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Question: 5.3.4. Does the lender accept search insurance?
| Lender | Answer |
|---|---|
| Accord Buy to Let |
Yes, subject to the requirements in Part 1 and provided you give an unqualified Certificate of Title. |
| Accord Mortgages Ltd | Yes, provided you give an unqualified Certificate of Title. |
| Adam & Company |
No |
| Adam & Company International |
No |
| Aldermore Bank PLC | Search insurance is only acceptable for remortgages or where the customer is purchasing the property -from personal into a company but where none of the individuals involved are changing (being added or removed) as part of the transaction, and only acceptable in respect of local authority searches, provided that our interests are fully protected. The insurance policy must cover our successors in title without limitation and the conveyancer must provide an unqualified Certificate of Title. Aldermore accept title insurance |
| Allied Irish Bank (GB), a trading name of AIB Group (UK) | Refer to AIB Group (UK) plc, Central Securities (GB), 92 Anne Street, Belfast, BT1 3H |
| Atom Bank plc |
Yes, for both purchases and re-mortgage applications, provided the search insurance is arranged at the conveyancer’s own risk. You must ensure the search insurance arranged adequately protects us, be satisfied that you will be able to certify that the title is good and marketable and provide an unqualified Certificate of Title. |
| Aviva Equity Release UK Ltd |
Please contact the lender. |
| Bank of China | No |
| Bank of Ireland (UK) plc |
For remortgage transactions only, of up to and including £1 million, we do not require the Solicitor to make a Local Authority search or to effect local search insurance. Instead we shall take out a local search indemnity policy at our own expense. We will be the sole named insured on the policy. The Solicitor is also not required to carry out any mining, Cheshire Brine or commons registration searches on our behalf for remortgages up to £1 million. However, we recommend these are undertaken, where appropriate, if not previously carried out on behalf of the applicant(s). For purchases, we will accept search insurance if you are prepared to proceed at your risk by giving an unqualified certificate of title on the basis that the search insurance you obtain adequately protects us. |
| Bank of Ireland as Bank of Ireland Mortgages |
For remortgage transactions only, of up to and including £1 million, we do not require the Solicitor to make a Local Authority search or to effect local search insurance. Instead we shall take out a local search indemnity policy at our own expense. We will be the sole named insured on the policy. The Solicitor is also not required to carry out any mining, Cheshire Brine or commons registration searches on our behalf for remortgages up to £1 million. However, we recommend these are undertaken, where appropriate, if not previously carried out on behalf of the applicant(s). For purchases, we will accept search insurance if you are prepared to proceed at your risk by giving an unqualified certificate of title on the basis that the search insurance you obtain adequately protects us. |
| Bank of Scotland Beginning A |
Yes, but in remortgage cases only. |
| Bank of Scotland Beginning O | Yes, but in remortgage cases only. |
| Barclays Bank UK PLC | Yes, provided adequate cover is arranged, at the Conveyancer's own risk. |
| Birmingham Midshires | Yes, provided that the solicitor is satisfied that our interests are adequately safeguarded |
| Bluestone Mortgages | No |
| Bradford & Bingley Limited |
Yes, provided you give an unqualified Certificate of Title. |
| Britannia, a trading name of The Co-operative Bank plc | No |
| Chelsea Building Society (a trading name of Yorkshire BS) | Yes, provided you give an unqualified Certificate of Title. |
| Clydesdale Bank plc |
Yes - the minimum cover must be the open market value of the property |
| Co-operative Bank plc |
Yes, for remortgages only, providing that the search insurance adequately protects us and you are satisfied that you will be able to certify that the title is good and marketable. Not accepted on purchases. |
| Coutts |
No |
| Coventry Building Society | No |
| Darlington Building Society | No |
| DB UK Bank Ltd |
Yes, provided: - the solicitor is satisfied that our interests are adequately safeguarded - the search insurance policy adequately protects us You must be satisfied that you will be able to certify the title is good and marketable |
| Ecology Building Society | Yes, providing the search insurance fully protects us and you are satisfied that you will be able to certify that the title is good and marketable |
| First Direct |
Yes, we will accept local authority search indemnity insurance at your own risk provided that the mortgage valuation of the property does not exceed £1 million and that you are satisfied the policy adequately protects us as mortgagee and that you give an unqualified Certificate of Title. At a minimum, the policy cover must be the open market value of the property. Other than local search indemnity insurance, no other search indemnity insurance is acceptable. |
| Foundation Home Loans |
FOR REMORTGAGE TRANSACTIONS ONLY: "No Search" indemnity insurance is acceptable provided: a. you are satisfied that our interests are adequately safeguarded b. the sum insured of the policy is an amount at least equal the open market value of the property c. you can certify that the title is good and marketable and d. you can provide a clear Certificate of Title You must confirm in your Certificate of Title whether full searches have been obtained or whether a no search indemnity policy is being procured. A copy of the policy must be provided to us on completion. PLEASE NOTE: No Search indemnity insurance is not accepted for remortgage transactions that relate to: • Houses in Multiple Occupation (HMO’s) • Multi-Unit Freehold Blocks (MUB’s) FOR PURCHASE TRANSACTIONS: "No Search" indemnity insurance is acceptable in lieu of all property related searches (save for Land Registry Searches) and we will also accept "No Search" indemnity insurance where the searches have recently expired provided: a. you are satisfied that our interests are adequately safeguarded b. the sum insured of the policy is an amount at least equal to the open market value of the property c. you can certify that the title is good and marketable and not fettered and d. you can provide a clear Certificate of Title PLEASE NOTE: "No Search" indemnity insurance is not accepted for purchase transactions that relate to: • Houses in Multiple Occupation (HMO’s) • Multi-Unit Freehold Blocks (MUB’s) |
| Furness Building Society | No. |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd | No |
| Halifax | Yes |
| Halifax Loans Ltd | Yes |
| Hampden & Co. plc | No. |
| Handelsbanken | Yes, provided you are still able to give an unqualified report on title. Please refer to Branch office instructing you before proceeding with insurance in place of searches. |
| Hodge |
Purchase; No Re-Mortgage; Yes, if the search insurance adequately protects us and you are satisfied that you will be able to certify that the title is good and marketable. Section 9 of the handbook must also be satisfied. |
| Hodge Equity Release |
Purchase; No Re-Mortgage; Yes, if the search insurance adequately protects us and you are satisfied that you will be able to certify that the title is good and marketable. Section 9 of the handbook must also be satisfied. |
| HSBC UK Bank plc | Yes, we will accept local authority search indemnity insurance at your own risk provided that the mortgage valuation of the property does not exceed £1 million and that you are satisfied the policy adequately protects us as mortgagee and that you give an unqualified Certificate of Title. At a minimum, the policy cover must be the open market value of the property. Other than local search indemnity insurance, no other search indemnity insurance is acceptable. |
| HSMS | No |
| Intelligent Finance | Yes |
| ITL Mortgages | No |
| Kensington Mortgage Company Ltd |
Unless the Mortgage Offer states otherwise: Re-mortgages - Local Authority search insurance is acceptable provided instructed solicitors: (a) arrange the insurance (b) are satisfied that it adequately protects Kensington (c) are able to certify that the title is good and marketable, and (d) have explained to the borrower(s) the risks of proceeding on the basis of such insurance in place of a search. Purchases – We will only accept local authority search insurance on purchase transactions provided contracts are exchanged before 1st April 2021 and that conditions (a) – (d) above are satisfied. |
| Landbay Partners Limited |
Search insurance is only accepted for remortgaging single self-contained properties. Search insurance must protect us adequately, the title must be good and marketable, and the certificate of title must be unqualified. All cases should be subject to due diligence. We exclude: 1- Houses in multiple occupation 2- Multi Unit buildings 3- Purchase of any type (except a purchase between linked companies where the directors are the same, or a purchase by a SPV company from a property personally owned where the directors and owners are the same) . 4- Loans over £750,000.00 (NET - excluding fees) 5- Unencumbered properties |
| Landmark Mortgages Limited |
Yes, on the understanding that the conveyancer does so at their own risk and a clear Certificate of Title is sent. |
| Leeds Building Society | Yes, subject to the requirements listed in Part 1 of this handbook (paragraph 5.3.4) and provided you give an unqualified Certificate of Title and are satisfied that our interests are safeguarded and not adversely affected. |
| Legal & General Home Finance Ltd | Yes, if obtaining a search is likely to delay completion and on the understanding that this is done at your own risk and provided you can give an unqualified certificate of title and are satisfied that our interest is protected. |
| LendInvest |
Yes, for both purchases and re-mortgage applications, adequate cover is arranged at the Conveyancer’s own risk. Please refer to us See 1.11a NOT ACCEPTED ON:- (1) Houses in multiple occupation (not applicable for Regulated Residential Lending as HMO is not an acceptable property type). (2) Multi unit building. (3) Purchases of any property type. (4) Any other searches. If you are in any doubt as to whether search insurance is acceptable to us, please contact us on the details provided in 1.11a. |
| LiveMore Capital | We accept search insurance providing it adequately protects us, that you can confirm that the title is good and marketable and can provide us with an unqualified Certificate of Title. The insurance should cover LiveMore Capital Limited as mortgagee, and any of our successors in title and the indemnity limit should be the full value of the property. The cost of the insurance should be charged to the borrower. |
| Lloyds Bank plc pre fixed 40 | Yes |
| Lloyds Bank plc pre fixed 50 | Yes |
| Lloyds TSB Scotland plc | Yes |
| M&S Bank | no |
| Magellan Homeloans | Yes, subject to the requirements in Part 1 and provided you give an unqualified Certificate of Title. |
| Masthaven Bank | Yes, provided that the protection is adequate. |
| Metro Bank Plc |
Yes, we would accept search insurance for both purchases and remortgages subject to: • The solicitor must ensure the policy arranged adequately protects us and the solicitor is satisfied they will be able to certify that the title is good and marketable. • The sum insured of the policy is an amount at least equal to the mortgage advance • The solicitor must advise the customer of the risks and limitations of the policy • The policy must be able to be assigned • The policy must be arranged by the solicitor acting for Metro Bank |
| Mortgage Agency Services | No |
| Mortgage Express |
Yes, provided you give an unqualified Certificate of Title. |
| Mortgage Express No 2 |
Yes, provided you give an unqualified Certificate of Title. |
| National Westminster Bank plc | Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| Nationwide Building Society |
For second-hand purchase transactions, we do not accept search insurance and we require a local search to be completed in all circumstances. For remortgage and additional borrowing transactions (with the following exception), we do not require a local search to be completed and we do not require search insurance. Exception – If the additional borrowing is to purchase land over which Nationwide’s charge will be registered then a local search is to be completed on the additional land, not forming part of the existing security. For new build cases, where the local search carried out on the original plot of land has expired, we will accept search insurance to cover any new risks that may have emerged since the local search was carried out. Any risks identified by a current or expired local search should be referred to us. For cases where there is a problem obtaining a local search, delayed search insurance can be obtained subject to the following: • you are confident that all local authority consents or an equivalent competent person scheme certificate, obtained from an appropriate registered competent person, have been obtained for alterations/planning permission/building regulations; and • there are no financial local land charges which will remain against the property on completion; and • you have advised the borrower in writing of the limitation of any delayed search insurance policy; and • any issues discovered are reported to the borrower/lender when the searches are obtained and appropriate remediation action taken. |
| Nedbank Private Wealth Ltd | We do not accept search insurance. |
| New Street Mortgages |
Yes, for remortgages only, providing that the search insurance adequately protects us and you are satisfied that you will be able to certify that the title is good and marketable. Not accepted on purchases. |
| NRAM Ltd | Yes on the understanding that the conveyance does so at their own risk and a clear Certificate of Title is sent. |
| Paragon Buy to Let Mortgages |
Yes, for remortgage applications, search insurance is acceptable for local authority searches only. This is provided that the local authority search insurance adequately protects us and you are satisfied that you can certify that the title is good and marketable and provide us with an unqualified Certificate of Title. Not Accepted on:- 1. Houses in multiple occupation. 2. Multi unit buildings 3. Purchases on any property type. 4. Any other searches. If you are in any doubt as to whether search insurance is acceptable to us, please contact us on the details provided in 1.11a. |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
Yes, for remortgages only, providing that the search insurance adequately protects us and you are satisfied that you will be able to certify that the title is good and marketable. Not accepted on purchases. |
| Precise Mortgages (Charter Court Financial Services Ltd) | Yes ? at your own risk and provided you are satisfied that our interests are safeguarded. |
| Rooftop Mortgages Ltd |
Not unless expressly stated in the special conditions of the Mortgage Offer |
| Sainsbury's Bank | Yes for remortgages only, subject to the requirements listed in Part 1 of this handbook (paragraph 5.3.4) and provided the search insurance adequately protects us and you can give an unqualified Certificate of Title.(excludes unencumbered properties) |
| Santander UK plc |
No - but the Conveyancer may do so at his own risk. |
| Scottish Building Society | Yes |
| Scottish Widows Bank | Yes |
| Skipton Building Society |
Yes, for purchases and re-mortgages at the Conveyancer's own risk. You must certify that the title is good and marketable and provide an unqualified Certificate of Title. Any policy must cover successors in title or be readily assignable (with no onerous terms). You should advise the customer of the risk of proceeding with the indemnity insurance and they should only proceed with knowledge. In addition to the above, our requirements under section 9 of the UK Finance Handbook will still need to be met. |
| St James Place Bank | Yes |
| The Mortgage Business |
Yes, provided the solicitor is satisfied that our interests are adequately safeguarded. |
| The Mortgage Lender Limited |
Not for residential (owner occupied) mortgages. For Buy to Let mortgages we will accept search insurance for purchases and re-mortgages. You must ensure the search insurance adequately protects us and certify that the title is good and marketable. Any search insurance policy should cover at least the following matters: 1 any issues that would be discovered from a search in the personal and property registers in Scotland (including but not limited to the Land Register of Scotland, the General Register of Sasines, and the Register of Inhibitions, Adjudications and Insolvencies); 2 any issues that would be discovered from a full set of enquiries of the appropriate local authority (including but not limited to a Property Enquiry Certificate); 3 any issues that would be discovered from an enquiry to the relevant sewerage or water undertaker in respect of sewerage or water matters; 4 any issues that would be discovered from an enquiry of the Coal Authority in respect of coal mining matters; and 5 any issues that would be discovered from a full set of enquiries made in relation to any other environmental matters; and 6. any issues that would be discoverable from a full set of enquiries made in relation to local community interests in land (including but not limited to a search in the Register of Community Interests in Land). |
| The Mortgage Works |
For second-hand purchase transactions, we do not accept search insurance and we require a local search to be completed in all circumstances. For remortgage transactions, we do not require a local search to be completed and we do not require search insurance. For new build cases, where the local search carried out on the original plot of land has expired, we will accept search insurance to cover any new risks that may have emerged since the local search was carried out. Any risks identified by a current or expired local search should be referred to us. For cases where there is a problem obtaining a local search, delayed search insurance can be obtained subject to the following: • you are confident that all local authority consents or an equivalent competent person scheme certificate, obtained from an appropriate registered competent person, have been obtained for alterations/planning permission/building regulations; and • there are no financial local land charges which will remain against the property on completion; and • you have advised the borrower in writing of the limitation of any delayed search insurance policy; and • any issues discovered are reported to the borrower/lender when the searches are obtained and appropriate remediation action taken. |
| The Royal Bank of Scotland plc | Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| The Royal Bank of Scotland plc Direct Line Mortgages |
Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| The Royal Bank of Scotland plc Direct Line One |
Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| The Royal Bank of Scotland plc First Active |
Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| The Royal Bank of Scotland plc Natwest one Account |
Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| The Royal Bank of Scotland plc One Account | Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| The Royal Bank of Scotland plc Virgin One |
Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| Topaz Finance Ltd | No |
| TSB Bank plc | Yes |
| UCB Home Loans Corporation Ltd |
At your own risk and only if obtaining a search is likely to delay completion. |
| Ulster Bank | Yes, providing the search insurance adequately protects us and you are able to certify that the title is good and marketable. |
| Vida Homeloans | No, unless the Offer states otherwise. You should satisfy yourselves as to the policy terms on behalf of the borrower(s). |
| Virgin Money | Yes, but the search insurance policy must protect us (see section 9 of the Lenders' Handbook). |
| Whistletree (a trading name of TSB Bank plc) | Yes, on the understanding that the conveyancer does so at their own risk and a clear Certificate of Title is sent |
| Yorkshire Bank Home Loans Ltd |
Yes - the minimum cover must be the open market value of the property |
| Yorkshire Building Society |
Yes, provided you give an unqualified Certificate of Title. |