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Question: 10.2. What is the minimum number of days notice lenders require?
| Lender | Answer |
|---|---|
| Accord Buy to Let |
We do not carry out final inspections. We must receive your Certificate of Title and Request for Advance (the "Certificate") at least six working days before completion. The advance monies will be sent to your client account (you must provide details in the Certificate) on the last working day prior to the completion date. Occasional delays in transmitting advance monies can occur as a result of a breakdown in the external CHAPS system. No responsibility can be accepted for losses arising from any such delays. |
| Accord Mortgages Ltd |
No final inspection - we must receive your Certificate of Title and Request for Advance (the "Certificate") at least six working days before settlement. Final inspection required - an extra five working days should be allowed. The advance monies will be sent to your client account (you must provide details in the Certificate) on the last working day prior to the settlement date. Occasional delays in transmitting advance monies can occur as a result of a breakdown in the external CHAPS systems. No responsibility can be accepted for losses arising from any such delays. |
| Adam & Company | 7 days |
| Adam & Company International |
7 days |
| Aldermore Bank PLC | 3 working days. |
| Allied Irish Bank (GB), a trading name of AIB Group (UK) | Three days |
| Atom Bank plc | 3 working days' notice |
| Aviva Equity Release UK Ltd | 4 working days |
| Bank of China | 5 full working days. |
| Bank of Ireland (UK) plc | 3 working days - plus an additional 5 working days if a final inspection of the property is required. |
| Bank of Ireland as Bank of Ireland Mortgages | 3 working days - plus an additional 5 working days if a final inspection of the property is required. |
| Bank of Scotland Beginning A |
Our expected requirement is 3 full working days. It is your responsibility to ensure all details on the Certificate of Title are correct (including those relating to your firm) and are accurate before requesting the funds. If you have an urgent completion and cannot give 3 full working days’ notice, we will endeavour to meet your requirements and will send funds by CHAPS as soon as we have verified the Certificate of Title. A CHAPS fee of £20 will be payable and deducted from the mortgage advance. |
| Bank of Scotland Beginning O |
Our expected requirement is 3 full working days. It is your responsibility to ensure all details on the Certificate of Title are correct (including those relating to your firm) and are accurate before requesting the funds. If you have an urgent completion and cannot give 3 full working days’ notice, we will endeavour to meet your requirements and will send funds by CHAPS as soon as we have verified the Certificate of Title. A CHAPS fee of £20 will be payable and deducted from the mortgage advance. |
| Barclays Bank UK PLC | 5 working days |
| Birmingham Midshires |
Our expected requirement is 3 full working days. It is your responsibility to ensure all details on the Certificate of Title are correct (including those relating to your firm) and are accurate before requesting the funds. If you have an urgent completion and cannot give 3 full working days’ notice, we will endeavour to meet your requirements and will send funds by CHAPS as soon as we have verified the Certificate of Title. |
| Bluestone Mortgages | Five business days. |
| Bradford & Bingley Limited |
5 days |
| Britannia, a trading name of The Co-operative Bank plc |
5 working days |
| Chelsea Building Society (a trading name of Yorkshire BS) |
No final inspection - we must receive your Certificate of Title and Request for Advance (the "Certificate") at least six working days before settlement. Final inspection required - an extra five working days should be allowed. The advance monies will be sent to your client account (you must provide details in the Certificate) on the last working day prior to the settlement date. Occasional delays in transmitting advance monies can occur as a result of a breakdown in the external CHAPS system. No responsibility can be accepted for losses arising from any such delays. |
| Clydesdale Bank plc | 5 days |
| Co-operative Bank plc | Five working days. |
| Coutts |
7 days |
| Coventry Building Society |
At least 4 clear working days. |
| Darlington Building Society |
The Society requires at lease 1 working day prior to completion. |
| DB UK Bank Ltd | 5 working days |
| Ecology Building Society |
5 days |
| First Direct |
Prerequisites for submission: You MUST ensure that all pre completion queries are resolved prior to submitting the Certificate of Title (CoT) to us, see section 1.11b for Contact Points for queries. WARNING: Any pre completion queries outstanding at time of submission or received after CoT submission, will result in rejection of the CoT. A new CoT will then need to be submitted once all queries are resolved. NOTE: where there is more than one loan on the mortgage offer, only one CoT is required. Submission: You MUST give us a minimum of Six (6) working days’ notice. The CoT must be submitted electronically using the prescribed form which is available from Legal instructions for moving home, www.firstdirect.com/legal-instructions. A CoT submitted via any other method or in any other form will not be accepted. You must specify the completion day in the CoT and also the day on which you would like to receive the mortgage advance (which should either be the working day prior to the completion day or the completion day itself). NOTE 1: The advance amount should always be in full pounds sterling with no additional pence. NOTE 2: Where there is more than one loan on the mortgage offer, only one CoT is required. |
| Foundation Home Loans | 5 working days unless otherwise advised. |
| Furness Building Society |
Five working days. |
| GE Money Home Lending Ltd |
GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd |
At least 4 clear working days. |
| Halifax |
Our expected requirement is 3 full working days. It is your responsibility to ensure all details on the Certificate of Title are correct (including those relating to your firm) and are accurate before requesting the funds. If you have an urgent completion and cannot give 3 full working days’ notice, we will endeavour to meet your requirements and will send funds by CHAPS as soon as we have verified the Certificate of Title. |
| Halifax Loans Ltd |
Electroniaclly 3 working days. By cheque - 24 hours. |
| Hampden & Co. plc | 7 working days. |
| Handelsbanken | 5 working days. |
| Hodge |
5 working days - The advance monies will be sent to your client account (you must provide details in the Certificate of Title) on the last working day prior to the completion date. Occasional delays in transmitting advance monies can occur as a result of a breakdown in the external CHAPS system. No responsibility can be accepted for losses arising from such delays. |
| Hodge Equity Release | 5 working days - The advance monies will be sent to your client account (you must provide details in the Certificate of Title) on the last working day prior to the completion date. Occasional delays in transmitting advance monies can occur as a result of a breakdown in the external CHAPS system. No responsibility can be accepted for losses arising from such delays. |
| HSBC UK Bank plc |
Prerequisites for submission: You MUST ensure that all pre completion queries are resolved prior to submitting the Certificate of Title (CoT) to us, see section 1.11b for Contact Points for queries. WARNING: Any pre completion queries outstanding at time of submission or received after CoT submission, will result in rejection of the CoT. A new CoT will then need to be submitted once all queries are resolved. NOTE: where there is more than one loan on the mortgage offer, only one CoT is required. Submission: You MUST give us a minimum of 6 working days’ notice. The CoT must be submitted in electronic form using the LMS Conveyancer Zone Portal. A CoT submitted via any other method or in any other form will not be accepted. You must specify the completion day in the CoT and also the day on which you would like to receive the mortgage advance (which should either be the working day prior to the completion day or the completion day itself). The following CoT fields will be prefilled by HSBC UK and if any change is required, you must contact us in advance to request the change and should not submit the eCOT until the changes have been made and the information is correct: • Borrowers • Property Address • Transfer Price (this field can be edited by you but you must notify us of any change before submitting the CoT) • Mortgage Advance |
| HSMS |
5 days |
| Intelligent Finance |
7 days |
| ITL Mortgages | At least 4 clear working days. |
| Kensington Mortgage Company Ltd | A minimum of 5 Business Days' notice is required from receipt of the Certificate of Title to Completion or 8 Business Days if a re-inspection is required. remove the rest. |
| Landbay Partners Limited | Note that we normally require a minimum of 5 workings days' notice upon submission of the certificate of title. However, there may be extended periods of notice approaching seasonal holidays. If this is the case, we will advise you |
| Landmark Mortgages Limited | We require four clear working days' notice for drawdown of the mortgage advance. |
| Leeds Building Society | Five (5) working days. |
| Legal & General Home Finance Ltd | 5 working days |
| LendInvest |
48 hours |
| LiveMore Capital |
Minimum of 5 working days to proposed completion date. If the Certificate of Title is received by us after 4.00pm on a given working day then for this purpose it will be treated as having been received on the following working day. |
| Lloyds Bank plc pre fixed 40 |
Our expected requirement is 3 full working days. It is your responsibility to ensure all details on the Certificate of Title are correct (including those relating to your firm) and are accurate before requesting the funds. If you have an urgent completion and cannot give 3 full working days’ notice, we will endeavour to meet your requirements and will send funds by CHAPS as soon as we have verified the Certificate of Title. A CHAPS fee of £20 will be payable and deducted from the mortgage advance. |
| Lloyds Bank plc pre fixed 50 |
5 full working days |
| Lloyds TSB Scotland plc |
5 full working days |
| M&S Bank |
Six working days. You must specify the date by which you would like to receive the mortgage advance, which should be no more than one (1) working day prior to completion, and also the actual completion date on the Certificate of Title. |
| Magellan Homeloans | A minimum of 6 business days from us receiving the original COT |
| Masthaven Bank | Five business days. |
| Metro Bank Plc | 5 working days |
| Mortgage Agency Services | 10 days |
| Mortgage Express |
5 days |
| Mortgage Express No 2 |
5 days |
| National Westminster Bank plc |
7 days |
| Nationwide Building Society |
5 working days |
| Nedbank Private Wealth Ltd | The letter gives the number of days notice required. |
| New Street Mortgages | A minimum of 5 Business Days' notice is required from receipt of the Certificate of Title to Completion or 8 Business Days if a re-inspection is required. |
| NRAM Ltd | We require 4 clear working days' notice for drawdown of the mortgage advance. |
| Paragon Buy to Let Mortgages | Seven working days, 10 working days where a reinspection or revaluation report is required. |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
5 working days. |
| Precise Mortgages (Charter Court Financial Services Ltd) | We cannot complete under any circumstances without 3 calendar days' notice and the borrower(s) is expected to be available in the UK on the day of Completion so we can contact them; if they are not we may delay the release of funds. |
| Rooftop Mortgages Ltd |
Not Applicable |
| Sainsbury's Bank | 5 working days. |
| Santander UK plc |
5 working days wherever possible. |
| Scottish Building Society | 1 day |
| Scottish Widows Bank | 7 days |
| Skipton Building Society | Seven days. We will, without obligation or liability, seek to release funds with less notice provided there are no outstanding issues. Please do not request funds on less than 48 hours notice. |
| St James Place Bank | 7 days |
| The Mortgage Business |
3 full working days. If you have an urgent completion and cannot give 3 full working days notice we will endeavour to release funds by an alternative method and a charge of £30 will be deducted from the mortgage advance. |
| The Mortgage Lender Limited | 5 working days. |
| The Mortgage Works |
5 working days or 10 working days is a re-inspection is required |
| The Royal Bank of Scotland plc |
7 days |
| The Royal Bank of Scotland plc Direct Line Mortgages |
7 working days. |
| The Royal Bank of Scotland plc Direct Line One | 7 working days. |
| The Royal Bank of Scotland plc First Active |
7 working days. |
| The Royal Bank of Scotland plc Natwest one Account | 7 working days. |
| The Royal Bank of Scotland plc One Account | 7 working days. |
| The Royal Bank of Scotland plc Virgin One | 7 working days. |
| Topaz Finance Ltd | Five working days |
| TSB Bank plc |
5 working days' notice. Funds will be released on the day of completion stated on Certificate of Title. However, if funds are required the working day before completion, please enter this date as the completion date in the ECoT. This will be the date that we release funds to you. When requesting funds for the working day before completion, please be aware that interest is charged from the day funds are released. Where completion is set for the first working day of the month and funds are to be released the working day before, the customers first payment will be collected that month i.e. requests for funds on the 30 November for completion on 1 December, the customers first payment will be taken in December. When requesting funds for the working day before completion please ensure all customers are aware and are in agreement as interest will accrue from the day funds are released and this will affect their first monthly payment date and amount. Please note our answer to 10.3 in relation to the amount of the loan funds you will receive. |
| UCB Home Loans Corporation Ltd |
5 working days or 10 working days if a reinspection is required |
| Ulster Bank |
7 days |
| Vida Homeloans | A minimum of 5 Business Days' notice is required from receipt of the Certificate of Title to Completion or 8 Business Days if a re-inspection is required. |
| Virgin Money |
No later than 5pm on the working day before completion. |
| Whistletree (a trading name of TSB Bank plc) | We require four clear working days' notice for drawdown of the mortgage advance. |
| Yorkshire Bank Home Loans Ltd | 5 days |
| Yorkshire Building Society |
No final inspection - we must receive your Certificate of Title and Request for Advance (the "Certificate") at least six working days before settlement. Final inspection required - an extra five working days should be allowed. The advance monies will be sent to your client account (you must provide details in the Certificate)on the last working day prior to the settlement date. Occasional delays in transmitting advance monies can occur as a result of a breakdown in the external CHAPS system. No responsibility can be accepted for losses arising from any such delays. |