Change Date : 05/01/2016
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2016 No.1


Policy changes relevant to
Kent Reliance Solicitor Panel

Updated 27/11/2015 05/01/2016
5.4.6- Does the lender accept search insurance and, if yes, what are the lender's specific requirements? Yes, for re-mortgages only. You must ensure the search insurance adequately protects us and certify that the title is good and marketable.

Please note, we only accept search insurance for local searches.
Yes, for re-mortgages only. You must ensure the search insurance adequately protects us and certify that the title is good and marketable.
5.7.1a- Does the lender lend on flying freeholds? Yes where only part of the subject property is affected. The requirements in part 1 paragraphs 5.6.2 must be adhered Yes where only part of the subject property is affected. The requirements in part 1 paragraphs 5.7.2 must be adhered
5.7.1c- If the lender is prepared to accept a title falling within 5.7 and the property is a freehold flat or flying freehold, to which contact point must this be reported? Provided only part of the subject property is affected by a flying freehold and the requirements of part 1 paragraphs 5.6.2 are adhered to there is no requirement to report Provided only part of the subject property is affected by a flying freehold and the requirements of part 1 paragraphs 5.7.2 are adhered to there is no requirement to report
5.14.1- What minimum unexpired lease term does the lender accept? 75 yrs subject to at least 50 yrs remaining at the end of the mortgage term A minimum of 50 years must remain at the end of the mortgage term
5.20.1- Does the lender require me to report to them where the lease does not meet the CML minimum requirements for leases of roof space for solar PV panels? [ Original answer is blank ] Yes
5.20.3- Does the lender have additional requirements relating to leases of roof space for solar PV panels, and if so, what are they? [ Original answer is blank ] The minimum CML requirements must be met. In addition, the lease must provide a valid mortgagee break clause which can be exercised on possession. The costs of removing the Solar PV Panels and making good any damage on exercise of the break clause must be the responsibility of the Solar PV Panels provider.
6.6.4- Does the lender lend where the property comes within the definition of a house in multiple occupation? If yes, what are your requirements? Yes up to maximum of 8 rooms

If over 3 rooms then it must be registered with
the local authority and licence obtained
Please refer to special conditions in the mortgage offer
8.1- Does the lender allow me to advise any of the specified third parties? Yes No, they must receive independent legal advice
14.2.2- Which documents must I send after completion? Title Information document
Original
Mortgage Deed
Lease if leasehold
Consent
& Undertaking of occupier(s)
Lenders copy New Homes Warranty
If Shared Ownership
- Housing Association's approval of the mortgage where required by the lease
Title Information Document
Original
Mortgage Deed
Original Lenders NHBC documentation/guarantee or alternative as applicable
Title Indemnity Policy where applicable
Where the property is leasehold, the original lease/sublease together with receipted freeholders’ notice and share certificate in the borrower name(s) where appropriate
Consent
& Undertaking forms of any occupiers
Consent to mortgage
- where shared ownership
Notice
of Assignment and Charge - where leasehold property
Landlord’s Undertaking - where leasehold/shared ownership
Original Guarantee
Original Companies House certificate or registration - wherethe borrower is a company or LLP
16.3.7b- What form of attestation clause does the lender use? Executed as a Deed by OneSavings Bank Plc:


Duly Authorised Officer in
the presence of (Name)............
(Address)..........
(Occupation).........
Signed on behalf of OneSavings Bank plc
Acting by its *Director / *Attorney
(please delete as appropriate)

in
the presence of:
Witness Name:
Witness Address:
Witness Occupation:
17.2.1b- Does the lender send the discharge via a DS 1 form or direct with the Land Registry? DS1 Direct with the Land Registry