bank of Scotland Beginning O | No |
| Bank of Scotland Private Banking | |
| Barclays Bank UK PLC | No. You must ensure that the Bank's interest is sufficiently protected in the transfer, including the retention of any relevant entries on the title |
| Barnsley Building Soc, a trading name Yorkshire Building Soc | We will not be a party to any transfer deed, but where appropriate will issue a separate form of release on request. As to a standard form of transfer - no. As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage. |
| Better HomeOwnership (Mortgages) | No |
| Birmingham Bank | No |
| Birmingham Midshires |
Yes, copies are provided with our mortgage instructions. You may however engross your own if appropriate provided that it safeguards our interests. |
| Bluestone Mortgages | No. |
| Bradford & Bingley Limited | No. Covenant by new borrower(s) to be inserted in Form TR1 or AS1 as set out in paragraph 16.3.4. |
| Britannia, a trading name of The Co-operative Bank plc | No |
| Buckinghamshire Building Society | No |
| Chelsea Building Society (a trading name of Yorkshire BS) |
We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request. As to a standard form of transfer - no. As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage. |
| CHL Mortgages | No |
| Clydesdale Bank plc | No. |
| Co-operative Bank plc | No. |
| Coutts | No, to be drafted by you and sent to us for approval. |
| Coutts Finance Co | No, to be drafted by you and sent to us for approval. |
| Coventry Building Society | No |
| Cynergy Bank | No. |
| Danske Bank | No. You must ensure that the Bank's interest is sufficiently protected in the transfer, including the retention of any relevant entries on the title. |
| Darlington Building Society | No. |
| DB UK Bank Ltd | No |
| Dudley Building Society | No |
| Ecology Building Society | No |
| Family Building Soc (a trading name of National Counties BS) | No. |
| First Direct |
Instruction: Where you are instructed to act on behalf of the Bank on a transfer of equity, you will be notified by email of the instruction by us. The instruction will include a copy of the mortgage offer addressed to the borrower, you will not normally receive a mortgage offer addressed to you. Standard Documents: to download the legal document templates and our Mortgage Lending Instructions & Guidance Notes for England & Wales, Scotland and Northern Ireland (which contains additional information on our requirements) visit Legal instructions for moving home as www.firstdirect.com/legal-instructions. Requirements: If you are unsure as to the changes required, please contact us per 1.11a You are required to ensure a new mortgage deed is signed for the transfer of equity and to register a new first charge by way of legal mortgage over the property on behalf of HSBC UK Bank plc trading as first direct. The bank will not agree to a transfer of equity subject to our existing charge and as such, will not be a signatory to the transfer deed. You must not send us a copy of the transfer deed, which should be signed by the transferors and transferees only. |
| Fleet Mortgages |
No. The terms of our mortgage advances do not allow for transfers of equity. |
| Foundation Home Loans |
No. We require you to draft an appropriate form of transfer/deed of covenant as may be necessary. You must ensure that our interest is sufficiently protected. |
| Furness Building Society | No |
| GE Money Home Lending Ltd | No |
| Gen H | No. |
| Godiva Mortgages Ltd | No. |
| Habito | No. You must ensure that our interest is sufficiently protected in the transfer, including the retention of any relevant entries on the title |
| Halifax |
Transfer of equity - no. Deed of covenant - yes (our form L1), request from Customer Service Centre. |
| Halifax Loans Ltd |
Transfer of equity - no Deed of covenant - yes(our formL1), request from Halifax Loans Limited, Trinity Road, Halifax, HX1 2RG |
| Hampden & Co. plc | No. To be drafted by you and sent to us for approval. |
| Handelsbanken | No. |
| Harpenden Building Society | No |
| Hinckley and Rugby Building Society | No. |
| Hodge | No, to be drafted by you and sent to us for approval |
| Hodge Equity Release | No, to be drafted by you and sent to us for approval |
| Holmesdale Building Society | No. |
| HSBC UK Bank plc |
Instruction: Where you are instructed to act on behalf of the Bank on a transfer of equity, you will be notified by email of the instruction by Legal Marketing Services Limited (LMS) and must access the instruction only through the LMS Conveyancer Zone website. The instruction will be a copy of the mortgage offer addressed to the borrower, you will not normally receive a mortgage offer or copy letter addressed to you and should treat the borrower (s) copy of the mortgage offer as the formal instruction to act on behalf of HSBC UK Bank plc. Standard Documents: You must use LMS Conveyancer Zone website to access all legal documents required. Requirements: As the Bank will not send you a separate letter of instruction, if you are unsure as to the changes required, please contact us per 1.11a You are required to ensure a new mortgage deed is signed for the transfer of equity and to register a new first charge by way of legal mortgage over the property on behalf of HSBC UK Bank plc. The bank will not agree to a transfer of equity subject to our existing charge and as such, will not be a signatory to the transfer deed. You must not send us a copy of the transfer deed, which should be signed by the transferors and transferees only. |
| Intelligent Finance |
Transfer of equity - No. Deed of covenant - Yes, L1(EW)(IF), request from Securities, Intelligent Finance, PO Box 890, Leeds, LS1 9UG |
| Investec Bank plc | No, you must ensure that the Bank's interest is sufficiently protected in the transfer, including the retention of relevant entries on the title. |
| ITL Mortgages | No |
| JPMorgan Chase Bank, N.A. | No. |
| Kensington Mortgage Company Ltd | No. |
| Kent Reliance (a trading name of OneSavings Bank plc) | No |
| Keystone Property Finance | No |
| Landbay Partners Limited | We currently do not permit transfers of equity. |
| Landmark Mortgages Limited |
No, but we can provide a set of guidance notes. Our prior consent is required. |
| Leeds Building Society | No. |
| Legal & General Home Finance Ltd | No. |
| LendInvest | No. To be drafted and sent to us for approval in each case. |
| LiveMore Capital | No |
| Lloyds Bank plc pre fixed 20/40 | Transfer of equity ? no. Deed of covenant ? yes (our form L1), request from Customer Service Centre. |
| Lloyds Bank plc pre fixed 50/30/77 |
Not applicable. |
| Lloyds TSB Scotland plc |
Not applicable. |
| M&S Bank | no |
| Magellan Homeloans | No |
| Manchester Building Society | No. |
| Market Harborough Building Society | No |
| Masthaven Bank | No. |
| Metro Bank plc | No. |
| ModaMortgages |
No. |
| Molo Finance | No. |
| Monmouthshire Building Society |
Transfer of Equity - N/A Transfers of Equity are dealt with by redeeming original mortgage and a new regulated mortgage taken out. Deed of Covenant - Yes |
| Mortgage Agency Services | Yes |
| Mortgage Express | No. Covenant by new Borrower(s) to be inserted in Form TR1 or AS1 as set out in paragraph 16.3.4. |
| Mortgage Express No 2 | No. A Covenant by new Borrower(s) to be inserted in Form TR1 or AS1 as set out in paragraph 16.3.4 |
| MPowered Mortgages | No |
| National Counties Building Society | No. |
| National Westminster Bank plc |
No. We require a reconstitution of the security in Transfer of Equity cases. |
| Nationwide Building Society | No |
| Nedbank Private Wealth Ltd | We do no have any standard forms of transfer of equity or deeds of covenant. |
| New Street Mortgages |
No, to be drafted by you and sent to us for approval |
| NRAM Ltd | No, but we can provide a set of guidance notes. Our prior consent is required. |
| Paragon Buy to Let Mortgages | No |
| Paragon Residential Owner-Occupied Mortgages | No. |
| Paratus AMC Ltd |
No. We require you to draft an appropriate form of transfer/deed of covenant as may be necessary. You must ensure that our interest is sufficiently protected. |
| Parity Trust | No |
| Pepper Money | No |
| Pepper Money (PUK) | No |
| Perenna | No, a standard TR1 document will be acceptable. Perenna’s consent will be required before the transfer can take place. |
| Platform (a trading name of The Co-operative Bank p.l.c.) | No. |
| Precise Mortgages (Charter Court Financial Services Ltd) | No. |
| Principality Building Society | No |
| Reliance Bank Ltd | None |
| Rooftop Mortgages Ltd | No. |
| Saffron Building Society | No |
| Sainsbury's Bank | We do not have a specific form of transfer. However, a covenant by any new borrower(s) sufficient to protect the bank’s interest should be inserted as per 16.3.4. Our prior consent is also required. |
| Santander UK plc | No, but we have required wording - refer to the Mortgage Operations office instructing you. |
| Scottish Building Society | No |
| Scottish Widows Bank | No - However we require a fresh Legal Charge to be granted by the new Borrower(s) |
| Secure Trust Bank PLC | No. |
| Skipton Building Society | No. |
| St James Place Bank |
Transfer of equirt - No Deed of covenant - Yes, L1(EW)(SJPB), request from Mortgage Administration, St James'Place Bank, Administration Centre, PO Box 1869, Livingston EH54 7XS |
| State Bank of India UK | No. |
| Swansea Building Society | No |
| The Mortgage Business | No |
| The Mortgage Lender Limited | No, to be drafted by you and sent to us for approval. |
| The Mortgage Works | No |
| The Royal Bank of Scotland plc | No. We require a reconstitution of the security in Transfer of Equity cases. |
| The Royal Bank of Scotland plc Direct Line Mortgages | No. We require a reconstitution of the security in Transfer of Equity cases |
| The Royal Bank of Scotland plc Direct Line One | No. We require a reconstitution of the security in Transfer of Equity cases |
| The Royal Bank of Scotland plc First Active |
For mortgage accounts that begin with the number 6 - No. We require a reconstitution of the security in Transfer of Equity cases. For mortgage accounts that begin with VIR or number 1 - No. We require a reconstitution of the security in Transfer of Equity cases. |
| The Royal Bank of Scotland plc Natwest one Account | No. We require a reconstitution of the security in Transfer of Equity cases. |
| The Royal Bank of Scotland plc One Account | No. We require a reconstitution of the security in Transfer of Equity cases. |
| The Royal Bank of Scotland plc Virgin One | No. We require a reconstitution of the security in Transfer of Equity cases. |
| The Tipton & Coseley Building Society | No, please submit draft for approval. |
| Together Personal Finance Limited | No. |
| Topaz Finance Ltd | No. |
| TSB Bank plc | Not applicable. |
| Ulster Bank | No, but we do have standard wording for the relevant section of Land Registry Form TR1. |
| Vida Homeloans | No |
| Virgin Money | No, but we'll provide you with our instructions. Our consent to the transfer will be required. |
| Whistletree (a trading name of TSB Bank plc) | No, but we can provide a set of guidance notes. Our prior consent is required. |
| Yorkshire Bank Home Loans Ltd | No. |
| Yorkshire Building Society |
We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request. As to a standard form of transfer - no. As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage. |
| Zephyr Homeloans | No. |