Buy to Let - Aldermore Bank Conveyancing Requirements for Properties Let at Completion

Aldermore Bank buy-to-let obligations are set out in Part 1 of the Council of Mortgage Lenders’ Handbook which provides that unless it is clear from the mortgage offer that the property is let or is to be let at completion then you must check with Aldermore Bank as to whether Aldermore Bank lend on "buy-to-let" premises and that the mortgage is for that purpose.

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Last updated on 22/02/2024 Part 2 of the UK Finance Lenders’ Handbook for Aldermore Bank 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 Aldermore Bank lend on buy-to-let

As 1.11.

Where the residence, or part of it, is currently let, or is to be let at completion, then the letting must comply with the details set out in the Aldermore Bank mortgage offer or any consent to let Aldermore Bank issue. If the letting fails to comply, or no such details are specified, you are obliged notify the position to Aldermore Bank

Part 2 of the UK Finance Lenders’ Handbook for Aldermore Bank deals with 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 1.11.

Property lawyers on the Aldermore Bank 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 Aldermore Bank after completion

In addressing the question whether the bank requires a certified copy letting contract to be sent Aldermore Bank specifically states:

No, however you must notify us if the tenancy agreement does not comply with the terms in our ‘Solicitors Instructions’ letter and the terms and conditions of the mortgage offer
The following tenancy agreements are acceptable:
• Assured short-hold tenancy agreement (AST) for up to 3 years
• Short assured tenancy agreement (SAT) for up to 3 years
• Scottish Private Residential Tenancy
• Welsh Standard Occupation Contracts
• Corporate lets for up to 5 years remaining on the tenancy agreement – if let directly
to a Public Limited Company (PLC) or to a registered provider of social housing in
England, Wales or Scotland

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 Aldermore Bank 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 Aldermore Bank panel or a buy to let mortgage broker click here.