Change Date : 20/10/2016
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2016 No.510


Policy changes relevant to
Allied Irish Bank Solicitor Panel

Updated 26/09/2013 20/10/2016
1.7- Contact point to see if the lender will lend when borrower and mortgagor are not one and the same. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
1.11a- Contact point for standard documents. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB), 51 Belmont Road, Uxbridge, Middlesex, UB8 1RZ
1.11b- Contact point if standard documents are inappropriate. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
1.14- May your firm act if the person dealing with the transaction or a member of his immediate family is the seller? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
1.15- May your firm act if the person dealing with the transaction or a member of his immediate family is the borrower? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
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 ] We don't need notification of the name and address of the seller's conveyancer but we expect you to have satisfied yourself as to the identity of the seller's conveyancer and to exercise good practice.
3.1.4- If different from 1.11, contact details if the lender needs to be notified when the seller does not have legal representation. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
3.1.5- What other documents are acceptable for verifying identity? (A) Full UK/EC driving licence
(B) Employers
ID card with photo and signature, Birth certificate, Marriage certificate and Passport
Full UK/EC driving licence
Employers
ID card with photo and signature, Birth certificate, Marriage certificate and Passport
3.2.3- 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 ] We don't need notification of the name and address of the seller's conveyancer but we expect you to have satisfied yourself as to the identity of the seller's conveyancer and to exercise good practice.
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. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
4.3- If different from 1.11, contact point if assumptions stated by the valuer are incorrect. Yes Refer to AIB Group (UK) plc, Central Securities (GB)
4.5a- If different from 1.11, contact point if re-inspection required. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
4.5b- Where should the certificate of title be sent? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.1.1- If different from 1.11, the contact point if the seller has owned the property for less than 6 months: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.2.1- If different from 1.11, the contact point if the seller is not the owner or registered proprietor and is not listed in the exceptions above: [ Original answer is blank ] Refer to AIB Group (UK) plc, Central Securities (GB)
5.4.5- Does the lender accept personal searches and, if yes, what are the lender's requirements? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.4.6- Does the lender accept search insurance and, if yes, what are the lender's specific requirements? Refer to Legal & Central Securities, GB Yes, provided that it complies with 5.4.7 and 5.4.8 of Part 1.
5.5.3a- If different from 1.11, contact point for reporting if evidence of breach and all outstanding conditions will not be satisfied by completion: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.5.4- If different from 1.11, contact point if the property is subject to restrictions which may affect its value or marketability. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.7.1a- Does the lender lend on flying freeholds? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.7.1b- Does the lender lend on freehold flats? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
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? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.8.1- Does the lender accept security which comprises a building converted into not more than four flats where the borrower occupies one of those flats and the borrower or another flat owner also owns the freehold of the building and the other flats are subject to long leases? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.9.1- Does the lender lend on commonhold? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.10.1- If different from 1.11, contact point if there is a restriction on use. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.13.1- If different from 1.11, contact point if borrower is not providing balance of purchase price from funds/proposing to give second charge. Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.14.1- What minimum unexpired lease term does the lender accept? 70 years remaining at expiry of mortgage term. 60 years remaining at expiry of mortgage term.
5.14.9- If different from 1.11, contact point for matters connected with the lease: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.14.10- If different from 1.11, contact for service charge matters: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.14.11- Does the lender accept indemnity insurance where the terms of the lease are unsatisfactory? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.14.12- Does the lender require a clear ground rent/service charge receipt to be sent to you? Refer to Legal & Central Securities, GB To be obtained, but may be forwarded to the Borrower.
5.14.15a- If different from 1.11, contact point if there is an absentee/insolvent landlord: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.14.15b- Does the lender accept indemnity insurance if the landlord is absent or insolvent? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.15.2a- If different from 1.11, contact point if there are apparent problems with the management company: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.15.2c- Does the lender need to be sent the signed blank stock transfer form? No, may be provided to the Borrower. Yes, please provide this to us on completion
5.16.2- If different from 1.11, contact point if unable to certify search entry does not relate: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
5.17.5a- Does the lender need to be sent the power of attorney? Yes, following completion. Yes at completion.
5.19.1- If different from 1.11, contact point for lending on affordable housing, shared equity and shared ownership and where relevant your requirements: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
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 – refer to AIB Group (UK) plc, Central Securities (GB)
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 ] No
5.20.4- Does the lender require you to disclose the details of any existing Green Deal Plan(s) on a property? [ Original answer is blank ] Yes – please refer to AIB Group (UK) plc, Central Securities (GB)
6.1.3- If different from 1.11, contact point if borrower is not taking up the mortgage offer: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.2.1- If different from 1.11, contact if any discrepancies in property's description: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.3.1- If different from 1.11, contact point for any issues relating to purchase price: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.4.4- Does the lender require me to report incentives? Yes, refer to Legal & Central Securities, GB Yes, refer to AIB Group (UK) plc, Central Securities (GB)
6.4.5- If different from 1.11, contact point if we will not have control over the payment of all the purchase money: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.5.1- If different from 1.11, contact point if vacant possession is not being given: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
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: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
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: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
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? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.7.4- Will the lender proceed if the property does not have the benefit of a new home warranty scheme? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.7.6- Does the lender need to be sent the professional consultant's certificate? Refer to Legal & Central Securities, GB Original not required, but solicitor to confirm receipt.
6.8.1- If different from 1.11, contact point if no agreement and bond for an unadopted road or sewer: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.9.1- If different from 1.11, contact point if necessary easements are absent: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.10.2- Who will the lender release any retentions (or instalments of the advance) to? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.11.1- If different from 1.11, contact point if property is affected by redevelopment or road proposals: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.12.1- If different from 1.11, contact point if pre-emption rights, resale restrictions, options etc will affect the lender's security: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
6.13.1- If different from 1.11, contact point if property is affected by improvement/repair grant which will not be discharged: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
7.4- If different from 1.11, contact point if doubts about accuracy of information disclosed: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
8.1- Does the lender allow me to advise any of the specified third parties? No No. You must strongly advise such third parties to seek independent legal advice. Please note you should not disclose any confidential documents relating to the mortgage to any third party unless both we and the borrower provide our express consent.
10.3- What are the standard deductions made from the mortgage advance? Refer to Legal & Central Securities, GB. Refer to AIB Group (UK) plc, Central Securities (GB)
10.7- On a delayed completion, when and how is advance to be returned? Within 48 hours. Refer to Legal & Central Securities, GB Within 48 hours. Refer to AIB Group (UK) plc, Central Securities (GB)
10.9- If different from 1.11, contact point if completion is delayed? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
10.10- How long can you hold the mortgage advance before returning it? Within 48 hours. Refer to Legal & Central Securities, GB Within 48 hours. Refer to AIB Group (UK) plc, Central Securities (GB)
10.11- What, if any interest does the lender charge if return of the advance is delayed? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
12.3.1- If different from 1.11, contact point for release of retentions/mortgage advance instalments: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
14.1.5- Does the lender need to be sent the original mortgage deed and/or any other original title documents? No Yes - please provide the original mortgage deed to us on completion.
14.2.1- Where should the title deeds and documents be sent? To the Borrower. The original mortgage deed should be us at the following address: AIB Group (UK) plc, Central Securities (GB), 51 Belmont Road, Uxbridge, Middlesex, UB8 1RZ.
14.2.2- Which documents must I send after completion? Official copy of the title. Official copy of the title and original mortgage deed.
16.1.1- If different from 1.11, contact point for title documents: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
16.3.2- If different from 1.11, contact point for finding out the debt amount: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
16.3.7a- If different from 1.11, contact point for obtaining execution of transfer equity: Executed as a deed by
AIB Group (UK) Plc
Acting by its lawful Attorneys:

Name:


Name:
As Attorneys for
AIB Group (UK) Plc
Refer to AIB Group (UK) plc, Central Securities (GB
16.3.7b- What form of attestation clause does the lender use? [ Original answer is blank ] Executed as a deed by
AIB Group (UK) Plc
Acting by its lawful Attorneys:

Name:

Name:
As Attorneys for AIB Group (UK) Plc

Witness

………………………………..
51 Belmont Road, Uxbridge
Bank Official
16.4.1- If different from 1.11, contact point for application for consent to letting: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
16.4.2- Does the lender need to be sent a copy of the proposed tenancy? Yes, however the Bank will only accept Assured Shorthold Tenancy Agreements. Yes, except where the mortgage offer makes it clear the loan has been made on a buy to let basis and where the tenancy agreement complies with the requirements set out in the offer conditions.
16.5.2- If different from 1.11, contact point for confirming proposed deed or agreement will not adversely affect the lender: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
16.5.3a- Where should the deed of variation be sent? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
16.5.3b- Where should the deed of rectification be sent? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
16.5.3c- Where should the deed of easement be sent? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
16.5.3d- Where should the option agreements be sent? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
17.1.1- If different from 1.11, contact point for redemption statements: Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)
17.2.1a- Where do you send the discharge and repayment remittance? Refer to Legal & Central Securities, GB Refer to AIB Group (UK) plc, Central Securities (GB)