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Question: 5.10.13. Do you accept indemnity insurance if the landlord is absent or insolvent?
| Lender | Answer |
|---|---|
| Accord Mortgages Ltd |
Yes, provided you are satisfied that such insurance is a solution to the difficulty identified and you can give an unqualified Certificate of Title. |
| Atom Bank plc | Yes, provided you are satisfied that such insurance is fully comprehensive and is a solution to the difficulty identified and you can give an unqualified Certificate of Title. You must retain a copy of any insurance policy on your file. |
| Aviva Equity Release UK Ltd |
Yes |
| Bank of Ireland (UK) plc |
Only if such insurance covers us in the event of a failure to insure or repair the common parts and services. |
| Bank of Ireland as Bank of Ireland Mortgages |
Only if such insurance covers us in the event of a failure to insure or repair the common parts and services. |
| Bank of Scotland Beginning A |
Yes, subject to the requirements of section 9 being met |
| Bank of Scotland Beginning O |
Yes, subject to the requirements of section 9 being met |
| Barclays Bank UK PLC | Yes, provided the conveyancer is satisfied that the insurance provides an adequate solution to the issue identified, including issues of unknown restrictive covenants, and an unqualified certificate of title can be provided. |
| Birmingham Midshires |
Yes, subject to the requirements of section 9 being met. |
| Bradford & Bingley Limited | Yes |
| Britannia, a trading name of The Co-operative Bank plc | Yes |
| Chelsea Building Society (a trading name of Yorkshire BS) | Yes, provided you are satisfied that such insurance is a solution to the difficulty identified and you can give an unqualified Certificate of Title. |
| CHL Mortgages |
Yes providing the Title remains good and marketable and Section 9 has been complied with. |
| Co-operative Bank plc | Yes, subject to the requirements of section 9 being met. |
| Coventry Building Society | Yes, in some instances. Please contact CBS Instructing Office for clarification. |
| Danske Bank | If this situation arises, please contact us via the details provided at 1.10a. |
| DB UK Bank Ltd | Yes subject to the requirements of section 9 being met |
| Ecology Building Society |
Yes |
| First Direct | Yes, indemnity insurance is acceptable. |
| First Trust Bank | Yes provided you are satisfied that indemnity insurance is an acceptable solution to the issue identified, that you can give an unqualified Certificate of Title and subject to the requirement of section 9 being met regarding indemnity insurance. |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd | Yes, in some instances. Please contact GML Instructing Office for clarification. |
| Halifax | Yes, subject to the requirements of section 9 being met. |
| Halifax Loans Ltd | Yes, subject to the requirements of section 9 being met. |
| Hampden & Co. plc | |
| HSBC UK Bank plc | Yes, indemnity insurance is acceptable. |
| HSMS |
Yes, after completion with the title deeds. |
| Intelligent Finance | Yes, subject to the requirements of section 9 being met. |
| ITL Mortgages | Yes, in some instances. Please contact ITL Instructing Office for clarification |
| Kensington Mortgage Company Ltd | Yes, subject to the requirements of Section 9 of Part 1 being met and the policy being the benefit of us, our transferees and our assignees. |
| Landmark Mortgages Limited | If there is an absentee landlord we are prepared to proceed upon your confirmation that the position is accepted by practitioners in the locality and provided the landlord is not obligated by the terms of the lease to maintain, repair and insure any common services or to enforce such obligations against a third party. In the case of insolvent landlords refer to our New Mortgage Completions. |
| Leeds Building Society |
Please refer to Mortgage Lending Department (as per 1.10a). |
| Lloyds Bank plc | Indemnity insurance is required if we agree to lend. |
| Lloyds TSB Scotland plc | Indemnity insurance is required if we agree to lend |
| M&S Bank | yes indemnity insurance is acceptable. We also require you to make retention equivalent to six (6) years ground rent |
| Mortgage Express |
Yes |
| Mortgage Express (No 2) | Yes |
| National Westminster Bank plc | Yes |
| Nationwide Building Society |
Yes providing there are no more than 6 flats in the building (no need to contact the Issuing Office) - 7 flats or more unacceptable. |
| New Street Mortgages | Yes subject to the requirements of Section 9 of Part 1 being met and the policy being the benefit of us, our transferees and our assignees. |
| NRAM Ltd | |
| Platform (a trading name of The Co-operative Bank p.l.c.) | Yes |
| Rooftop Mortgages Ltd |
Please refer property specific details to the address and contact details shown on the mortgage offer |
| Sainsbury's Bank | We will not lend where there is an absent or insolvent landlord. |
| Santander UK plc | We may accept indemnity insurance but the matter must be referred to us for confirmation that indemnity insurance is acceptable and for details of any additional requirements. |
| Scottish Widows Bank | Yes. |
| The Mortgage Business |
Yes, subject to the terms of Section 9 being met. |
| The Royal Bank of Scotland plc |
Yes. |
| TSB Bank plc | Indemnity insurance is required if we agree to lend |
| UCB Home Loans Corporation Ltd |
Yes, policy to be sent with the deeds. |
| Ulster Bank |
Yes |
| Virgin Money |
No. Instead refer to: Mortgage Processing Operations Virgin Money Gosforth Newcastle upon Tyne NE3 4PL Solicitor Helpline: 0845 604 4858 Solicitor Email: postoffer@virginmoney.com If the landlord is absent, we'll lend if you confirm: - that the position is accepted by practitioners in the local area of the property; and - the landlord isn't required by the lease to maintain, repair and insure any common areas/services or to enforce such obligations against 3rd parties. |
| Yorkshire Building Society |
Yes, provided you are satisfied that such insurance is a solution to the difficulty identified and you can give an unqualified Certificate of Title. |