Change Date : 01/12/2014
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2014 No.1541


Policy changes relevant to
Bank of Ireland Solicitor Panel

Updated 10/09/2013 27/11/2014
3.1.3- Does the lender require notification of the name and address of the solicitors firm or licensed conveyancers firm acting for the seller? [ Original answer is blank ] Yes, please advise the Case Manager in writing.
3.1.4- Does the lender require notification of the name and address of the solicitors firm or licensed conveyancers firm acting for the seller? Yes, please advise the Case Manager in writing. [ New answer is blank ]
3.1.5- What other documents are acceptable for verifying identity? [ Original answer is blank ] None.
3.1.6- What other documents are acceptable for verifying identity? None. [ New answer is blank ]
5.5.1a- Does the lender limit its requirements in terms of time for planning consents? If so, please specify: Yes. Retrospective consents do not need to be obtained if the works were carried out prior to the start of the relevant enforcement periods for planning and building regulation approval. [ 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: Yes, Retrospective consents do not need to be obtained if the works were carried out prior to the start of the relevant enforcement periods for planning and building regulation approval. [ New answer is blank ]
6.7.1- What new home warranty schemes are acceptable to the lender? NHBC
Zurich Municipal
LABC
Build-Zone
Premier Guarantee (provided the insurance cover offered is greater than, or equal to, the market value or insurance figure, whichever is the greater)
Building Life Plan (provided the cover includes the contaminated land and health & safety for occupiers options)
Castle 10 from Checkmate (provided any outbuildings also being constructed are included in the cover by endorsement)
The Q Policy for Residential Properties, Bespoke Properties & Completed Properties
NHBC
Zurich Municipal
LABC
Build-Zone
Premier Guarantee (provided the insurance cover offered is greater than, or equal to, the market value or insurance figure, whichever is the greater)
Building Life Plan (provided the cover includes the contaminated land and health & safety for occupiers options)
Castle 10 from Checkmate (provided any outbuildings also being constructed are included in the cover by endorsement)
The Q Policy for Residential Properties, Bespoke Properties & Completed Properties
Construction Register (CRL)
6.14.1- Does the lender have any further requirements in relation to buildings insurance? [ Original answer is blank ] You must check that:
(1) All standard insurance risks for residential buildings (see note 1 below) are covered by the insurance policy;
(2) The amount of the buildings insurance cover is at least the amount stated in the Offer (if it is a block policy please see note 2 below);
(3) The amount of the cover is index linked;
(4) The maximum excesses do not exceed £1000 for subsidence and £500 for all other risks; and
(5) The policy notes the interest of mortgagees.
You must report to us if any of these requirements are not satisfied.

Note 1: These risks are fire, lighting, aircraft, explosion, earthquake, storm, flood, escape of water or oil, riot, malicious damage, theft or attempted theft, falling trees & branches & aerials, subsidence, heave, landslip, collision, accidental damage to underground services, professional fees/demolition & site clearance costs and public liability.
Note 2: If the property is part of a larger building and there is a common insurance policy the sum insured must not be less than the total number of flats multiplied by the insurance cover amount stated in the Offer for the property.
6.14.1a- If different from 1.11, contact point if property is not insured in accordance with your requirement: Case Manager (see front page of the Offer for contact details). [ New answer is blank ]
6.14.1b- Does the lender need the buildings insurance in joint names or its interest noted? Yes, preferably in joint names but will accept our interest being noted as mortgagee. [ 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? The amount of buildings insurance cover should be increased. If you consider that the sum insured is adequate (e.g. if the flats within the building are different in size) please contact us with the details. [ New answer is blank ]
6.14.1d- What is the maximum excess the lender will accept on buildings insurance policy? £1,000 subsidence; £500 all other risks. [ New answer is blank ]
6.14.2- Does the lender require confirmation that all insurance risks are included? Yes. [ 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? No. [ 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, unless specifically required in the Offer. [ New answer is blank ]

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