Buy to Let - New Street Mortgages Conveyancing Requirements for Properties Let at Completion

New Street Mortgages buy-to-let obligations are expressed 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 New Street Mortgages as to whether New Street Mortgages lend on "buy-to-let" properties and that the mortgage is for that purpose.

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Last updated on 11/07/2018 Section Two of the UK Finance Lenders’ Handbook for New Street 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 New Street Mortgages lend on buy-to-let

New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW. Tel: 0333-300-3100, Fax: 0333-300-3132, email: enquiries@newstreetmortgages.com

If the premises, 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 New Street Mortgages mortgage offer or any consent to let New Street Mortgages issue. If the letting fails to comply, or no such details are mentioned, you must report the position to New Street Mortgages

Part 2 of the UK Finance Lenders’ Handbook for New Street Mortgages deals with 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:

New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW. Tel: 0333-300-3100, Fax: 0333-300-3132, email: enquiries@newstreetmortgages.com

Law firms on the New Street 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 New Street Mortgages after completion

In considering whether the lender requires a certified copy letting contract to be sent New Street Mortgages says:

No, as our representative you should satisfy yourself that the following is fulfilled:

Only lettings on a single Assured Shorthold Tenancy agreement (AST) per house or flat for no more than 12 months with a 6 month break clause for any over 6 months in duration are acceptable. Multiple lets, bedsits, tenants of local authorities/DSS/housing associations/Corporate are not acceptable. The maximum rental figure acceptable is \xA3100,000 per annum.

Properties cannot be let to family members

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 New Street 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 New Street Mortgages panel or a buy to let mortgage broker click here.