Policy Change for First Direct Solicitor Panel
Change Date: 27/11/2023
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2023 No.1152
Policy changes relevant to
First Direct
Solicitor Panel
| Updated |
|
27/11/2023 |
| 6.7.4- Will the lender proceed if the property does not have the benefit of a new home warranty scheme? |
|
Yes if an appropriate Professional Consultant's
Certificate (PCC) is available (complying with the
requirements set out in parts 6.7.4 & 6.7.5 and
in the form of Appendix 1) and
the conditions below are met. A PCC is only acceptable for newly built homes within: a) A development of no more than 10 properties. b) If the property is a flat or maisonette, a PCC must be available for the common parts and the structure of the building if these are part of the new build/conversion works. Please note: • Retrospective certificates by a professional who has not supervised the project from the start and inspected the build at regular intervals are not acceptable. • The Professional Consultant’s Certificate (PCC) must be in the format set by UKF with no changes from the standard template. If the PCC is issued by a Warranty provider they must be on the approved list of new home warranty schemes in section 6.7.1 |
| 6.7.6- Does the lender need to be sent the professional consultant's certificate? |
|
A copy must be sent to the borrower and a copy must be retained with the title deeds. |
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