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Question: 9.1. Does the lender need to be sent the indemnity insurance policy?
| Lender | Answer |
|---|---|
| Accord Buy to Let |
Yes, to be sent with the deeds after settlement. |
| Accord Mortgages Ltd |
Yes, to be sent with the deeds after settlement. |
| Adam & Company |
No. However, you must provide full details of the indemnity insurance policy in your Certificate of Title. If there is more than one policy, you must also provide us with full details of the additional policies. Offset Flexible Mortgage - Yes, after settlement. |
| Adam & Company International |
No. However, you must provide full details of the indemnity insurance policy in your Certificate of Title. If there is more than one policy, you must also provide us with full details of the additional policies. Offset Flexible Mortgage - Yes, after settlement. |
| Aldermore Bank PLC | No, borrowers to retain. Where you identify an issue that could be mitigated by the use of an insurance product, you should inform us of the issue and your recommendation as to the use of Indemnity Insurance. We will consider the case and inform you of our decision. We would only proceed if we were content that indemnity insurance was an acceptable solution (some issues, for example, might be such that they require referral back to the valuer |
| Allied Irish Bank (GB), a trading name of AIB Group (UK) | No |
| Atom Bank plc | Yes |
| Aviva Equity Release UK Ltd | Yes |
| Bank of China |
No, these are to be placed with the documents for the customer(s) own retention. You must ensure that the customer(s) are made aware of the importance of retaining these documents. |
| Bank of Ireland (UK) plc |
Yes, to be placed with the title deeds after completion. |
| Bank of Ireland as Bank of Ireland Mortgages |
Yes, to be placed with the title deeds after completion. |
| Bank of Scotland Beginning A | Yes, certified copy after settlement. Please retain with Title Deeds. |
| Bank of Scotland Beginning O | Yes, certified copy after completion. Please retain with Title Deeds. |
| Barclays Bank UK PLC | Only after completion with the title deeds. It should not be sent to the bank before for us to comment upon. It is considered the conveyancers duty to make sure the policy complies with the requirements in 9.2 below. |
| Birmingham Midshires | No, borrower to retain. You should however submit details of the policy with the Certificate of Title |
| Bluestone Mortgages | No, but please keep a copy of it on your file. |
| Bradford & Bingley Limited |
Yes, after completion with the title deeds. |
| Britannia, a trading name of The Co-operative Bank plc |
Yes with Deeds |
| Chelsea Building Society (a trading name of Yorkshire BS) | Yes, to be sent with the deeds after settlement. |
| Clydesdale Bank plc |
Yes, after completion |
| Co-operative Bank plc |
Yes, certified copy with the deeds after settlement. |
| Coutts |
No. However, you must provide full details of the indemnity insurance policy in your Certificate of Title. If there is more than one policy, you must also provide us with full details of the additional policies. Offset Flexible Mortgage - Yes, after settlement. |
| Coventry Building Society |
Yes, after Completion |
| Darlington Building Society |
No - Please include Buildings Insurance Company and Policy Number on the Certificate of Title. Borrower is to retain policy documents. |
| DB UK Bank Ltd | Yes |
| Ecology Building Society | Yes |
| First Direct |
Yes on completion |
| Foundation Home Loans | No. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. The policy should be retained by the borrower and you should retain a copy on your file. |
| Furness Building Society |
Yes, after completion with the title deeds. |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd |
Yes, after Completion |
| Halifax |
Yes, after settlemenmt. Please place with the title documents. |
| Halifax Loans Ltd |
Yes, after settlemenmt. Please place with the title documents. |
| Hampden & Co. plc | Please retain with the title deeds. |
| Handelsbanken | Yes, following completion. |
| Hodge | No.- However you must provide full details of indemnity insurance in the Certificate of Title. Where more than one policy is in existence you must also provide us with full details of the additional policies. Please pass a copy to the borrowers for safe keeping and retain a copy for your file |
| Hodge Equity Release | No.- However you must provide full details of indemnity insurance in the Certificate of Title. Where more than one policy is in existence you must also provide us with full details of the additional policies. Please pass a copy to the borrowers for safe keeping and retain a copy for your file |
| HSBC UK Bank plc | Yes on completion |
| HSMS | As 1.11a |
| Intelligent Finance |
No, please forward to the borrower. |
| ITL Mortgages | Yes, after Completion |
| Kensington Mortgage Company Ltd |
Yes. A copy is acceptable. To be forwarded to: Deeds Administration, Kensington Mortgage Company Ltd, PO Box 4760, Maidenhead, SL60 1HU following completion. |
| Landbay Partners Limited | No. In the event that we agree to indemnity cover you should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. |
| Landmark Mortgages Limited |
Yes, after settlement with the title deeds. |
| Leeds Building Society | No, but please retain a copy on your file. |
| Legal & General Home Finance Ltd | Yes, after completion. |
| LendInvest |
We accept indemnity insurance where the circumstances of the transaction, and your attention is drawn to part 1 paragraph 5.11, suggest that it is required in order to protect us against our security being set aside. In any such case you are expected to contact us, as set out in 1.11a, with your advice and recommendations on or before submitting the Certificate of Title. We would also ask that you remind the borrower that it is their responsibility to ensure that they have fully complied with any and all UK tax legislation which may be relevant to the transaction. In addition, where you identify any other issue that could be mitigated by the use of an insurance product, you should inform us of the issue and your recommendation as to the use of Indemnity Insurance. We will consider the case and inform you of our decision. We would only proceed if we were content that indemnity insurance was an acceptable solution (some issues, for example, might be such that they require referral back to the valuer). Where we agree to accept indemnity insurance we do not require a copy of the indemnity insurance policy. However, a copy should be passed to the borrowers (who should be reminded of the importance of retaining this document) and a copy retained on your file. You should also confirm if any insurance has or will be put in place when submitting the Certificate of Title and confirm why the insurance is required, the details of the insurance company and the policy number. Please note that, in any event, we only accept policies from reputable and premium providers. We also require any policy to cover any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable, of the mortgage and/or anyone entitled to exercise rights under the mortgage documents). We do not accept self-issued policies. |
| LiveMore Capital | Yes. Please send to the address shown in Section 1.11a |
| Lloyds Bank plc pre fixed 40 |
The schedule should be sent to us after settlement. |
| Lloyds Bank plc pre fixed 50 |
Yes, with the title deeds |
| Lloyds TSB Scotland plc |
Yes, with the title deeds |
| M&S Bank | yes on completion |
| Magellan Homeloans |
Where you identify an issue that you believe could be mitigated by the use of an insurance product, you should inform us of this and ensure it meets the requirements under 9.2. Where indemnity insurance is used we do not require a copy of the indemnity insurance policy. However, a copy should be passed to the borrowers (who should be reminded of the importance of retaining this document) and a copy retained on your file. You should also confirm the details of the insurance company and the policy number. |
| Masthaven Bank | No, but please keep a copy with your file. |
| Metro Bank Plc | No - to be held on file with the title deeds and documents after completion. |
| Mortgage Agency Services |
Yes, with original mortgage deed, associated documents and papers |
| Mortgage Express |
Yes, after completion, with the title deeds. |
| Mortgage Express No 2 |
Yes, after completion, with the title deeds. |
| National Westminster Bank plc | No. However, you must provide full details of the indemnity insurance policy in your Certificate of Title. If there is more than one policy, you must also provide us with full details of the additional policies. |
| Nationwide Building Society |
No. Please include Insurance Company and Policy No. on Certificate of Title. Borrower(s) to retain policy document Please note that we do not require an indemnity policy to be taken out when the purchaser has received a cash gift which forms part or all of their deposit. |
| Nedbank Private Wealth Ltd | Any policy is to be sent to us after completion. |
| New Street Mortgages |
Yes, a copy should be sent to New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW. and the original forwarded to the borrower |
| NRAM Ltd | Yes, after settlement with the title deeds. |
| Paragon Buy to Let Mortgages | Yes, after completion. Please place with the title deeds. |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
Yes, placed with the deeds. |
| Precise Mortgages (Charter Court Financial Services Ltd) | No ? you should however submit details of the policy with the Certificate of Title. You must ensure that the customer(s) are made aware of the importance of retaining this document. |
| Rooftop Mortgages Ltd |
Yes. Please place with the Title Deeds. |
| Sainsbury's Bank | Yes, this should be sent to us after completion. |
| Santander UK plc |
Where title is registered in the Land Register - No, however, you must provide the name of the insurer, the policy number and the type of policy. Where title is recorded in the General Register of Sasines - Yes, after settlement. |
| Scottish Building Society |
This should be placed with the Title Deeds and a copy sent to the Society. |
| Scottish Widows Bank | Yes, after completion |
| Skipton Building Society | No, but please note we require you to report to the Completions Team via LMS Secure Link if the policy will not cover our successors in title. |
| St James Place Bank |
Yes, after completion. |
| The Mortgage Business |
Yes, certified copy after settlement. Please place with the Title documents. |
| The Mortgage Lender Limited |
We accept indemnity insurance where the circumstances of the transaction, suggest that it is required in order to protect us against our security being set aside. In any such case you are expected to contact us, as set out in 1.11a, with your advice and recommendations on or before submitting the Certificate of Title. We would also ask that you remind the borrower that it is their responsibility to ensure that they have fully complied with any and all UK tax legislation which may be relevant to the transaction. In addition, where you identify any other issue that could be mitigated by the use of an insurance product, you should inform us of the issue and your recommendation as to the use of Indemnity Insurance. We will consider the case and inform you of our decision. We would only proceed if we were content that indemnity insurance was an acceptable solution (some issues, for example, might be such that they require referral back to the valuer). Where we agree to accept indemnity insurance we do not require a copy of the indemnity insurance policy. However, a copy should be passed to the borrowers (who should be reminded of the importance of retaining this document) and a copy retained on your file. You should also confirm if any insurance has or will be put in place when submitting the Certificate of Title and confirm why the insurance is required, the details of the insurance company and the policy number. Please note that, in any event, we only accept policies from reputable and premium providers. We also require any policy to cover any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable, of the mortgage and/or anyone entitled to exercise rights under the mortgage documents). We do not accept self-issued policies. |
| The Mortgage Works |
No, confirmation that you are holding the actual policy must be given on producing the Certificate of Title. We do not require an indemnity policy to be taken out when the purchaser has received a cash gift which forms part or all of their deposit. |
| The Royal Bank of Scotland plc | No. However, you must provide full details of the indemnity insurance policy in your Certificate of Title. If there is more than one policy, you must also provide us with full details of the additional policies. |
| The Royal Bank of Scotland plc Direct Line Mortgages |
Yes, after settlement. |
| The Royal Bank of Scotland plc Direct Line One |
As detailed above in 1.11a. |
| The Royal Bank of Scotland plc First Active |
No. However, you must provide full details of the indemnity insurance policy in your Certificate of Title. If there is more than one policy, you must also provide us with full details of the additional policies. |
| The Royal Bank of Scotland plc Natwest one Account |
No, however, required after completion for cases instructed prior to 5/12/2011. |
| The Royal Bank of Scotland plc One Account |
No, however, required after completion for cases instructed prior to 5/12/2011. |
| The Royal Bank of Scotland plc Virgin One |
No, however, required after completion for cases instructed prior to 5/12/2011. |
| Topaz Finance Ltd |
Yes, after completion. |
| TSB Bank plc | Yes, with the title deeds |
| UCB Home Loans Corporation Ltd |
No, confirmation that you are holding the actual policy must be given on producing the Certificate of Title |
| Ulster Bank |
Yes, after settlement |
| Vida Homeloans |
Yes to : Mortgage Services Vida Homeloans Gateway House Gargrave Road Skipton North Yorkshire BD23 2HL Where you identify any issue that could be mitigated by the use of indemnity insurance, you should inform us of the issue and your recommendation as to the use of indemnity insurance in mitigating this issue. We will consider the case and inform you of our decision. Where we agree to accept indemnity insurance, we require a copy of the indemnity insurance policy after completion. You should also confirm if any insurance has or will be put in place when submitting the Certificate of Title and confirm why the insurance is required, the details of the insurance company and the policy number. Please note that, in any event, we only accept policies from reputable and premium providers. You should ensure that the policy is sufficient to allow you to certify that the title to the property is good and marketable. We require the policy to cover the borrower(s), any successors in title and any mortgagee (including any transferee or assignee, whether legal or equitable) of the mortgage and/or anyone entitled to exercise rights under the mortgage. |
| Virgin Money | The documents we need post-settlement are listed in our current Deeds Schedule. |
| Whistletree (a trading name of TSB Bank plc) | Yes, after settlement with the title deeds. |
| Yorkshire Bank Home Loans Ltd |
Yes, after completion |
| Yorkshire Building Society |
Yes, to be sent with the deeds after settlement. |