Buy to Let - First Direct Conveyancing Requirements for Properties Let at Completion

First Direct legal requirements are set out in Part 1 of the 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 First Direct as to whether First Direct lend on "buy-to-let" properties and that the mortgage is for that purpose.

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Last updated on 07/05/2024 Section Two of the UK Finance Lenders’ Handbook for First Direct deals with who you need to contact If different from paragraph 1.11, i.e the contact point if property is let or to be let. It also deals with whether First Direct lend on buy-to-let

We do not lend on property that is let or is to be let at completion

If the residence, 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 First Direct mortgage offer or any consent to let First Direct issue. If the letting does not comply, or no such details are mentioned, you are obliged disclose the position to First Direct

Part 2 of the UK Finance Lenders’ Handbook for First Direct specifies who you must 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:

This lender has not published an answer to this question. Please contact the lender.

Law firms on the First Direct conveyancing 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 First Direct after completion

In addressing the question whether the mortgage company requires a certified copy letting contract to be sent First Direct says:

We do not lend on property that is let or is to be let at completion

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 First Direct 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 First Direct panel or a buy to let mortgage broker click here.