Buy to Let - NRAM Ltd Conveyancing Requirements for Properties Let at Completion

NRAM Ltd buy-to-let obligations 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 NRAM Ltd as to whether NRAM Ltd lend on "buy-to-let" properties and that the mortgage is for that purpose.

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Last updated on 11/03/2022 Part 2 of the UK Finance Lenders’ Handbook for NRAM Ltd 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 NRAM Ltd lend on buy-to-let

Contact not required if a NRAM Ltd Buy to Let mortgage, otherwise see 1.11a

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 NRAM Ltd mortgage offer or any consent to let NRAM Ltd issue. If the letting does not comply, or no such details are mentioned, you must report the position to NRAM Ltd

Part 2 of the UK Finance Lenders’ Handbook for NRAM Ltd 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:

See 1.11a

Property lawyers on the NRAM Ltd 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 NRAM Ltd after completion

In addressing the question whether the lender requires a counterpart tenancy contract to be sent NRAM Ltd specifically states:

Yes, counterpart after completion with the title deeds.

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 NRAM Ltd 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 NRAM Ltd panel or a buy to let mortgage broker click here.