Back to previous page
Question: 5.9. Contact point if borrower is not providing balance of purchase price from own funds/proposing to give second charge.
| Lender | Answer |
|---|---|
| Accord Mortgages Ltd |
As 4.1.1.2. |
| Atom Bank plc | Please raise a query via Secure Link which is accessed through Conveyancer Zone and the panel membership dashboard, or contact us via telephone at 03333 990055, or via email at conveyancing@digitalmortgages.net. |
| Aviva Equity Release UK Ltd |
See 1.10 |
| Bank of Ireland (UK) plc | See 1.10 |
| Bank of Ireland as Bank of Ireland Mortgages | See 1.10 |
| Bank of Scotland Beginning A |
We do not require you to report a gifted deposit subject to you being satisfied that the following conditions are met: The property is being purchased to live in and will not be let. The gift is from an immediate family member(s), who confirms it is not repayable. Gifts from unrelated third parties, including friends and employers are not acceptable. The family member(s) must be related to one of the borrower(s) by any of the following (see also the definition in Part 1, paragraph 1.13); • birth/blood relative • spouse or civil partner, child, step children, adopted children and in-laws • A co-habitee A Deed of Trust or Second Charge to protect the gifted deposit is not acceptable. You must continue to report a gifted deposit from a family member who is also the Vendor. Note we do not accept family gifted deposits in Buy to Let transactions where the Vendor is a family member. Where a gifted deposit is acceptable you must obtain and retain on your file a letter, addressed to you, signed by each individual family member(s) gifting the deposit which confirms the following information; • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and the family member(s) providing the gift will not acquire an interest in the property • The letter must be dated within 3 months of completion You must ensure clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. You should report any other circumstances where the balance of the purchase price is not being provided in accordance with Part 1 and in doing so must wait for our written instructions prior to proceeding. Please write to our Customer Services Centre (see offer for address and fax number). |
| Bank of Scotland Beginning O |
We do not require you to report a gifted deposit subject to you being satisfied that the following conditions are met: The property is being purchased to live in and will not be let. The gift is from an immediate family member(s), who confirms it is not repayable. Gifts from unrelated third parties, including friends and employers are not acceptable. The family member(s) must be related to one of the borrower(s) by any of the following (see also the definition in Part 1, paragraph 1.13); • birth/blood relative • spouse or civil partner, child, step children, adopted children and in-laws • A co-habitee A Deed of Trust or Second Charge to protect the gifted deposit is not acceptable. You must continue to report a gifted deposit from a family member who is also the Vendor. Note we do not accept family gifted deposits in Buy to Let transactions where the Vendor is a family member. Where a gifted deposit is acceptable you must obtain and retain on your file a letter, addressed to you, signed by each individual family member(s) gifting the deposit which confirms the following information; • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and the family member(s) providing the gift will not acquire an interest in the property • The letter must be dated within 3 months of completion You must ensure clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. You should report any other circumstances where the balance of the purchase price is not being provided in accordance with Part 1 and in doing so must wait for our written instructions prior to proceeding. Please write to our Customer Services Centre (see offer for address and fax number). |
| Barclays Bank UK PLC |
We do not require you to report a gifted deposit to us provided: (i) it is an unconditional gift and is not repayable or secured by a legal charge and the gift or is not claiming any interest in the property; (ii) it is being provided by a family member; and (iii) you have confirmed the source of the funds We do require you to report to us where source of deposit is identified as being a crypto-asset (whether or not converted to fiat currency). Crypto-assets can include “cryptocurrencies” (such as Bitcoin), utility tokens (unregulated Crypto-assets usually issued as part of an ICO/ITO) asset tokens including “stable coins” (asset-backed coins with a value pegged to a physical asset of some kind) and security tokens. |
| Birmingham Midshires |
You should report any circumstances where the balance of the purchase price is not being provided in accordance with Part 1 and in doing so must wait for our written instructions prior to proceeding. Please write to our Customer Services Centre (see offer for address and fax number). Gifted deposits are only acceptable where all the following apply; The gift is from an immediate family member(s), who confirms it is not repayable. Gifts from unrelated third parties, including friends and employers are not acceptable. The family member(s) must be related to one of the borrower(s) by any of the following (see also the definition in Part 1, paragraph 1.13); • birth/blood relative • spouse or civil partner, child, step children, adopted children and in-laws • A co-habitee A Deed of Trust or Second Charge to protect the gifted deposit is not acceptable. Note we do not accept family gifted deposits in Buy to Let transactions where the Vendor is a family member. When reporting a gifted deposit ensure your letter confirms the gift complies with our requirements. Where a gifted deposit is acceptable you must obtain and retain on your file a letter, addressed to you, signed by each individual family member(s) gifting the deposit which confirms the following information; • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and the family member(s) providing the gift will not acquire an interest in the property • The letter must be dated within 3 months of completion You must ensure clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. |
| Bradford & Bingley Limited |
As 1.10a |
| Britannia, a trading name of The Co-operative Bank plc |
Britannia New Lending Britannia House Leek Staffordshire Moorlands ST13 5RG or Britannia New Lending Britannia DX16351 Leek Telephone and fax Numbers as shown on the letter enclosing the Offer of Advance |
| Chelsea Building Society (a trading name of Yorkshire BS) | As 4.1.1.2. |
| CHL Mortgages | Customer Services, Capital Home Loans Ltd, Admiral House, Harlington Way, Fleet, Hants GU51 4YA |
| Co-operative Bank plc | See 1.10a earlier. This is subject to any overriding terms of the Mortgage Offer. |
| Coventry Building Society | CBS Instructing Office. |
| Danske Bank |
As for 1.10a. Where we are on notice that a third party has provided funds to the borrower which will be used by the borrower to part fund the purchase of the property, we will advise you what steps you need to take in the special conditions contained within the offer document. However, if it comes to your attention that any third party not referred to in the offer document is making any such contribution then you must report this matter to us and await further instruction. In all cases you must be satisfied as to the source of the funds and that the third party will not acquire any interest in the property on foot of the contribution. If during the course of the transaction you become aware that a second or subsequent mortgage is to be created over the Property and no reference has been made to this charge in the Special Conditions then you must report this immediately to the Bank and await further instructions from the Bank before proceeding. |
| DB UK Bank Ltd |
db mortgages PO Box 890 Newport NP20 9LZ Tel: 0845 650 6281 DX Address - not available |
| Ecology Building Society |
As in 1.10 |
| First Direct |
Contact Point as 1.10b You must report any circumstances where the balance of the purchase price is not being provided in accordance with Part 1 and in doing so must wait for our written instructions prior to proceeding. We do not accept deposits sourced from unsecured credit facilities or personal borrowing We do not require you to report a deposit gifted by a family member (unless the donor is also the Vendor) provided that you are satisfied that the following conditions are met The gift must be from a family member(s), who confirms it is unconditional and not repayable. A family member is considered to be a close relation defined as a spouse, domestic partner, grandparent, parent sibling, half sibling, aunt, uncle, cousin, in law relation or step relation. Gifts from third parties, including friends and employers are not acceptable. The family member(s) must be related to one of the borrower(s). Where a gifted deposit meets the above conditions and a Declaration of Trust is not being made, you must obtain and retain on your file a letter, addressed to you, signed by each donor which confirms the following information; • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and is an unconditional gift, and the donor(s) providing the gift will not acquire an interest in the property • The letter must be obtained prior to completion and dated no more than 3 months of this date. Where a Declaration of Trust is being made, this must be drafted in accordance with section 19 of our Mortgage Lending Instructions and Guidance Notes for England & Wales, Scotland & Northern Ireland which are located on Legal instructions for moving home | first direct – please ensure that you download the Guidance Notes and refer to the relevant section when drafting the Declaration of Trust. You must send us a copy of the draft deed at least 10 working days prior to completion for approval. You must not proceed without such approval. Sole legal proprietor – it is not acceptable for a sole legal proprietor to enter into a Declaration of Trust. In addition to your usual searches, you must ensure clear bankruptcy searches are obtained against all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. |
| First Trust Bank |
If Borrower is providing any part of the balance of purchase price from borrowed funds, including a second charge, you must contact the Bank immediately at: Mortgage Business Team First Trust Bank 92 Ann Street Belfast BT1 3HH Telephone no. 0345 600 5925 Mortgage.completions@aib.ie |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd | GML Instructing Office. |
| Halifax |
We do not require you to report a gifted deposit subject to you being satisfied that the following conditions are met: The property is being purchased to live in and will not be let. The gift is from an immediate family member(s), who confirms it is not repayable. Gifts from unrelated third parties, including friends and employers are not acceptable. The family member(s) must be related to one of the borrower(s) by any of the following (see also the definition in Part 1, paragraph 1.13); • birth/blood relative • spouse or civil partner, child, step children, adopted children and in-laws • A co-habitee A Deed of Trust or Second Charge to protect the gifted deposit is not acceptable. You must continue to report a gifted deposit from a family member who is also the Vendor. Note we do not accept family gifted deposits in Buy to Let transactions where the Vendor is a family member. Where a gifted deposit is acceptable you must obtain and retain on your file a letter, addressed to you, signed by each individual family member(s) gifting the deposit which confirms the following information; • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and the family member(s) providing the gift will not acquire an interest in the property • The letter must be dated within 3 months of completion You must ensure clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. You should report any other circumstances where the balance of the purchase price is not being provided in accordance with Part 1 and in doing so must wait for our written instructions prior to proceeding. Please write to our Customer Services Centre (see offer for address and fax number). |
| Halifax Loans Ltd | Halifax Loans Limited, Trinity Road, Halifax, HX1 2RG. |
| Hampden & Co. plc | |
| HSBC UK Bank plc |
Contact Point as 1.10b You must report any circumstances where the balance of the purchase price is not being provided in accordance with Part 1 and in doing so must wait for our written instructions prior to proceeding. We do not accept deposits sourced from unsecured credit facilities or personal borrowing We do not require you to report a deposit gifted by a family member (unless the donor is also the Vendor) provided that you are satisfied that the following conditions are met The gift must be from a family member(s), who confirms it is unconditional and not repayable. A family member is considered to be a close relation defined as a spouse, domestic partner, grandparent, parent sibling, half sibling, aunt, uncle, cousin, in law relation or step relation. Gifts from third parties, including friends and employers are not acceptable. The family member(s) must be related to one of the borrower(s). Where a gifted deposit meets the above conditions and a Declaration of Trust is not being made, you must obtain and retain on your file a letter, addressed to you, signed by each donor which confirms the following information; • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and is an unconditional gift, and the donor(s) providing the gift will not acquire an interest in the property • The letter must be obtained prior to completion and dated no more than 3 months of this date. Where a Declaration of Trust is being made, this must be drafted in accordance with section 19 of our Mortgage Lending Instructions and Guidance Notes for England & Wales, Scotland & Northern Ireland which are located on LMS Conveyancer Zone – please ensure that you download the Guidance Notes and refer to the relevant section when drafting the Declaration of Trust. You must send us a copy of the draft deed at least 10 working days prior to completion for approval. You must not proceed without such approval. Sole legal proprietor – it is not acceptable for a sole legal proprietor to enter into a Declaration of Trust. In addition to your usual searches, you must ensure clear bankruptcy searches are obtained against all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. |
| HSMS |
Yes |
| Intelligent Finance |
Securities, Intelligent Finance, PO Box 890, Leeds, LS1 9UG |
| ITL Mortgages | ITL Instructing Office. |
| Kensington Mortgage Company Ltd | Kensington Mortgages, New Business Operations Centre, Ascot House, Maidenhead Office Park, Maidenhead, SL6 3QQ. Tel: 03444 990011 Fax: 03444 990022. |
| Landmark Mortgages Limited |
New Mortgage Completions Landmark Mortgages PO Box 656 Durham DH1 9LY Tel - 0330 159 7152 |
| Leeds Building Society |
Mortgage Lending Department (as per 1.10a) Gifted deposits will only be considered where the gift is from a family member. If the balance of the purchase price is being paid in whole or in part by anyone other than the borrower, you must: • provide us with a declaration of the amount; • obtain confirmation that such amount is not repayable and that the party providing this amount will not acquire an interest in the property; and • ensure that clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You only need to notify us where you are unable to obtain clear bankruptcy searches. The person who is gifting the deposit must be a UK resident, living in the UK and the funds must be held in a UK bank or building society account. |
| Lloyds Bank plc |
We do not require you to report a gifted deposit subject to you being satisfied that the following conditions are met: The property is being purchased to live in and will not be let. The gift is from an immediate family member(s), who confirms it is not repayable. Gifts from unrelated third parties, including friends and employers are not acceptable. The family member(s) must be related to one of the borrower(s) by any of the following (see also the definition in Part 1, paragraph 1.13); • birth/blood relative • spouse or civil partner, child, step children, adopted children and in-laws • A co-habitee A Deed of Trust or Second Charge to protect the gifted deposit is not acceptable. You must continue to report a gifted deposit from a family member who is also the Vendor. Note we do not accept family gifted deposits in Buy to Let transactions where the Vendor is a family member. Where a gifted deposit is acceptable you must obtain and retain on your file a letter, addressed to you, signed by each individual family member(s) gifting the deposit which confirms the following information; • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and the family member(s) providing the gift will not acquire an interest in the property • The letter must be dated within 3 months of completion You must ensure clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. You should report any other circumstances where the balance of the purchase price is not being provided in accordance with Part 1 and in doing so must wait for our written instructions prior to proceeding. Please write to our Customer Services Centre (see offer for address and fax number). |
| Lloyds TSB Scotland plc | Mortgage Processing. Please see 1.10a |
| M&S Bank |
M&S Bank, PO Box 12, Skipton, BD23 2HL. Telephone Number 0345 002 1128 Fax 0345 111 0322 Where the deposit has been gifted by a third party, then you must obtain a letter from the donor to confirm the following: a) the deposit is non refundable AND an unconditional gift b) AND that no interest is claimed or will be claimed in the property We wil lrequire prior to completion either: 1) a copy of the letter from the donor or 2) |
| Mortgage Express |
As 1.10a |
| Mortgage Express (No 2) |
As 1.10a |
| National Westminster Bank plc |
As detailed above in 1.10 If the customer is receiving a gift from a third party (not sellers/vendors) we confirm we are happy to proceed without a further request from you provided that the gift is unconditional, bears no interest, is not repayable and the giftor will have no interest in the property. We accept second charges to protect the giftors interest provided we have a fully enforceable first legal charge (with a deed of postponement in place if applicable) and there are no repayments relating to the second charge. Again, no additional request is required from you in this instance. We confirm that no additional borrowing will be granted without prior consent from the second charge holder. Please kindly report any repayments. |
| Nationwide Building Society |
Issuing Office If the balance of the purchase price is being paid wholly or in part by anyone other than the borrower, you must advise us of the amount and whether it is to be secured by a second charge and if any conditions are attached to it other than repayment upon sale of property. Please also confirm whether the provider is a family member of our borrower(s). If all or part of the deposit is coming from a gift, you must ask the borrower(s) who will be providing the gift and what country the gift is being received from. If any of the gift is coming from a foreign country, you must inform us. We require you to report to us where source of deposit is identified as being a crypto-asset (whether or not converted to fiat currency). Crypto-assets can include “cryptocurrencies” (such as Bitcoin), utility tokens (unregulated Crypto-assets usually issued as part of an ICO/ITO) asset tokens including “stable coins” (asset-backed coins with a value pegged to a physical asset of some kind) and security tokens. |
| New Street Mortgages | New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW. Tel: 0333-300-3100, Fax: 0333-300-3132, email: enquiries@newstreetmortgages.com |
| NRAM Ltd | As 1.10a |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
Refer to office issuing mortgage instructions - this is subject to any overriding terms of the mortgage offer |
| Rooftop Mortgages Ltd |
The address and contact details shown on the mortgage offer |
| Sainsbury's Bank |
Contact point as detailed in 1.10a The bank will not allow a second charge over the property. |
| Santander UK plc | Refer to the Mortgage Operations office instructing you-this is subject to any overriding terms of the mortgage offer. |
| Scottish Widows Bank |
We do not require you to report a gifted deposit subject to you being satisfied that the following conditions are met: The gift is from an immediate family member(s), who confirms it is not repayable. Gifts from unrelated third parties, including friends and employers are not acceptable. You must report a gifted deposit from a family member who is also the Vendor. We do not accept family gifted deposits in Buy to Let transactions where the Vendor is a family member The family member(s) must be related to one of the borrower(s) by any of the following (see also the definition in Part 1 , paragraph 1.13); • birth/blood relative • spouse or civil partner, child, step children, adopted children and in-laws • A co-habitee A Deed of Trust or Second Charge to protect the gifted deposit is not acceptable. Where a gifted deposit is acceptable you must obtain and retain on your file a letter, addressed to you, from each individual family member(s) gifting the deposit which confirms the following information; • The name address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and the family member(s) providing the gift will not acquire an interest in the property. You must ensure clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. You should continue to report any other circumstance where the balance of the purchase price is not being provided in accordance with part 1 and in doing so must wait for our written instructions prior to proceeding. Please write to our Customer Services Centre (see offer for address and fax number). |
| The Mortgage Business |
The Mortgage Business plc, PO Box 548, Leeds LS1 1WU |
| The Royal Bank of Scotland plc |
As detailed above in 1.10. If the customer is receiving a gift from a third party (not sellers/vendors) we confirm we are happy to proceed without a further request from you provided that the gift is unconditional, bears no interest, is not repayable and the giftor will have no interest in the property. We accept second charges to protect the giftors interest provided we have a fully enforceable first legal charge (with a deed of postponement in place if applicable) and there are no repayments relating to the second charge. Again, no additional request is required from you in this instance. We confirm that no additional borrowing will be granted without prior consent from the second charge holder. Please kindly report any repayments. |
| TSB Bank plc | Mortgage Processing. Please see 1.10a |
| UCB Home Loans Corporation Ltd |
See 1.10 |
| Ulster Bank |
As detailed above in 1.10 If the customer is receiving a gift from a third party (not sellers/vendors) we confirm we are happy to proceed without a further request from you provided that the gift is unconditional, bears no interest, is not repayable and the giftor will have no interest in the property. We accept second charges to protect the giftors interest provided we have a fully enforceable first legal charge (with a deed of postponement in place if applicable) and there are no repayments relating to the second charge. Again, no additional request is required from you in this instance. We confirm that no additional borrowing will be granted without prior consent from the second charge holder. Please kindly report any repayments. |
| Virgin Money |
Mortgage Processing Operations Virgin Money Gosforth Newcastle upon Tyne NE3 4PL Solicitor Helpline: 0845 604 4858 Solicitor Email: postoffer@virginmoney.com |
| Yorkshire Building Society |
As 4.1.1.2. |