Buy to Let - MPowered Mortgages Conveyancing Requirements for Properties Let at Completion

MPowered Mortgages legal requirements are expressed in Part 1 of the December 1st 2014 version of the CML 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 MPowered Mortgages as to whether MPowered Mortgages lend on "buy-to-let" premises and that the mortgage is for that purpose.

Need help with "Buy to Let" from MPowered Mortgages?

Previously updated on 02/05/2024 Part 2 of the UK Finance Lenders’ Handbook for MPowered Mortgages 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 MPowered Mortgages lend on buy-to-let

The mortgage offer will indicate the mortgage is a Buy to Let product, and whether we are lending on a House in Multiple Occupation or Multi-Let Unit. Any queries regarding standard or special mortgage conditions should be referred to See 1.11a

Where the premises, 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 MPowered Mortgages mortgage offer or any consent to let MPowered Mortgages issue. If the letting fails to comply, or no such details are specified, you must disclose the position to MPowered Mortgages

Part 2 of the UK Finance Lenders’ Handbook for MPowered Mortgages 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:

The property must be let under an approved AST at or within 3 months of completion. The Mortgage Offer will set out our specific requirements for any letting of the property. Any queries regarding standard or special mortgage conditions for letting the property should be referred to See 1.11a

Property lawyers on the MPowered Mortgages 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 MPowered Mortgages after completion

In considering whether the bank requires a certified copy tenancy agreement to be sent MPowered Mortgages specifically states:

No, you have already approved the document on our behalf and should retain a certified copy on 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 MPowered Mortgages 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 MPowered Mortgages panel or a buy to let mortgage broker click here.