Back to previous page
Question: 5.14.17. Does the lender have any specific instructions relating to remortgages?
| Lender | Answer |
|---|---|
| Accord Buy to Let | Both Parts 5.14.17a & 5.14.17b are relevant to Re-mortgage instructions and should be followed appropriately. In regards, Section 5.14.17 (Part 1) any reference to “the vendors’ conveyancer” should be read as “the borrower”. |
| Accord Mortgages Ltd | Both Parts 5.14.17a & 5.14.17b are relevant to Re-mortgage instructions and should be followed appropriately. In regards, Section 5.14.17 (Part 1) any reference to “the vendors’ conveyancer” should be read as “the borrower”. |
| Aldermore Bank PLC | See response for 5.14.17b. |
| April Mortgages | Yes - if there is any element of capital raising this cannot be used to repay unsecured credit. |
| Atom Bank plc | |
| Bank of China | |
| Bank of Ireland (UK) plc | The conveyancer to confirm all documentation relating to building safety complies with the requirements of the Building Safety Act 2022. |
| Bank of Ireland as Bank of Ireland Mortgages | |
| Bank of Scotland Beginning A | No – 5.14.17 a and b do not apply to remortgages. |
| Bank of Scotland Beginning O | No – 5.14.17 a and b do not apply to remortgages. |
| Bank of Scotland Private Banking | |
| Barclays Bank UK PLC |
Section 5.14.17 (Part 1) also applies to remortgages with references to “the vendors’ conveyancer” to be read as “the borrower”. Section 5.14.17 (Part 2) applies to leasehold properties that are in scope of the building safety act as specified above, purchases and remortgages in England where they are in scope of the Building Safety Act 2022, unless expressly indicated otherwise. |
| Barnsley Building Soc, a trading name Yorkshire Building Soc | Both Parts 5.14.17a & 5.14.17b are relevant to Re-mortgage instructions and should be followed appropriately. In regards, Section 5.14.17 (Part 1) any reference to “the vendors’ conveyancer” should be read as “the borrower”. |
| Better HomeOwnership (Mortgages) | No |
| Birmingham Bank | No |
| Birmingham Midshires | No – 5.14.17 a and b do not apply to remortgages. |
| Bluestone Mortgages | |
| Britannia, a trading name of The Co-operative Bank plc | |
| Chelsea Building Society (a trading name of Yorkshire BS) | Both Parts 5.14.17a & 5.14.17b are relevant to Re-mortgage instructions and should be followed appropriately. In regards, Section 5.14.17 (Part 1) any reference to “the vendors’ conveyancer” should be read as “the borrower”. |
| CHL Mortgages | None. |
| Clydesdale Bank plc |
Where we are aware that a property is impacted by the Building Safety Act 2022 and remediation work is required, our valuation will refer to it. If the property will be remediated under either the Government Backed Scheme or the Developer Scheme, we do not require the leaseholder deed of certificate and the landlord’s certificate to be in place. For all other types of remediation, we will have seen a copy of the leaseholder deed of certificate and the landlord’s certificate before issuing our offer. However, we do require you to notify us if during your investigations you become aware that the borrower will not in fact benefit from the leaseholder protections afforded by the Act in these circumstances. If you become aware that the property is impacted by the Building Safety Act 2022 and remediation works are needed but our valuation does not make mention of this, you must notify us immediately. We expect you to notify our borrower of the situation and provide them with the required legal advice so they understand how this could affect them and the Property, now and in the future. You should also recommend they should take some professional advice from a surveyor. Under no circumstances should you provide them with a copy of our valuation report. |
| Co-operative Bank plc | |
| Coutts | No |
| Coutts Finance Co | No |
| Coventry Building Society | None |
| Cynergy Bank | No. |
| Danske Bank | |
| Darlington Building Society | |
| Ecology Building Society | N/A |
| First Direct |
Section 5.14.17 a. also applies to remortgages Section 5.14.17 b. applies to leasehold property purchases and remortgages in England unless expressly indicated otherwise. |
| Fleet Mortgages | Sections 5.14.17a and 5.14.17b also apply to remortgages and references to "sellers conveyancer" should be substituted for "borrower" as appropriate. |
| Foundation Home Loans | Section 5.14.17b also applies to remortgages. |
| Gen H | If you are made aware during the conveyancing process that the valuer’s assumptions regarding any remediation works under the Building Safety Act 2022 are incorrect or the security property has been identified as being in need of remediation and there is no relevant information on this point within the valuation report, you must report this to us immediately for consideration before submission of your Certificate of Title. |
| Godiva Mortgages Ltd | None |
| Halifax | No – 5.14.17 a and b do not apply to remortgages. |
| Halifax Loans Ltd | N/A |
| Harpenden Building Society | |
| Hodge | No - Sections 5.14.17a & 5.14.17b apply to purchases and remortgages. |
| Hodge Equity Release | |
| HSBC UK Bank plc |
Section 5.14.17 a. also applies to remortgages Section 5.14.17 b. applies to leasehold property purchases and remortgages in England unless expressly indicated otherwise. |
| Intelligent Finance | No – 5.14.17 a and b do not apply to remortgages. |
| Investec Bank plc | |
| ITL Mortgages | None |
| Kensington Mortgage Company Ltd | Sections 5.14.17 a & b apply to purchases and remortgages. |
| Kent Reliance (a trading name of OneSavings Bank plc) | |
| Landbay Partners Limited | See 5.14.17a. |
| Leeds Building Society | |
| Legal & General Home Finance Ltd | |
| LendInvest | No. |
| LiveMore Capital | |
| Lloyds Bank plc pre fixed 20/40 | No – 5.14.17 a and b do not apply to remortgages. |
| Lloyds Bank plc pre fixed 50/30/77 | No – 5.14.17 a and b do not apply to remortgages. |
| Lloyds TSB Scotland plc | No – 5.14.17 a and b do not apply to remortgages. |
| Metro Bank plc | No. |
| ModaMortgages | |
| Molo Finance |
Where the building is less than 11m in height, or where the block of flats/apartments has less than 5 storeys or do not require any action in relation to the Building Safety Act 2022. Likewise where there are no cladding or fire safety issues present and/or where either an EWS1 form is not required, or a satisfactory EWS1 form is held. You must tell us if you believe the valuer’s assumptions regarding any remediation works under the Building Safety Act 2022 are incorrect based on your enquiries or you believe from your enquiries that the security property has been identified as being in need of remediation. If the security property is identified as being in need of remediation you must immediately provide us with confirmation of costs known or anticipated which may be payable by leaseholders for such works. We will not lend where the property is an un-remediated property where fire safety works are required and leaseholders have not received notification in writing that they will not bear any costs, now or in the future or through future service charges. You must not complete the mortgage until you have received our further written instructions. We recommend that you report such matters before exchange of contracts because we may have to withdraw or change the mortgage offer. |
| Mortgage Agency Services | |
| MPowered Mortgages | |
| National Westminster Bank plc | No |
| Nationwide Building Society | Both Parts 5.14.17a & 5.14.17b are relevant to Remortgage instructions and should be followed appropriately. |
| Paragon Buy to Let Mortgages | Please see our reply to 5.14.17b |
| Pepper Money | |
| Pepper Money (PUK) | |
| Perenna | No |
| Platform (a trading name of The Co-operative Bank p.l.c.) | |
| Precise Mortgages (Charter Court Financial Services Ltd) | |
| Principality Building Society | |
| Reliance Bank Ltd | Dependent on valuers comments |
| Saffron Building Society | |
| Santander UK plc | Notify us if the assumption in the valuation report for remediation costs is not correct. |
| Scottish Building Society | |
| Scottish Widows Bank | No – 5.14.17 a and b do not apply to remortgages. |
| Skipton Building Society | Parts 5.14.17a and 5.14.17b are both applicable to re-mortgage instructions unless we notify you in writing to the contrary. |
| State Bank of India UK | |
| Swansea Building Society | |
| The Mortgage Business | N/A |
| The Mortgage Works | Both Parts 5.14.17a & 5.14.17b are relevant to Remortgage instructions and should be followed appropriately |
| The Royal Bank of Scotland plc | No |
| The Royal Bank of Scotland plc Direct Line Mortgages | No |
| The Royal Bank of Scotland plc First Active | No |
| The Royal Bank of Scotland plc Natwest one Account | No |
| The Royal Bank of Scotland plc One Account | No |
| The Royal Bank of Scotland plc Virgin One | No |
| TSB Bank plc | See response for 5.14.17b. |
| Ulster Bank | |
| Vida Homeloans | |
| Virgin Money |
Where we are aware that a property is impacted by the Building Safety Act 2022 and remediation work is required, our valuation will refer to it. If the property will be remediated under either the Government Backed Scheme or the Developer Scheme, we do not require the leaseholder deed of certificate and the landlord’s certificate to be in place. For all other types of remediation, we will have seen a copy of the leaseholder deed of certificate and the landlord’s certificate before issuing our offer. However, we do require you to notify us if during your investigations you become aware that the borrower will not in fact benefit from the leaseholder protections afforded by the Act in these circumstances. If you become aware that the property is impacted by the Building Safety Act 2022 and remediation works are needed but our valuation does not make mention of this, you must notify us immediately. We expect you to notify our borrower of the situation and provide them with the required legal advice so they understand how this could affect them and the Property, now and in the future. You should also recommend they should take some professional advice from a surveyor. Under no circumstances should you provide them with a copy of our valuation report. |
| Yorkshire Bank Home Loans Ltd |
Where we are aware that a property is impacted by the Building Safety Act 2022 and remediation work is required, our valuation will refer to it. If the property will be remediated under either the Government Backed Scheme or the Developer Scheme, we do not require the leaseholder deed of certificate and the landlord’s certificate to be in place. For all other types of remediation, we will have seen a copy of the leaseholder deed of certificate and the landlord’s certificate before issuing our offer. However, we do require you to notify us if during your investigations you become aware that the borrower will not in fact benefit from the leaseholder protections afforded by the Act in these circumstances. If you become aware that the property is impacted by the Building Safety Act 2022 and remediation works are needed but our valuation does not make mention of this, you must notify us immediately. We expect you to notify our borrower of the situation and provide them with the required legal advice so they understand how this could affect them and the Property, now and in the future. You should also recommend they should take some professional advice from a surveyor. Under no circumstances should you provide them with a copy of our valuation report. |
| Yorkshire Building Society | Both Parts 5.14.17a & 5.14.17b are relevant to Re-mortgage instructions and should be followed appropriately. In regards, Section 5.14.17 (Part 1) any reference to “the vendors’ conveyancer” should be read as “the borrower”. |
| Zephyr Homeloans |