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Question: 5.5.1. Do you lend on flying freeholds?
| Lender | Answer |
|---|---|
| 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. |
| Atom Bank plc | Yes, provided the element of flying freehold does not exceed 15% |
| 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 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 is paragraph 5.5.2.2 is complied with |
| Bank of Scotland Beginning O |
Yes, but only is paragraph 5.5.2.2 is complied with |
| 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. |
| Birmingham Midshires |
Yes, if only part of the title is a "flying" or "creeping" freehold. |
| Bradford & Bingley Limited |
Yes - provided not more than 25% of the floor is affected. |
| Britannia, a trading name of The Co-operative Bank plc | Yes, provided the extent of the security affected is no more than 15% of the property |
| 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, if this does not appear in the Mortgage Valuation Report you should report this to us. We may be prepared to proceed, but our requirements are that there must be adequate and fully enforceable rights of support and access (including any rights necessary for services) and full access for maintenance. |
| Co-operative Bank plc | Yes, provided the extent of the security affected is no more than 15% of the property. |
| Coventry Building Society | Yes, subject to the area of flying freehold being no more than 25% of the floor area. |
| 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. |
| DB UK Bank Ltd |
Dependant on the extent of the property affected, please refer to: db mortgages PO Box 890 Newport NP20 9LZ Tel: 0845 650 6281 DX Address - not available |
| Ecology Building Society |
Yes |
| 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. |
| First Trust Bank |
We may lend where only part of the property is affected providing the solicitor: a) informs the Bank of the presence of a flying freehold b) Provides details of the portion of the property affected c) Confirms that there are satisfactory and enforceable rights of support, shelter and repair together with appropriate rights of entry. |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd | Yes, subject to the area of flying freehold being no more than 25% 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 | |
| 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. |
| HSMS |
Yes - provided not more than 25% of the floor area is affected. |
| Intelligent Finance |
Yes, if only part of the title is a "flying" or "creeping" fReehold. |
| ITL Mortgages | Yes, subject to the area of flying freehold being no more than 25% of the floor area. |
| Kensington Mortgage Company Ltd | No, unless the flying freehold represents 15% or less of the total floor area. Refer to Kensington. |
| 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 1.10a. If the Society proceeds where the property is subject to a flying freehold, you must ensure Part 1, paragraph 5.5.2 is complied with. |
| Lloyds Bank plc | Yes, if para 5.5.2.2 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 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. |
| Mortgage Express |
Yes - provided not more than 25% of the floor area is affected. |
| Mortgage Express (No 2) |
Yes - provided not more than 25% of the floor area is affected. |
| 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. |
| 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 New Mortgage Completions, other details as 1.10a. |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
Yes, provided the extent of the security affected is no more than 15% of the property |
| Rooftop Mortgages Ltd |
Please contact the lender |
| 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, provided the title to the property incorporates (or will incorporate prior to completion of the mortgage) satisfactory and enforceable rights of support, shelter and repair, together with appropriate rights of entry. Indemnity insurance as per 5.5.2.4 is not acceptable. |
| Scottish Widows Bank | Yes, if less than 25% of the whole and para 5.5.2.2 complied with. |
| The Mortgage Business |
Yes, if only part of the title is a flying or 'creeping' freehold. |
| The Royal Bank of Scotland plc |
Yes, provided the loan is less than 90% of the valuation. |
| TSB Bank plc | Yes, if 5.6.2 is complied with |
| UCB Home Loans Corporation Ltd |
Yes - subject to the area flying being no more than 15 square metres. |
| Ulster Bank |
Yes, provided the loan is less than 90% of the valuation. |
| Virgin Money | We will lend where the flying freehold part is less than 15% of the total floor area of the property. |
| 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. |