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Question: 6.5.1. Contact point if property is let/to be let.
| Lender | Answer |
|---|---|
| Accord Mortgages Ltd | As 4.1.1.2. If prior to completion of the mortgage you become aware that the borrower intends to let the property you must inform us immediately. |
| 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 |
We do not allow buy-to-let or for the whole property to be let. We will allow customers to let out a discrete part of the Property at the inception of or during the lifetime of the mortgage providing certain conditions are met. These are: • The part of the Property where the tenant will reside must be self-contained so that the tenant can have exclusive possession of that part. • The valuer will confirm that the proposed tenant living space will be no more than 50% of total area on which the mortgage is to be secured. • The Property must meet all other criteria within our lending rules. Once we have verified the Property meets our requirements, we will then proceed to offer and include any specific requirements to you in a Special Condition. In all cases, we require you to check that the tenancy agreement is a Tenancy Agreement, only in the precise form of the Northern Ireland’s Housing Executive model. You are also required to obtain an Tenant’s Deed of Consent for any occupant of the proposed tenant living space. Each occupant of the proposed tenant living space must receive separate independent legal advice from a solicitor, Chartered Legal Executive or Licensed Conveyancer in a different firm to the Borrower’s solicitor. The Tenant’s Deed of Consent must be witnessed by the solicitor providing the advice. See 1.10 for Aviva contact details |
| Bank of Ireland (UK) plc |
See 1.10. However, if the borrower has received a Buy to Let offer from us, there is no need to report to us if the proposed letting complies with the terms of the Offer. If the property is already let, please refer to the special condition set out in the Offer. |
| Bank of Ireland as Bank of Ireland Mortgages |
See 1.10. However, if the borrower has received a Buy to Let offer from us, there is no need to report to us if the proposed letting complies with the terms of the Offer. If the property is already let, please refer to the special condition set out in the Offer. |
| Bank of Scotland Beginning A |
Address & telephone number on Mortgage Offer Applications which involve distressed sales are not acceptable, i.e. to avoid repossession proceedings and/or sale & leaseback arrangements, whereby the vendor will not vacate the property but will continue to reside under an AST. |
| Bank of Scotland Beginning O |
Address & telephone number on Mortgage Offer Applications which involve distressed sales are not acceptable, i.e. to avoid repossession proceedings and/or sale & leaseback arrangements, whereby the vendor will not vacate the property but will continue to reside under an AST. |
| Barclays Bank UK PLC |
Issuing Office Where the loan is explicitly identified in the Mortgage Offer as a Buy to Let purchase or re-mortgage, you do not need to inform us that the transaction is for Buy to Let purposes. Where the BTL transaction includes a sale and lease back arrangement you only need you contact us if either of the following criteria are not met: • Lease term is from 6 to 36 months • The property must not be used for a sales office (except where the garage alone is to be used for such purpose) • The tenant must not be the previous owner of the property. • The property cannot be used as the site’s official sales office – other than where the garage alone is to be used for such purpose. • The developer’s Licence Agreement that the property will be returned to original state must be evidenced. |
| Birmingham Midshires |
Conveyancer Support Team. (see offer for address and fax number) Applications which involve 'distressed sales' are not acceptable, i.e. to avoid repossession proceedings and/or sale & leaseback arrangements, whereby the vendor will not vacate the property but will continue to reside under an AST. |
| 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. If we have consented to let in the offer, the following shall apply: TENANCIES TO INDIVIDUALS 1. The tenancy agreement should not contain any provisions which may have an adverse affect on the Company?s security and without prejudice to the generality of the foregoing, should (a) not be such that the tenant obtains security of tenure by virtue of the Rent (NI) Order 1978, (b) not be for a term longer than one calendar year and (c) be capable of letting at a full market value rent; 2. The tenancy agreement must make provision for monthly or quarterly payments; annual premiums paid in advance are not acceptable; 3. We will not accept tenants who are claiming Housing benefits. TENANCIES TO COMPANIES If the property is let to a Company, you should ensure that the following points are covered in the tenancy agreement. 1. The Property is only let under a fixed term tenancy agreement for a maximum term of 3 years (the panel valuer for the Company will be required to have taken note of the actual term in providing his valuation of the Property); 2. The tenancy agreement must make provision for monthly or quarterly payments; annual premiums paid in advance are not acceptable; 3. The tenancy agreement must require the Property to be used as a residential dwelling only; 4. The tenancy agreement must prohibit the corporate tenant from occupying or using the Property for any business purpose; 5. The tenancy agreement may allow the corporate tenant?s employees to occupy the property under a licence or tenancy with a term of no more than 12 months. LOANS TO COMPANIES 1. Where the mortgagor is a company, you should lodge particulars of the mortgage with the Registrar of Companies pursuant to Article 401 of the Companies (NI) Order 1986. 2. Copies of the Memorandum and Articles of Association of the Borrower (certified as true copies by your firm as the Borrower?s solicitors) must be obtained to ensure that the mortgagor has all relevant powers to purchase and mortgage. The certified copies should be forwarded to us before completion, along with a certified copy of the Certificate of Incorporation/Certificate of Trade, evidence of the Company's registered address and a full list of all shareholders and directors. 3. You should confirm proof of identity of all directors and 20% shareholders in line with specific conditions set out in the offer letter. 4. Certified extracts from the minutes of the Board Meeting authorising the acceptance of the loan and execution of the Mortgage should be obtained from the mortgagors? solicitors and placed with the title deeds; 5. You should obtain a company search in the name of the Borrower and you should check that the signatories to the Deed of Charge are duly authorised; 6. You must refer to the Company for instructions if the Borrower is not a company registered in Northern Ireland; 7. Personal Guarantees are a standard requirement for all Limited Company mortgages. The signed guarantee(s) must be forwarded to the Customer Services Department prior to completion, as a certified copy(ies). The original document(s) must be placed with the title deeds. 8. You should check the signatories identities and establish that the names of the directors signing match with those named on the Facility Letter. |
| Co-operative Bank plc | Refer to contact details referred to in 1.10a earlier. |
| Coventry Building Society |
CBS Instructing Office Please note that the Society will not lend on property with a controlled tenancy in place. Funds may not be used to purchase a property from a company in which the borrower has an interest. Funds may not be used to replace existing development finance. Funds may not be used to purchase a Buy to Let Property that is to be let to the current owner (i.e. who will remain in occupation of the property as a tenant). Where the property is already let or will be let at completion, the legal representative is to ensure that any existing or proposed tenancy agreement is in a form normally used for residential agreements and it does not confer security of tenure on the tenant(s) beyond the initial fixed contractual term, which must not exceed 36 months. |
| Danske Bank |
Investment Housing Loan - (a) If the facility is an Investment Housing Loan and it is the Borrower’s intention to let the Property, or the Property is subject to pre-existing tenancy which is to continue, then you should forward a copy of the proposed lease, or if the lease is already in existence, a copy of the lease itself, to the Mortgage Completion Team. It is important to note that the Bank will not advise the Borrower on any property investment decision or the legal obligations to be discharged by the Borrower acting as a landlord (including the requirement to be registered with the Landlord Registration Scheme). b) You should confirm to the Bank that the terms of any tenancy agreement (whether proposed or pre-existing) does not create a tenancy under which the rent recoverable would be restricted by statute or in respect of which the tenant would by statute or otherwise enjoy security of tenure after expiry of the contractual term. You must ensure that if a new tenancy is being created the provisions of the lease/tenancy agreement will not come into force until after completion and registration of the Bank’s Mortgage. c) You should obtain the written approval of the Bank to the terms of the proposed/pre-existing lease/tenancy agreement before completion, save that the Bank’s consent shall not be required to a letting at a rent which is the full open market rental value of the Property and is not restricted by statute or in respect of which the tenant would by statute or otherwise enjoy security of tenure after expiry of the contractual term. d) If the Property, or any building within which the Property is situate, is in multiple occupation (as defined by the Housing (N.I.) Order 2003 and any amending legislation) you must confirm that the Property is registered pursuant to the statutory registration scheme for houses in multiple occupation |
| 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 | We do not lend on property that is let or is to be let at completion |
| First Trust Bank |
Mortgage Business Team AIB NI 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 |
Please note that the Society will not lend on property with a controlled tenancy in place. Funds may not be used to purchase a property from a company in which the borrower has an interest. Funds may not be used to replace existing development finance. Funds may not be used to purchase a Buy to Let Property that is to be let to the current owner (i.e. who will remain in occupation of the property as a tenant). Where the property is already let or will be let at completion, the legal representative is to ensure that any existing or proposed tenancy agreement is in a form normally used for residential agreements and it does not confer security of tenure on the tenant(s) beyond the initial fixed contractual term, which must not exceed 36 months. |
| Halifax |
Conveyancer Support Team, (see offer for address and telephone/fax numbers). Applications which involve distressed sales are not acceptable, i.e. to avoid repossession proceedings and/or sale & leaseback arrangements, whereby the vendor will not vacate the property but will continue to reside under an AST. |
| Halifax Loans Ltd |
Halifax Loans Limited, Trinity Road, Halifax, HX1 2RG Applications which involve distressed sales are not acceptable, i.e. to avoid repossession proceedings and/or sale & leaseback arrangements, whereby the vendor will not vacate the property but will continue to reside under an AST. |
| Hampden & Co. plc | |
| HSBC UK Bank plc |
See 1.10b for contact points. Our requirements are: A Non-Rent Controlled Tenancy in compliance with the provisions of the Private Tenancies (Northern Ireland) Order 2006 (being a tenancy which is not affected by any rent controls) and must satisfy the following criteria: 1. The tenancy must be dated on or after 1 April 2007 and must not be one that is or can become a Protected Tenancy within the meaning of the Rent (Northern Ireland) Order 1978 (as amended) or a Rent Controlled Tenancy within the meaning of the Private Tenancies (Northern Ireland) Order 2006 2. The term of a lease to any individual(s) under a Non-Rent Controlled Tenancy, including any extension periods contained within that lease, must not exceed [3] years 3. Under the terms of a lease to any individual(s) under a Non-Rent Controlled Tenancy, the property must be occupied as the tenant’s or tenants' only or principal home with no right to sublet or part with possession of all or part of the property 4. The term of a residential letting to a company under a Non-Rent Controlled Tenancy which permits occupation of the property by an employee of the company tenant, including any extension periods contained within that lease, must not exceed [12] months 5. The property must not be let as a House in Multiple Occupation within the meaning the Houses in Multiple Occupation Act (Northern Ireland) 2016 6. If the property is leasehold tenure, the lessor’s/freeholder’s consent to any lease must be obtained The Bank does not require sight of any lease to an individual or to a company where that lease meets the criteria set out above For any other type of tenancy, the Bank will require sight of the proposed agreement for approval prior to completion The bank will not give consent to: - Lifetime tenancies. - Participation in schemes such as AirBnB |
| HSMS |
Yes |
| Intelligent Finance |
Securities, Intelligent Finance, PO Box 890, Leeds, LS1 9UG Applications which involve distressed sales are not acceptable, i.e. to avoid repossession proceedings and/or sale & leaseback arrangements, whereby the vendor will not vacate the property but will continue to reside under an AST. |
| ITL Mortgages |
Please note that the Society will not lend on property with a controlled tenancy in place. Funds may not be used to purchase a property from a company in which the borrower has an interest. Funds may not be used to replace existing development finance. Funds may not be used to purchase a Buy to Let Property that is to be let to the current owner (i.e. who will remain in occupation of the property as a tenant). Where the property is already let or will be let at completion, the legal representative is to ensure that any existing or proposed tenancy agreement is in a form normally used for residential agreements and it does not confer security of tenure on the tenant(s) beyond the initial fixed contractual term, which must not exceed 36 months. |
| 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 |
Contact not required if a Buy to Let mortgage, otherwise: 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) providing full details. |
| Lloyds Bank plc | Mortgage Processing. Please see 1.10. |
| 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 |
| Mortgage Express |
As 1.10a |
| Mortgage Express (No 2) |
As 1.10a |
| National Westminster Bank plc |
As detailed above in 1.10 though we only need to be contacted if it appears from the mortgage offer or the instructions that we are not aware that the property is let or to be let. We will not lend if the property is an HMO. You must advise us immediately if the property is an HMO as we may have to withdraw our offer. |
| Nationwide Building Society |
Issuing Office |
| 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 | Contact not required if a Buy to Let mortgage, otherwise as 1.10a. |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
Refer to office issuing mortgage instructions. |
| Rooftop Mortgages Ltd | n/a |
| Sainsbury's Bank | Contact point as detailed in 1.10a |
| Santander UK plc | Refer to the Mortgage Operations office instructing you. |
| Scottish Widows Bank | New Business Processing (see 1.10). |
| The Mortgage Business |
The Mortgage Business plc, PO Box 548, Leeds LS1 1WU Applications which involve distressed sales are not acceptable, i.e. to avoid repossession proceedings and/or sale & leaseback arrangements, whereby the vendor will not vacate the property but will continue to reside under an AST. |
| The Royal Bank of Scotland plc |
As detailed above in 1.10. |
| 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 We will not lend if the property is an HMO. You must advise us immediately if the property is an HMO as we may have to withdraw our offer. |
| Virgin Money |
Mortgage Processing Operations Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE3 4PL or DX 60350 Gosforth Solicitors Helpline: 0845 604 4858 |
| Yorkshire Building Society |
As 4.1.1.2. |