Conveyancing Handbook

Product Information

Additionally, in respect of the First Charge Mortgage you are required to confirm one of the following in your Solicitor’s Form 2 Undertaking: As in all cases, amendments should be restricted to those that are essential to meet the circumstances of an individual case. Where can you find the Standard Conditions of Sale?

The consent of any guarantors of which the solicitor is aware must be obtained before the transfer of equity is completedSame as Part 1 in the UK Finance Lenders’ Handbook for Conveyancers – and in addition you must carry out either: Before any funds are released, including the initial nominal sum, the legal title must be vested in the borrower. After the first instalment, which will be paid to the solicitor, the instalments may be sent to the borrower directly.

All parties must execute the deed of release or deed of accession (as applicable) before it is sent to the Mortgage Administrator for execution together with the draft form of transfer and covering letter explaining the consequences of the transfer. If the Property Information Form states the name of a person who is to live at the Property, you should ask the Borrower before completing the Equity Mortgage that the information given to us in the Property Information Form about any occupants aged 17 or over is correct and no other persons aged 17 or over will live at the Property. We have already been updating some of our standard letters as a result of having access to the toolkit, which is as good a recommendation as I can give. This sort of book, with everything in one place, is value for money. If you need to report a matter to us you must do so as soon as you become aware of it so as to avoid any delay. If you do not believe that a matter is adequately provided for in the Handbook, you should:

Using the Standard Conditions of Sale

Estate Rent Charge means a rentcharge created pursuant to Section 2(4) of the Rentcharges Act 1977. Nothing in this section overrides a solicitor's duty to the lender via the instructions provided elsewhere in the CML handbook. Following completion, the Property must be used as the Borrower’s principal residence. If this is not the case, you must immediately report the position to us (via the Help to Buy Agent). the full re-instatement value of the Property recommended by the First Charge Mortgage Lender’s Valuation Report (and any building it forms part of); or