Buy to Let - Sainsbury's Bank Conveyancing Requirements for Properties Let at Completion

Sainsbury's Bank buy-to-let obligations are explicit in Part 1 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 Sainsbury's Bank as to whether Sainsbury's Bank lend on "buy-to-let" premises and that the loan is for that purpose.

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Previously updated on 15/07/2022 Part 2 of the UK Finance Lenders’ Handbook for Sainsbury's 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 Sainsbury's Bank lend on buy-to-let

Contact point as detailed in 1.11a

In situations where 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 Sainsbury's Bank mortgage offer or any consent to let Sainsbury's Bank issue. If the letting fails to comply, or no such details are mentioned, you must report the position to Sainsbury's Bank

Part 2 of the UK Finance Lenders’ Handbook for Sainsbury's Bank 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:

Contact point as detailed in 1.11a

Law firms on the Sainsbury's Bank 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 Sainsbury's Bank after completion

In considering whether the lender requires a counterpart tenancy contract to be sent Sainsbury's Bank specifically states:

No, but please retain a copy for your file and ensure that the terms of the tenancy agreement comply with our terms and conditions. We may request a copy of the agreement, if we require it

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 Sainsbury's 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 Sainsbury's Bank panel or a buy to let mortgage broker click here.