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Question: 10.3. On a delayed completion, when and how is advance to be returned?
| Lender | Answer |
|---|---|
| Accord Mortgages Ltd |
Return the funds electronically to our bank account within one working day of completion date in Certificate. Details of our bank are: Bank: National Westminster Bank Plc Branch: City Centre, Bradford Sort Code: 56-00-36 Account No: 28512162 If not returned as above, or you do not quote correctly the borrower's name and account number, interest will be charged. |
| Atom Bank plc |
Return funds (including any cashback element) electronically within one day, subject to 10.6. Funds must be returned via Faster Payments or CHAPS, quoting the borrower’s name and account number, to: Sort code: 60-00-01, Account number: 48540870 Account name: Atom Bank PLC – Phoebus Cash Please notify Mortgage Completions Team that funds are being returned. |
| Aviva Equity Release UK Ltd |
Electronically if completion is delayed by more than 2 days |
| Bank of Ireland (UK) plc |
No later than 1 working day after the date originally planned for completion (unless we agree otherwise). We require the advance to be returned by telegraphic transfer to the bank account specified on the second page of the Certificate of Title. Please quote the mortgage account number. It would be helpful if you could advise us of a revised completion date. |
| Bank of Ireland as Bank of Ireland Mortgages |
No later than 1 working day after the date originally planned for completion (unless we agree otherwise). We require the advance to be returned by telegraphic transfer to the bank account specified on the second page of the Certificate of Title. Please quote the mortgage account number. It would be helpful if you could advise us of a revised completion date. |
| Bank of Scotland Beginning A |
The full amount of the mortgage advance as shown on the mortgage offer must be returned electronically, you must not deduct any charges as this can result in a delay for your client: Where the mortgage roll/account number begins with 70/, within 1 working day and transmitted to sort code 30-15-99, account number 00579601. If funds are not returned promptly within the timescales above this can result in the customer incurring charges and interest on their mortgage account. In all cases you should quote the mortgage roll/account number and the appropriate reason for return code: • RAD – Returned Advance • FADV – Returned further advance • DUP – duplicate funds received in error. |
| Bank of Scotland Beginning O |
The full amount of the mortgage advance as shown on the mortgage offer must be returned electronically, you must not deduct any charges as this can result in a delay for your client: Where the mortgage roll/account number begins with 70/, within 1 working day and transmitted to sort code 30-15-99, account number 00579601. If funds are not returned promptly within the timescales above this can result in the customer incurring charges and interest on their mortgage account. In all cases you should quote the mortgage roll/account number and the appropriate reason for return code: • RAD – Returned Advance • FADV – Returned further advance • DUP – duplicate funds received in error. |
| Barclays Bank UK PLC |
The full advance should be returned electronically after 48 hours. Funds should be returned to: 20-19-14 90927228 Mortgages Redempt Ref - Mortgage Account Number Upon request funds may be re-drawn up to a maximum of 28 days after returning them to us or up to the mortgage expiry date, whichever occurs sooner. |
| Birmingham Midshires |
The full amount of the mortgage advance as shown on the mortgage offer must be returned electronically, you must not deduct any charges as this can result in a delay for your client. Within 1 working day, the funds should be transmitted to: For mortgages with a pre fix of 20 Lloyds Bank, sort code 30-02-50, account number 04968773 For mortgages with a pre fix of 60, sort code 30-15-99, account number 00579601 If funds are not returned promptly within the timescales above this can result in the customer incurring charges and interest on their mortgage account. If funds are sent to the wrong account, this will cause a significant delay - please make sure you follow the correct process for the relevant account pre fix. In all cases you should quote the mortgage roll/account number and the appropriate reason for return code: • RAD – Returned advance • FADV – Returned further advance |
| Bradford & Bingley Limited |
If completion is to be delayed for more than 5 working days you must return the advance by CHAPS to: Bank: National Westminster Bank PLC, 63 North Street, Keighley, BD21 3SB Account name: Bradford & Bingley Limited Sort code: 51-70-19 Account number: 80010210 Please quote reference 'code' and the mortgage account number. We must be notified by telephone and fax. |
| Britannia, a trading name of The Co-operative Bank plc |
Please refer to the mortgage offer for specific instructions |
| Chelsea Building Society (a trading name of Yorkshire BS) |
Return the funds electronically to our bank account within one working day of completion date in Certificate. Details of our bank are: Bank: National Westminster Bank Plc Branch: City Centre Bradford Sort Code: 56-00-36 Account No: 29538556 If not returned as above, or you do not quote correctly the borrower's name and account number, interest will be charged. |
| CHL Mortgages |
If completion does not take place within one working day of funds being received by you, you must contact our Completions Dept for further instructions. If completion has not taken place within 7 days, they should be returned by telegraphic transfer to Barclays Bank, Broadgate Branch, Sort code 20-19-90, Account Number 40336246 |
| Co-operative Bank plc |
If completion does not take place on the requested date, we MUST have the funds returned back to us by CHAPS within 3 working days, together with interest at the rate quoted in the Mortgage Offer. For details of the bank account to which the funds must be returned, refer to the contact details as stated in your letter of instruction, quoting our reference. |
| Coventry Building Society | Please refer to the covering letter sent with each set of instructions. |
| Danske Bank |
You should notify us immediately if completion does not occur on the date advised to us within the Certificate of Title. If we request, you must return the funds to us electronically within 48-72 hours after this date. If funds are not returned promptly within the above timescale, this can result in the customer incurring charges and interest on their mortgage account at the rate set out in the Mortgage Offer. |
| DB UK Bank Ltd | By CHAPS, within 5 working days |
| Ecology Building Society |
After 3 days. The funds should then be returned electronically and the Society notified of the transmission (contact details as in 1.10) |
| First Direct | The advance must be returned by CHAPS within three working days of receipt. You must not make any deductions. The funds must be returned to the mortgage sort code and account number. You must telephone us to advise funds are being returned and to obtain the sort code and account number for funds to be retuned to. Please see 1.10b for contact details. |
| First Trust Bank |
If you are unable to complete drawdown within 7 business days please return the advance by cheque to: Mortgage Section Business Services Centre AIB NI 92 Ann Street Belfast BT1 3HH Mortgage.completions@aib.ie |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd | Please refer to the covering letter sent with each set of instructions. |
| Halifax |
The full amount of the mortgage advance as shown on the mortgage offer must be returned electronically, you must not deduct any charges as this can result in a delay for your client. Within 1 working day, the funds should be transmitted to sort code 30-15-99, account number 00579601. If funds are not returned promptly within the timescales above this can result in the customer incurring charges and interest on their mortgage account. In all cases you should quote the mortgage roll/account number and the appropriate reason for return code: • RAD – Returned advance • FADV – Returned further advance |
| Halifax Loans Ltd | Within 5 working days, by cheque to Completions, Mortgages Operations, Trinity Road, Halifax HX1 2RG (quoting our reference TR/3/MO/COMP, the borrower's surname and the mortgage roll number). |
| Hampden & Co. plc | |
| HSBC UK Bank plc | The advance must be returned by CHAPS within three working days of receipt. You must not make any deductions. You must quote the mortgage sortcode and account number. Please refer to section 17.1 of our Mortgage Lending Instructions and Guidance Notes (which can be accessed as per 1.10a) for the specific destination sort code and account number the funds will need to be returned to. Please note the destination sort code and account number is dependent on the third and fourth digit of the mortgage sortcode. |
| HSMS |
If completion is to be delayed for more than 5 working days you must return the advance by CHAPS to: Bank: National Westminster Bank PLC, 63 North Street, Keighley, BD21 3SB Account name: Bradford & Bingley Limited Sort code: 51-70-19 Account number: 80010237 Please quote reference code and the mortgage account number. We must be notified by telephone and fax. |
| Intelligent Finance | Within 7 days, by CHAPS to Sort Code 11-91-20 Account Number 00000000 (quoting the borrower's surname and initials and the Intelligent Finance plan number and jar name). |
| ITL Mortgages | Please refer to the covering letter sent with each set of instructions. |
| Kensington Mortgage Company Ltd | If Completion does not occur within 5 Business Days, all completion monies must be returned electronically. If possible, please inform us of the revised completion date when returning the completion monies. If you have been charged a fee for the funds to be released, this amount must not be deducted from the returned completion monies and the full advance amount must be returned to us. The borrower will be responsible for all charges (including any charge imposed on Kensington by Kensington's bank) in relation to the returned funds. Kensington is currently charged £4.95 to credit funds to its account (although this fee may vary from time to time). You must ensure that the returned funds cover all such charges such that we receive the full amount of the loan advanced when the funds are returned. Any queries please contact the New Business Operations Centre on Tel: 03444 990011. |
| Landmark Mortgages Limited |
"Please contact us regarding the return of funds if completion is to be delayed. Funds should be returned by telegraphic transfer to: Bank: NatWest Account Name: Landmark Mortgages Limited Sort Code: 51-70-19 Account Number: 80140262 (please also quote the mortgage application number in the payee field)." |
| Leeds Building Society |
If completion is delayed for more than one (1) working day, or will not occur at all, you must return the funds by CHAPS to the Society’s bank account. · For accounts with a case reference beginning with an ‘L’ please call us immediately on 03458 480061 to confirm you will be returning the funds and to obtain the Society’s bank details. · For accounts with a Mortgage Application Number please return the funds to: HSBC Sort Code: 40-64-38 Account Number: First 8 digits of the Mortgage Application Number You must notify us of the number of days that completion has been delayed and correctly quote the borrowers name and account number. You will be liable for accrued interest from the date of transfer of funds if funds are not returned after 1 day. |
| Lloyds Bank plc |
The full amount of the mortgage advance as shown on the mortgage offer must be returned electronically, you must not deduct any charges as this can result in a delay for your client: Where the mortgage roll/account number begins with 40/, within 1 working day and transmitted to sort code 30-15-99, account number 00578907. If funds are not returned promptly within the timescales above this can result in the customer incurring charges and interest on their mortgage account. In all cases you should quote the mortgage roll/account number and the appropriate reason for return code: • RAD – Returned Advance • FADV – Returned further advance • DUP – duplicate funds received in error. |
| Lloyds TSB Scotland plc |
After a delay of 1 working day, by CHAPS without deduction to: Lloyds TSB Scotland plc City Office PO Box 72 Bailey Drive Gillingham Business Park Gillingham ME8 0LS Sort Code: 30-00-02 Account Number: 00934459 Payee Name: Lloyds TSB Scotland PLC Mortgage Advances Fundflow Account. Please quote "RAD/" followed by the account number on the Mortgage Loan Agreement. When you are ready to complete, please contact Mortgage Processing and give at least 2 working days notice of the new date. |
| M&S Bank |
The advance must be returned by CHAPS within three working days of receipt, to: Sort code 40-01-06 Bank account number 92737019 You must not make any deductions. You must quote the mortgage account number. |
| Mortgage Express |
If completion is to be delayed for more than 5 working days you must return the advance by CHAPS to: Bank: National Westminster Bank PLC, 63 North Street, Keighley, BD21 3SB Account name: Bradford & Bingley Limited Sort code: 51-70-19 Account number: 80010237 Please quote reference code and the mortgage account number. We must be notified by telephone and fax. |
| Mortgage Express (No 2) |
If completion is to be delayed for more than 5 working days you must return the advance by CHAPS to: Bank: National Westminster Bank PLC, 63 North Street, Keighley, BD21 3SB Account name: Bradford & Bingley Limited Sort code: 51-70-19 Account number: 80010237 Please quote reference code and the mortgage account number. We must be notified by telephone and fax. |
| National Westminster Bank plc | By CHAPS within one working day of receipt to SORT CODE 60 06 57 ACCOUNT NUMBER 98090135 to arrive no later than the working day following the scheduled completion date. You must ensure all funds released to you, including the funds in respect of payment of your conveyancer's fees are returned with the mortgage advance if completion is delayed. |
| Nationwide Building Society |
If completion is delayed for more than 3 working days (unless we agree to longer), or will not occur at all, you must return the advance by the same method as received. Any interest accrued must be returned by cheque payable to Nationwide Building Society. Please do not return funds by Faster Payment. To return by BACS (Standard method of releasing advances) please use the following details: Sort code – 07 01 16 Account – 00 002 147 To return by CHAPS please use the following details: Sort code – 07 00 94 Account – 44 444 445 Please ensure to notify the Service Centre processing the mortgage application that the funds have been returned, including in the applicants' name and account number. If completion is delayed beyond the offer expiry date, we will allow the mortgage to proceed on the original offer terms provided completion takes place within 15 days of the original offer expiry date. |
| New Street Mortgages | If completion does not occur within 5 business days, all completion monies must be returned electronically. The full advance must be returned to us, including any fees that may have been deducted. You must also notify us in writing at New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW. Tel: 0333-300-3100, Fax: 0333-300-3132, email: enquiries@newstreetmortgages.com |
| NRAM Ltd |
Please contact us regarding the return of funds if completion is to be delayed. Funds should be returned by telegraphic transfer to: Bank: National Westminster Bank PLC, 63 North Street, Keighley, BD21 3SB Account name: NRAM Limited Sort code: 51-70-19 Account number: 80092071 (please also quote the mortgage application number in the Payee field) |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
Within 3 working days by CHAPS. Full details of bank account will be given by the office issuing mortgage instructions on request |
| Rooftop Mortgages Ltd |
Full details of the bank account will be given by the office issuing the Mortgage instructions |
| Sainsbury's Bank | If completion is delayed, or going to be delayed, by more than 5 working days from the completion date given in your certificate of Title, the advance should be returned by same day CHAPS transfer (without deduction) to the following account: sort code 40-02-50 account number 11371266. Please also quote the customer’s mortgage account number with the transfer and the Sainsbury’s Bank Reference as notified in the remittance advice. |
| Santander UK plc | Refer to our Certificate of Title for all administrative arrangements. |
| Scottish Widows Bank |
Within two business days after proposed completion date by CHAPS without deduction to:- Lloyds Bank plc PO Box 72, Bailey Drive, Gillingham Business Park, Gillingham Sort Code:- 30-18-05 Account Number:- 00009152 Payee Name:- Scottish Widows Bank Please quote reference:- client surname. |
| The Mortgage Business |
All completion monies must be returned electronically within 5 working days to sort code 11-03-87, account number 99917573, quoting the mortgage roll number and reason for return code:- DCP - Delayed Completion: NCO - Advance not going ahead: GEN - Any other returned funds. If the return code is GEN please notify the reason for return to Completions Department, Mortgage Services, Trinity Road, HX1 2RG. Fax no. 0845 1221034 Phone no. 0345 1207784. Please note, the full advance as shown on the mortgage offer must be returned. |
| The Royal Bank of Scotland plc |
By CHAPS quoting Sorting Code Number 830500 and Account Number 98090165 to arrive no later than the working day following the scheduled completion. You must ensure all funds released to you, including the funds in respect of payment of your conveyancers fees are returned with the mortgage advance if completion is delayed. |
| TSB Bank plc |
If the Mortgage Reference Number for the case begins with M53 After a delay of 1 working day by chaps without deduction to: TSB Bank PLC Sort Code: 30-28-86 Account Number: 90000099 Payee Name: TSB Bank PLC Please quote /RFB/ followed by the Mortgage Reference number in the Mortgage Offer. When you are ready to complete, please contact Mortgage Processing and give at least 2 working days notice of the new date. |
| UCB Home Loans Corporation Ltd |
See 10.6 & 10.7 - to a maximum of 7 days. The funds are to be returned by Telegraphic Transfer, quoting the Borrower(s) account reference (M....) to: HSBC Bank International Sort Code: 400515 Account No: 58696639 |
| Ulster Bank |
By CHAPS quoting Sorting Code Number 984800 and Account Number 98090014 to arrive no later than the working day following the scheduled completion date. You must ensure all funds released to you, including the funds in respect of payment of your conveyancers fees are returned with the mortgage advance if completion is delayed. |
| Virgin Money |
Funds need to be returned if completion hasn’t taken place within 5 working days of the completion date quoted in your certificate of title. Funds must be returned to us by CHAPS to: Bank: HSBC Bank plc Accoount Name: Virgin Money plc Delayed completions Sort Code: 40-63-98 Account Number: 81333410 (please also quote the mortgage application number in the Payee field) |
| Yorkshire Building Society |
Return the funds electronically to our bank account within one working day of completion date in Certificate. Details of our bank are: Bank: National Westminster Bank Plc Branch: City Centre, Bradford Sort Code: 56-00-36 Account No: 78735173 If not returned as above, or you do not quote correctly the borrower's name and account number, interest will be charged. |