Source: https://www.cml.org.uk/lenders-handbook/englandandwales/nationwide-building-society/question-list/
Timestamp: 2019-01-16 05:38:15
Document Index: 326825495

Matched Legal Cases: ['art 2', 'art 1', 'art 1', 'arts 1', 'art 1', 'art 1', 'art 1', 'art 1']

Nationwide Building Society - Council of Mortgage Lenders
Part 2: Nationwide Building Society
1.11aContact point for standard documents.
1.11bContact point if standard documents are inappropriate.
1.14 May your firm act if the person dealing with the transaction or a member of his immediate family is the seller?
No  even if a separate fee earner/partner is prepared to act
1.15 May your firm act if the person dealing with the transaction or a member of his immediate family is the borrower?
3.1.3 Does the lender require notification of the name and address of the solicitors firm or licensed conveyancers firm acting for the seller?View all answers to this question
3.1.4 If different from 1.11, contact details if the lender needs to be notified when the seller does not have legal representation.
We need to be notified of any cases where the seller is not represented or where you cannot satisfy yourselves with the checks carried out on the seller's appointed representative.
3.1.5 What other documents are acceptable for verifying identity?
1) Signed Employers Photo ID card, provided the employer is known to the conveyancer
2) Debit/cheque guarantee card (UK issued) together with original account statement, less than 3 months old.
1) Inland Revenue Notice of Tax Code (less than 3 months old)
2) Residence Permit issued by the Home Office to EU Nationals
3) Subcontractors Tax Certificate (must be accompanied by an IR Notice of Assessment)
3.2.3 Does the lender require notification of the name and address of the solicitors firm or licensed conveyancers firm acting for the seller?View all answers to this question
3.2.4 If different from 1.11, contact details if the lender needs to be notified when the seller does not have legal representation.
4.1 Is there a valuation report and if so, does the lender provide it?
An inspection of the property is not arranged in every instance.
If you receive a copy of a report we do not expect you to check the content of the report. The checks in section 4.2 and 4.3 should be against the information in the mortgage offer.
4.3 If different from 1.11, contact point if assumptions stated by the valuer are incorrect.
Please check against the information in our offer.
If any of the information is incorrect please refer to the Issuing Office.
4.5aIf different from 1.11, contact point if re-inspection required.
4.5bWhere should the certificate of title be sent?
5.1.1 If different from 1.11, the contact point if the seller has owned the property for less than 6 months:
5.2.1 If different from 1.11, the contact point if the seller is not the owner or registered proprietor and is not listed in the exceptions above:
We will not normally lend where there is a sub-sale or back to back transaction and we will not lend where the contract for sale is to be assigned to a third party. All circumstances where the seller is not the owner or registered proprietor other than those listed in Part 1 under 5.2.1 should be referred to the issuing office with full details.
5.4.4 Does the lender want to receive environmental or contaminated land reports?
No. Nor do we require any ancillary reports (e.g. flooding, contamination, and energy and infrastructure reports) that you have requested for the borrower, even if adverse information is revealed, provided the borrower is aware and you have advised them that full disclosure must be made to the insurer prior to completion and they must obtain insurance under normal terms.
5.4.5 Does the lender accept personal searches and, if yes, what are the lender's requirements?
Yes providing the requirements under sections 5.4.7 and 5.4.8 in Part 1 are satisfied. We recommend that any firm carrying out a personal search is registered under The Search Code monitored by the Property Codes Compliance Board.
If there is a possibility of chancel repair liability:
No liability registered at Land Registry and the property has been transferred for valuable consideration since 13 October 2013 – no indemnity insurance required.
Properties being registered for the first time or first transfer for valuable consideration since 13 October 2013 - indemnity insurance is required to protect us (see paragraph 9 parts 1 and 2 for our requirements).
If there is known chancel repair liability:
We will require indemnity insurance to be in place. If there is no policy and one will not be obtained where there is a known risk, please refer the details to us including details of how many properties are subject to the liability.
5.4.6 Does the lender accept search insurance and, if yes, what are the lender's specific requirements?
Yes providing the search insurance adequately protects us, and you are satisfied that you will be able to certify that the title is good and marketable.
5.5.3aIf different from 1.11, contact point for reporting if evidence of breach and all outstanding conditions will not be satisfied by completion:
Issuing Office where issues will not be resolved on or before completion. If you can provide a clear Certificate of Title, or an indemnity policy is being taken out to protect us from any breach, there is no requirement to inform us, other than record the relevant indemnity details on the Certificate of Title. The applicant must inform their insurance company and ensure full cover is available.
5.5.3bDoes the lender require an original/copy of the planning permission?
No - borrowers to retain
5.5.3cDoes the lender require an original/copy of the building regulation consents?
5.5.3dDoes the lender require certificates of lawful use or development/established use certificate?
5.5.4 If different from 1.11, contact point if the property is subject to restrictions which may affect its value or marketability.
Issuing Office and for Low Cost Home Ownership / Special Scheme restrictions please also ensure the scheme complies with our requirements as documented on our website at nationwide.co.uk/-/media/MainSite/documents/about/media-centre-and-specialist-areas/information-for-lawyers/low-cost-home-ownership-special-schemes.pdf
5.7.1aDoes the lender lend on flying freeholds?
Yes, where only part of the subject property is affected. There is no requirement to report these flying freeholds to us. No, where the whole of the subject property is affected (100%).
5.7.1bDoes the lender lend on freehold flats?
i)see 5.7.1
ii)coach house flats - where there is one flat in a block built above garages and/or an access way there is no need to report details to us.
If there is an element of flying freehold - the requirements in part 1 paragraphs 5.6.2 must be adhered to.
Insurance - where the purchaser arranges insurance on more than one garage or garages owned/used by other parties, please ensure that the insurance company is aware of the arrangements. iii) for properties in the parish of Hebden Royd see 5.6.1a above.
5.7.1cIf the lender is prepared to accept a title falling within 5.7 and the property is a freehold flat or flying freehold, to which contact point must this be reported?
5.8.1 Does the lender accept security which comprises a building converted into not more than four flats where the borrower occupies one of those flats and the borrower or another flat owner also owns the freehold of the building and the other flats are subject to long leases?
5.8.5 Does the lender accept security which comprises one of two leasehold flats in a building where the borrower also owns the freehold reversion of the other flat and the other leaseholder owns the freehold reversion in the borrower's flat? If so, are there any specific requirements?
Yes to bullet 1 clause 5.8.5 - see 5.14 for our requirements for leasehold securities generally
Yes to bullet 2 clause 5.8.5 Yes We require the borrowers leasehold interest in the flat they occupy to be charged and we also require a charge over the borrowers freehold interest in the other flat subject to the lease in favour of its occupier.
5.9.1 Does the lender lend on commonhold?
5.10.1 If different from 1.11, contact point if there is a restriction on use.
5.13.1 If different from 1.11, contact point if borrower is not providing balance of purchase price from funds/proposing to give second charge.
If the balance of the purchase price is being paid wholly or in part by anyone other than the borrower, you must advise us of the amount and whether it is to be secured by a second charge and if any conditions are attached to it other than repayment upon sale of property. Please also confirm whether the provider is a family member of our borrower(s).
If all or part of the deposit is coming from a gift, you must ask the borrower(s) who will be providing the gift and what country the gift is being received from. If any of the gift is coming from a foreign country, you must inform us.
5.14.1 What minimum unexpired lease term does the lender accept?
Our minimum unexpired lease term is 55 years subject to at least 30 years remaining at the end of the mortgage term.
Report to the issuing office if the lease term is shorter than that stated on the offer and has less than 100 years remaining. (There is no requirement to report if the lease term is lower than that stated on the offer but still has 100 years or more to run, or if the lease term is longer than that stated on the offer).
- The unexpired lease term is less than 125 years on a new build flat or 250 years on a new build house (does not apply to Shared Ownership)
5.14.9 If different from 1.11, contact point for matters connected with the lease:
5.14.10 If different from 1.11, contact for service charge matters:
5.14.11 Does the lender accept indemnity insurance where the terms of the lease are unsatisfactory?
Yes providing the policy covers the specific defect and meets the requirements in paragraph 9 of Part 1.
5.14.12 Does the lender require a clear ground rent/service charge receipt to be sent to you?
No - borrower(s) to retain
5.14.13 Does the lender require a receipted copy of notice or evidence of service to be sent to you?
5.14.15aIf different from 1.11, contact point if there is an absentee/insolvent landlord:
Acceptable, with indemnity insurance, where there are no more that 6 flats in the building (no need to contact the Issuing Office) - 7 flats or more unacceptable.
5.14.15bDoes the lender accept indemnity insurance if the landlord is absent or insolvent?
Yes, providing there are no more than 6 flats in the building (no need to contact the Issuing Office)-7 flats or more unacceptable
5.15.2aIf different from 1.11, contact point if there are apparent problems with the management company:
5.15.2bDoes the lender need to be sent the management company share certificate?
5.15.2cDoes the lender need to be sent the signed blank stock transfer form?
5.15.2dDoes the lender need to be sent the management company's memorandum and articles of association?
5.16.2 If different from 1.11, contact point if unable to certify search entry does not relate:
Group Legal Services, DX 83653 Swindon Hawksworth - Fax 01793 652318
5.17.5aDoes the lender need to be sent the power of attorney?
5.17.5bDoes the lender need to be sent the statutory declaration of non-revocation of power of attorney?
5.19.1 If different from 1.11, contact point for lending on affordable housing, shared equity and shared ownership and where relevant your requirements:
Our standard requirements are set out in the
"Low Cost Home Ownership / Special Schemes" document on our website at nationwide.co.uk/-/media/MainSite/documents/about/media-centre-and-specialist-areas/information-for-lawyers/low-cost-home-ownership-special-schemes.pdf
Additional enquiries arising should be directed to the Issuing Office.
5.20.1 Does the lender require me to report to them where the lease does not meet the UK Finance minimum requirements for leases of roof space for solar PV panels?
Please arrange for a deed of variation to be entered into on or before completion to ensure the UK Finance minimum requirements are met. If this is not possible advise the applicants and the issuing office the UK Finance minimum requirements cannot be met and the case cannot proceed.
5.20.3 Does the lender have additional requirements relating to leases of roof space for solar PV panels, and if so, what are they?
The minimum UK Finance requirements must be met. For post completion requests, the borrower should be advised to ask the energy provider to correspond with Nationwide, Mortgage Servicing DX12500 using the UK Finance minimum requirements template.
5.20.4 Does the lender require you to disclose the details of any existing Green Deal Plan(s) on a property?
Where a green deal loan balance is currently more than £10,000 please provide the issuing office with the following:the balance, monthly payment, term remaining, list of works that were undertaken, copies of any guarantees for the work and a copy of the Energy Performance Certificate.
6.1.3 If different from 1.11, contact point if borrower is not taking up the mortgage offer:
6.2.1 If different from 1.11, contact if any discrepancies in property's description:
6.3.1 If different from 1.11, contact point for any issues relating to purchase price:
6.4.4 Does the lender require me to report incentives?
Yes  please specify the nature and amount of any incentives to the Issuing office.
If the case is an equity share, please also report to us if it becomes apparent that the source of deposit is not a family gift and/or from the applicants' own resources.
6.4.5 If different from 1.11, contact point if we will not have control over the payment of all the purchase money:
6.5.1 If different from 1.11, contact point if vacant possession is not being given:
We will not lend on any case where there is an existing tenancy 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 us whether we lend on "buy-to-let" properties and that the mortgage is for that purpose
6.6.1 If different from 1.11, contact point if property is let/to be let and to check you lend on buy-to-let:
6.6.2 If different from 1.11, contact point when you do not have details of current letting or letting to take place at completion:
6.6.3 Does the lender require counterpart/certified copy tenancy agreement to be sent to you?
6.6.4 Does the lender lend where the property comes within the definition of a house in multiple occupation? If yes, what are your requirements?
6.7.1 What new home warranty schemes are acceptable to the lender?
- Premier Guarantee
- BLP formerly known as Building Life Plan (excluding self builds under construction). These policies are underwritten by Allianz Global but written by BLP.
- Build-zone
- Checkmate's Castle 10 (where out buildings such as a detached garage are also being constructed an endorsement to include these in cover is required).
- Build Assure (New Home Structural Defects Insurance)
- Global Home Warranties (Structural Defects Insurance)
- The Q Policy for Residential Properties
- The Q Policy for Bespoke Properties (detached only)
- Advantage: There must be no more than 10 units in any continuous structure.
- International Construction Warranties (ICW)
- Ark Residential New Build Latent Defects Insurance. Where a detached garage/outbuilding has been constructed at the same time as the main building the policy must include an endorsement confirming cover for the detached garage/outbuilding.
- Aedis: There must be no more than 20 units in the structure.
- CRL new build 10 year structural defects insurance policy for residential property:
o	New properties where the insurer is International General Insurance Company (UK) Ltd and Ark have signed the final certificate. Please see the final paragraph on the final certificate which will confirm Ark details and the fact they are signing on behalf of the insurers. Acceptable.
o	New build properties underwritten by Alpha. Not acceptable.
o	Second hand properties being sold by first or subsequent owner and property is under two years old, with the warranty underwritten by Alpha. Unacceptable.
o	Second hand properties over two years old. Acceptable.
Refer all other warranty schemes to Issuing Office
6.7.2 What new home warranty documentation should be sent to the lender?
None - borrowers to retain
6.7.3 Should any assignments of building standards indemnity schemes be sent to us?
6.7.4 Will the lender proceed if the property does not have the benefit of a new home warranty scheme?
i) Yes if an appropriate Professional Consultant's Certificate is available or
6.7.6 Does the lender need to be sent the professional consultant's certificate?
Yes to Issuing Office
6.8.1 If different from 1.11, contact point if no agreement and bond for an unadopted road or sewer:
Newly built properties – we do not insist on any such agreement and bond being in place nor on you making a retention providing the roads and sewers are to be adopted eventually or managed by local residents or a management company (see 6.8.4 part 1 details) and so we do not need to be made aware of such circumstances. However, you should ensure all applicants are aware of their potential liability.
Second hand properties – whether managed by either local residents or a management company or not (see 6.8.4 part 1 details): all applicants must be made aware of the practicalities of the situation and of their future liabilities/potential liabilities, we do not need to be advised of the situation. For un-adopted sewers the vendor must confirm the system is currently working and there have been no disputes regarding servicing and maintenance of the system.
6.9.1 If different from 1.11, contact point if necessary easements are absent:
Providing suitable Indemnity Insurance is in place on completion there in no requirement to advise us. Record policy details on COT (see 9 below)
6.10.2 Who will the lender release any retentions (or instalments of the advance) to?
6.11.1 If different from 1.11, contact point if property is affected by redevelopment or road proposals:
6.12.1 If different from 1.11, contact point if pre-emption rights, resale restrictions, options etc will affect the lender's security:
Overage agreements will only be acceptable if: -
1.They are made subject to our charge. Our charge must have priority over the overage agreement. If the overage agreement is already in place, it must be postponed so that Nationwide’s interest ranks in priority.
2.Any restriction wording does not prevent the disposition by a mortgagee.
Any existing overage agreement and/or restriction that does not comply with the foregoing will need to be amended on or before completion.
If the overage agreement relates to developing new units/buildings on the land we do not need to be advised. If the agreement relates to the current building (for example developing it into flats, adding an extension or conservatory, or a loft conversion) please advise us of the terms of the overage in plain English. This material fact will be assessed to ascertain if we wish to amend or withdraw our offer.
6.13.1 If different from 1.11, contact point if property is affected by improvement/repair grant which will not be discharged:
7.3 Does the lender require a consent to mortgage from all occupants aged 17 or over?
7.4 If different from 1.11, contact point if doubts about accuracy of information disclosed:
8.1 Does the lender allow me to advise any of the specified third parties?
Only those listed in bullet 3 clause 8.1
9.1 Does the lender need to be sent the indemnity insurance policy?
No include Insurance Company and Policy No. on Certificate of Title
9.2 What limit of indemnity insurance does the lender require?
Purchase Price (valuation if price is at a discount).
10.2aWill the mortgage advance be paid electronically or by cheque?
10.2bWhat is the minimum number of days notice lenders require?
10.3 What are the standard deductions made from the mortgage advance?
10.7 On a delayed completion, when and how is advance to be returned?
If completion is delayed for more than 7 working days, or will not occur at all, you must return the advance by the same method as received, and return any interest accrued by cheque payable to Nationwide Building Society.
If completion is delayed beyond the offer expiry date, we will allow the mortgage to proceed on the original offer terms provided completion takes place within 15 days of the original offer expiry date.
10.9 If different from 1.11, contact point if completion is delayed?
10.10 How long can you hold the mortgage advance before returning it?
The advance must be returned within 7 working days of issue. If completion is delayed but will occur within 7 working days of issue we expect you to hold the monies in an interest bearing account and pass on the accrued interest to the borrower(s).
10.11 What, if any interest does the lender charge if return of the advance is delayed?
We charge our borrower(s) interest from the same day that the advance is released
12.3.1 If different from 1.11, contact point for release of retentions/mortgage advance instalments:
14.1.4 Does the lender require me to make a form CH2 application?
14.1.5 Does the lender need to be sent the original mortgage deed and/or any other original title documents?
Mortgage Deed to HM Land Registry.
Obtain instruction from borrower(s) concerning retention of other documents
16.1.1 If different from 1.11, contact point for title documents:
www.nationwide.co.uk/lawyers
16.3.1 Does the lender have a standard form of transfer/deed of covenant?
16.3.2 If different from 1.11, contact point for finding out the debt amount:
www.nationwide.co.uk/Lawyers If it is a former Portman mortgage then please phone Nationwide Direct on 0800 30 20 11
16.3.4 Does the lender need to be sent the transfer of equity?
No - to be sent to HM Land Registry.
16.3.7aIf different from 1.11, contact point for obtaining execution of transfer equity:
There is no longer a requirement to submit the TR1 to us for sealing. We have agreed with the Land Registry that the Transfer Deed can be sent directly to them after all conditions have been met, however a bankruptcy search should be carried out for all new borrowers and any adverse entries or results must be reported to us before we can complete the Transfer of Equity. For all new borrowers being added to the mortgage, we require a covenant to be included in the TR1 binding the new borrower(s) by all the terms and conditions of the mortgage, as if they had been an original borrower. Please inform us when the transfer has completed so we can update our records.
16.3.7bWhat form of attestation clause does the lender use?
16.4.1 If different from 1.11, contact point for application for consent to letting:
Nationwide Direct (0800 302011) request normally direct to us from borrower by telephone.
If you are aware of the intention to let prior to completion, report to Issuing Office.
16.4.2 Does the lender need to be sent a copy of the proposed tenancy?
16.5.2 If different from 1.11, contact point for confirming proposed deed or agreement will not adversely affect the lender:
CSC1, CST1,
16.5.3aWhere should the deed of variation be sent?
CSC1, CRT2,
16.5.3bWhere should the deed of rectification be sent?
16.5.3cWhere should the deed of easement be sent?
16.5.3dWhere should the option agreements be sent?
17.1.1 If different from 1.11, contact point for redemption statements:
Redemption Statements should be ordered through www.nationwide.co.uk
Lawyers Information - Request for Redemption Statement
17.2.1aWhere do you send the discharge and repayment remittance?
Redemptions CSC1, DX 12500 Moulton Park 4. However, as the discharge is no longer relevant for the majority of cases due to electronic discharges, please send a confirmation letter instead.
17.2.1bDoes the lender send the discharge via a DS 1 form or direct with the Land Registry?
The majority of cases are now dealt with direct at land registry, with just a few cases requiring a DS1 form when the records have not been updated at the land registry (e.g. some ex-regional brands or ex-Portman accounts).