Change Date : 01/12/2014
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2014 No.1590


Policy changes relevant to
The Mortgage Business Solicitor Panel

Updated 25/07/2014 01/12/2014
3.1.5- What other documents are acceptable for verifying identity? [ Original answer is blank ] List A - employer's identity card with the signatory's photograph and signature (provided you know the employer).
List B - employer's identity card with signatory's photograph and signature (if you do not know the employer) - current UK driving licence (full old paper version) - Building Industry Sub-Contractor's Certificate (issued by Inland Revenue) - Benefits agency Benefit book or original notification letter from the Benefits Agency confirming rights to benefits - Inland Revenue Tax Code Notification - Residence Permit (issued by the Home Office to EU Nationals) - Local council rent card or tenancy agreement.
3.1.6- What other documents are acceptable for verifying identity? List A - employer's identity card with the signatory's photograph and signature (provided you know the employer).
List B - employer's identity card with signatory's photograph and signature (if you do not know the employer) - current UK driving licence (full old paper version) - Building Industry Sub-Contractor's Certificate (issued by Inland Revenue) - Benefits agency Benefit book or original notification letter from the Benefits Agency confirming rights to benefits - Inland Revenue Tax Code Notification - Residence Permit (issued by the Home Office to EU Nationals) - Local council rent card or tenancy agreement.
[ New answer is blank ]
4.1- Is there a valuation report and if so, does the lender provide it? We may not arrange for a physical inspection of the property.

Where
a valuation report is obtained this will be in an electronic format that cannot be forwarded. You must obtain a copy from your customer (s) or, where the valuation has been carried out on our behalf by a packaging company, from the Packager.
We may not arrange for a physical inspection of the property.

Where
a valuation report is obtained this will be in an electronic format that cannot be forwarded. You must obtain a copy of the valuation report we have provided to your customer(s).
5.5.1a- Does the lender limit its requirements in terms of time for planning consents? If so, please specify: No [ New answer is blank ]
5.5.1b- Does the lender limit its requirements in terms of time for building regulation consents? If so, please specify: No [ New answer is blank ]
6.14.1- Does the lender have any further requirements in relation to buildings insurance? [ Original answer is blank ] You should remind the borrower that, where the insurer allows;

·the property should be insured in the joint names of ourselves and the borrower; or

·our interest noted on the policy

You will not be provided with a buildings insurance cover figure for the property and you are not therefore required to check this.
6.14.1a- If different from 1.11, contact point if property is not insured in accordance with your requirement: The Mortgage Business, PO Box 548, Leeds LS1 1WU. Fax no. 0845 6039009 [ New answer is blank ]
6.14.1b- Does the lender need the buildings insurance in joint names or its interest noted? We require the insurance to be in our joint names. Where this is not possible, eg where the property is leasehold and the landlord insures, our interest must be noted. [ New answer is blank ]
6.14.1c- What are the lender's requirements if the total sum insured is less than the total number of flats multiplied by the amount set out in the mortgage offer? Please refer to The Mortgage Business, PO Box 548, Leeds LS1 1WU. Fax no. 0845 6039009 [ New answer is blank ]
6.14.1d- What is the maximum excess the lender will accept on buildings insurance policy? £1,000 [ New answer is blank ]
6.14.2- Does the lender require confirmation that all insurance risks are included? Yes, in the sense that we require you to check that all the listed risks are covered. If they are, we do not require you to contact us to give us that confirmation. If any of the risks are not covered, you should contact The Mortgage Business, PO Box 548, [ New answer is blank ]
6.14.3- Does the lender require insurer's confirmation to notify it of non-renewal/cancellation for buildings insurance policy? Yes [ New answer is blank ]
6.14.4- Does the lender require a copy of the buildings insurance policy and last premium receipt to be sent to you? No [ New answer is blank ]
14.1.5- Does the lender need to be sent the original mortgage deed and/or any other original title documents? [ Original answer is blank ] No, but please retain a copy on your file.
14.1.5- Does the lender need to be sent the original mortgage deed? No, but please retain a copy on your file. Land Registry will not accept original mortgage deeds or certified paper copies thereof for retention for any e-Document Registration Service applications.
[ New answer is blank ]

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