Buy to Let - Accord Buy to Let Conveyancing Requirements for Properties Let at Completion

Accord Buy to Let conveyancing instructions are set out in Part 1 of the CML Handbook which provides that unless it is clear from the mortgage offer that the property is tenanted or is to be let at completion then you must check with Accord Buy to Let as to whether Accord Buy to Let lend on "buy-to-let" premises and that the loan is for that purpose.

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Last updated on 02/05/2024 Part 2 of the UK Finance Lenders’ Handbook for Accord Buy to Let deals with who you need to contact If different from section 1.11, i.e the contact point if property is let or to be let. It also deals with whether Accord Buy to Let lend on buy-to-let

As 1.11a. Where the loan is explicitly identified in the Mortgage Offer as a Buy to Let purchase or re-mortgage, you do not need to inform us that the transaction is for Buy to Let purposes. We do require you to check the property being offered as security will have a minimum Energy Performance Rating of E as at completion of the mortgage transaction or will benefit from a valid [PRS] exemption.

If the property, or part of it, is already let, or is to be let at completion, then the letting must comply with the details set out in the Accord Buy to Let mortgage offer or any consent to let Accord Buy to Let issue. If the letting fails to comply, or no such details are specified, you must notify the position to Accord Buy to Let

Part 2 of the UK Finance Lenders’ Handbook for Accord Buy to Let specifies who you need to contact If different from 1.11, i.e the contact point when you do not have details of current letting or letting to take place at completion:

As 1.11a. Where the loan is explicitly identified in the Mortgage Offer as a Buy to Let purchase or re-mortgage, you do not need to inform us that the transaction is for Buy to Let purposes. We do require you to check the property being offered as security will have a minimum Energy Performance Rating of E as at completion of the mortgage transaction or will benefit from a valid PRS exemption.

Conveyancing solicitors on the Accord Buy to Let solicitor panel,when it comes to buy to let properties need to check Part 2 of the UK Finance Lenders’ Handbook as to whether counterparts or certified copies of all tenancy agreements and leases in respect of existing tenancies must be sent to Accord Buy to Let after completion

In addressing the question whether the mortgage company requires a counterpart letting agreement to be sent Accord Buy to Let says:

No. But you must retain a copy for your file.

The information contained within this webpage is for general information purposes only for lawyers in England and Wales, it does not constitute advice and you should always check the UK Finance Lenders’ Handbook for Accord Buy to Let Buy to Let requirements as well as the mortgage offer. Whilst we endeavour to keep the information up to date and correct but does not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information. The same caveat applies to members of the public looking at this page. If you wish to find a buy to let conveyancing specialist on the Accord Buy to Let panel or a buy to let mortgage broker click here.