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Question: 5.5.3. Do you lend in these circumstances?
| Lender | Answer |
|---|---|
| Accord Mortgages Ltd | Yes |
| Atom Bank plc | |
| Aviva Equity Release UK Ltd |
Yes. 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, we require a first charge on the freehold if it is wholly owned by the borrower. |
| Bank of Ireland as Bank of Ireland Mortgages |
Yes, we require a first charge on the freehold if it is wholly owned by the borrower. |
| Bank of Scotland Beginning A |
Yes |
| Bank of Scotland Beginning O |
Yes |
| Barclays Bank UK PLC | Yes |
| Birmingham Midshires |
Yes. 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. |
| Bradford & Bingley Limited | No |
| Britannia, a trading name of The Co-operative Bank plc | Yes |
| Chelsea Building Society (a trading name of Yorkshire BS) | Yes. |
| CHL Mortgages |
Yes, providing ALL flats in the block are subject to long leases, including the flat the borrower is to occupy |
| 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. |
| Coventry Building Society | Yes. We require a minimum of 70 years unexpired lease at completion. |
| 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 |
| DB UK Bank Ltd | Yes |
| Ecology Building Society |
Yes |
| First Direct |
Yes |
| First Trust Bank |
We may lend in these circumstances providing the solicitor: a) informs the Bank of the other freehold arrangements b) Provides details of the borrower’s responsibilities as a result of the freehold arrangements c) Ensures that the Bank’s mortgage/charge includes the freehold owned by the Borrower |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd | Yes, We require a minimum of 70 years unexpired lease at completion. |
| Halifax | Yes. |
| Halifax Loans Ltd | Yes. |
| Hampden & Co. plc | |
| HSBC UK Bank plc | Yes |
| HSMS |
The lease must have at least 25 years remaining at the end of the mortgage term. |
| Intelligent Finance | Yes. |
| ITL Mortgages | Yes, We require a minimum of 70 years unexpired lease at completion. |
| 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. |
| 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. |
| Lloyds Bank plc | Yes. |
| Lloyds TSB Scotland plc | N/A |
| M&S Bank | no |
| Mortgage Express |
No |
| Mortgage Express (No 2) |
No |
| National Westminster Bank plc | Yes |
| Nationwide Building Society | Yes |
| 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. |
| Platform (a trading name of The Co-operative Bank p.l.c.) | Yes |
| Rooftop Mortgages Ltd |
Please refer the property specific details to the address shown on the mortgage offer |
| Sainsbury's Bank | No. |
| Santander UK plc | Yes. |
| Scottish Widows Bank | Yes. |
| The Mortgage Business |
Yes |
| The Royal Bank of Scotland plc |
Yes. |
| TSB Bank plc | N/A |
| UCB Home Loans Corporation Ltd |
Yes, see 5.10 for our requirements for Leasehold Securities. |
| Ulster Bank |
Yes |
| Virgin Money | We're happy to lend so long as all the titles owned/to be owned by the borrower are charged to us. |
| Yorkshire Building Society |
Yes. |