Buy to Let - The Mortgage Lender Conveyancing Requirements for Properties Let at Completion

The Mortgage Lender buy-to-let obligations are set out 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 The Mortgage Lender as to whether The Mortgage Lender lend on "buy-to-let" properties and that the loan is for that purpose.

Need help with "Buy to Let" from The Mortgage Lender?

Last updated on 09/06/2021 Part 2 of the UK Finance Lenders’ Handbook for The Mortgage Lender 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 The Mortgage Lender lend on buy-to-let

Should you become aware that the borrower intends to rent out the property and the mortgage offer is not for a Buy to Let
OR
If the Mortgage offer is for a Buy to Let and you become aware that the borrower or a member of their family intends to reside in the property, You must advise us immediately.

Please note that this instruction is also applicable where the product selected permits Holiday and Short Term Lets.

completions@themortgagelender.com

Tel: 0344 257 0426

In situations where 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 The Mortgage Lender mortgage offer or any consent to let The Mortgage Lender issue. If the letting fails to comply, or no such details are specified, you must disclose the position to The Mortgage Lender

Part 2 of the UK Finance Lenders’ Handbook for The Mortgage Lender 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:

completions@themortgagelender.com

Tel: 0344 257 0426

Only where the mortgage is for Buy to let purposes, we do not consent to letting on (owner occupied) residential mortgages

Law firms on the The Mortgage Lender 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 The Mortgage Lender after completion

In addressing the question whether the bank requires a counterpart tenancy agreement to be sent The Mortgage Lender says:

No, however where the mortgage is for Buy to Let purposes you must ensure that any existing or proposed tenancies meet the requirements outlined in our Acceptable Tenancies Document.

We do not consent to letting on residential (owner occupied) mortgages.

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 The Mortgage Lender 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 The Mortgage Lender panel or a buy to let mortgage broker click here.