Change Date : 14/01/2011
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2011 No.101


Policy changes relevant to
Coutts Finance Solicitor Panel

Updated 13/01/2011 14/01/2011
1.11a- Contact point for standard documents. See 1.7 Address and telephone number as stated in the Mortgage Offer quoting our reference. If you use a PC, fax or e-mail, you should keep a paper copy.
1.11b- Contact point if standard documents are inappropriate. See 1.7 Address and telephone number as stated in the Mortgage Offer quoting our reference. If you use a PC, fax or e-mail, you should keep a paper copy.
3.1.5- If different from 1.11, contact details if the lender needs to be notified when the seller does not have legal representation. You need to notify us (at the details set out at 1.7) so that we can make a decision whether or not to proceed. You need to notify us (at the details set out at 1.11) so that we can make a decision whether or not to proceed.
3.2.4- If different from 1.11, contact details if the lender needs to be notified when the seller does not have legal representation. You need to notify us (at the details set out at 1.7) so that we can make a decision whether or not to proceed. You need to notify us (at the details set out at 1.11) so that we can make a decision whether or not to proceed.
4.3- If different from 1.11, contact point if assumptions stated by the valuer are incorrect. See 1.7 See 1.11
4.5a- If different from 1.11, contact point if re-inspection required. See 1.7 See 1.11
4.5b- Where should the certificate of title be sent? See 1.7 See 1.11
5.2.1- If different from 1.11, the contact point if the seller has owned the property for less than 6 months: See 1.7 See 1.11
5.4.1a- Does the lender limit its requirements in terms of time for planning consents? If so, please specify: Yes, refer to us for details. See 1.7 Yes, refer to us for details. See 1.11
5.4.1b- Does the lender limit its requirements in terms of time for building regulation consents? If so, please specify: Yes, refer to us for details. See 1.7 Yes, refer to us for details. See 1.11
5.4.3a- If different from 1.11, contact point for reporting if evidence of breach and all outstanding conditions will not be satisfied by completion: See 1.7 See 1.11
5.4.4- If different from 1.11, contact point if the property is subject to restrictions which may affect its value or marketability. See 1.7 See 1.11
5.6.1a- Does the lender lend on flying freeholds? Accepted subject to our prior written approval. See 1.7. Indemnity insurance may be required. Accepted subject to our prior written approval. See 1.11. Indemnity insurance may be required.
5.6.1b- Does the lender lend on freehold flats? No, but may be accepted with our prior written approval. Please refer individual cases. See 1.7 No, but may be accepted with our prior written approval. Please refer individual cases. See 1.11
5.6.1c- If the lender is prepared to accept a title falling within 5.6 and the property is a freehold flat or flying freehold, to which contact point must this be reported? See 1.7 See 1.11
5.8.1- Does the lender lend on commonhold? Only in certain circumstances. Please refer individual cases. See 1.7 Only in certain circumstances. Please refer individual cases. See 1.11
5.9.1- If different from 1.11, contact point if there is a restriction on use. See 1.7 See 1.11
5.12.1- If different from 1.11, contact point if borrower is not providing balance of purchase price from funds/proposing to give second charge. See 1.7 See 1.11
5.13.9- If different from 1.11, contact point for matters connected with the lease: See 1.7 See 1.11
5.13.10- If different from 1.11, contact for service charge matters: See 1.7 See 1.11
5.13.11- Does the lender accept indemnity insurance where the terms of the lease are unsatisfactory? Report in writing to us quoting our reference. See 1.7 Report in writing to us quoting our reference. See 1.11
5.13.15a- If different from 1.11, contact point if there is an absentee/insolvent landlord: See 1.7 See 1.11
5.13.15b- Does the lender accept indemnity insurance if the landlord is absent or insolvent? No, but may be accepted with our prior written approval. Please refer individual cases. See 1.7 No, but may be accepted with our prior written approval. Please refer individual cases. See 1.11
5.14.2a- If different from 1.11, contact point if there are apparent problems with the management company: See 1.7 See 1.11
5.15.2- If different from 1.11, contact point if unable to certify search entry does not relate: See 1.7 See 1.11
5.18.1- If different from 1.11, contact point for lending on affordable housing, shared equity and shared ownership and where relevant your requirements: See 1.7 See 1.11
6.1.3- If different from 1.11, contact point if borrower is not taking up the mortgage offer: See 1.7 See 1.11
6.2.1- If different from 1.11, contact if any discrepancies in property's description: See 1.7 See 1.11
6.3.1- If different from 1.11, contact point for any issues relating to purchase price: See 1.7 See 1.11
6.4.4- Does the lender require me to report incentives? Yes. See 1.7 Yes. See 1.11
6.4.5- If different from 1.11, contact point if we will not have control over the payment of all the purchase money: See 1.7 See 1.11
6.5.1- If different from 1.11, contact point if vacant possession is not being given: See 1.7. See also our 'Separate Instructions'. See 1.11. See also our 'Separate Instructions'.
6.6.1- If different from 1.11, contact point if property is let/to be let and to check you lend on buy-to-let: See 1.7. See also our 'Separate Instructions'. See 1.11. See also our 'Separate Instructions'.
6.6.2- If different from 1.11, contact point when you do not have details of current letting or letting to take place at completion: See 1.7 See 1.11
6.7.4- Will the lender proceed if the property does not have the benefit of a new home warranty scheme? Refer to us in writing quoting our reference. See 1.7 Refer to us in writing quoting our reference. See 1.11
6.8.1- If different from 1.11, contact point if no agreement and bond for an unadopted road or sewer: See 1.7, lack of an agreement/bond may be acceptable with our prior written consent. See 1.11, lack of an agreement/bond may be acceptable with our prior written consent.
6.9.1- If different from 1.11, contact point if necessary easements are absent: See 1.7 See 1.11
6.10.2- Who will the lender release any retentions (or instalments of the advance) to? Refer to us for details. See 1.7 Refer to us for details. See 1.11
6.11.1- If different from 1.11, contact point if property is affected by redevelopment or road proposals: See 1.7 See 1.11
6.12.1- If different from 1.11, contact point if pre-emption rights, resale restrictions, options etc will affect the lender's security: See 1.7 See 1.11
6.13.1- If different from 1.11, contact point if property is affected by improvement/repair grant which will not be discharged: See 1.7 See 1.11
6.14.1a- If different from 1.11, contact point if property is not insured in accordance with your requirement: See 1.7 See 1.11
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? Report to us in writing quoting our reference. See 1.7 Report to us in writing quoting our reference. See 1.11
7.4- If different from 1.11, contact point if doubts about accuracy of information disclosed: See 1.7 See 1.11
10.9- If different from 1.11, contact point if completion is delayed? See 1.7 See 1.11
12.3.1- If different from 1.11, contact point for release of retentions/mortgage advance instalments: See 1.7 See 1.11
14.2.1- Where should the title deeds and documents be sent? See 1.7 See 1.11
16.1.1- If different from 1.11, contact point for title documents: See 1.7 See 1.11
16.3.2- If different from 1.11, contact point for finding out the debt amount: See 1.7 See 1.11
16.3.7a- If different from 1.11, contact point for obtaining execution of transfer equity: See 1.7 See 1.11
16.4.1- If different from 1.11, contact point for application for consent to letting: See 1.7 See 1.11
16.5.2- If different from 1.11, contact point for confirming proposed deed or agreement will not adversely affect the lender: See 1.7 See 1.11
16.5.3a- Where should the deed of variation be sent? See 1.7 See 1.11
16.5.3b- Where should the deed of rectification be sent? See 1.7 See 1.11
16.5.3c- Where should the deed of easement be sent? See 1.7 See 1.11
16.5.3d- Where should the option agreements be sent? See 1.7 See 1.11
17.1.1- If different from 1.11, contact point for redemption statements: See 1.7 See 1.11
17.2.1a- Where do you send the discharge and repayment remittance? As advised by us in redemption letter. See 1.7 As advised by us in redemption letter. See 1.11