Policy Change for Gen H Solicitor Panel
Change Date: 02/10/2023
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2023 No.1051
Policy changes relevant to
Gen H
Solicitor Panel
| Updated |
|
02/10/2023 |
| 1.7- Contact point to see if the lender will lend when borrower and mortgagor are not one and the same. |
|
We can lend in certain circumstances. Please raise any enquiries via Secure Link which is accessed via LMS Conveyancer Zone or contact us via email at conveyancing@generationhome.com. |
| 1.11a- Contact point for standard documents. |
|
Where a conveyancer is instructed to act on our behalf, they will be notified of the instruction by our panel manager LMS and must access the instruction through the LMS Conveyancer Zone website. The instruction will include a copy of the mortgage offer and any supporting documents. If there are questions relating to the documents please raise a query via Secure Link which is accessed through LMS Conveyancer Zone or contact us via email at conveyancing@generationhome.com. |
| 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? |
Please do not advise us of the firm acting for the
|
Please do not advise us of the firm acting for the seller unless we request this information. |
| 3.1.5- What other documents are acceptable for verifying identity? |
You should ensure that you are happy that you have satisfied
your obligations |
You should ensure that you are happy that you have satisfied your obligations regarding the verification of your client(s) identity and retain a certified copy of any documentation you have relied on. |
| 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? |
Please do not advise us of the firm acting for the
|
Please do not advise us of the firm acting for the seller unless we request this information. |
| 4.1- Is there a valuation report and if so, does the lender provide it? |
The valuation report will be provided to you with the
mortgage offer unless we |
The valuation report will be provided to you with the mortgage offer unless we inform you otherwise. |
| 4.5b- Where should the certificate of title be sent? |
|
A link will be emailed to our conveyancer to complete the certificate of title. If you have any queries please raise via Secure Link which is accessed via LMS Conveyancer Zone or contact us via email at completions@generationhome.com. |
| 5.4.5- Does the lender accept personal searches and, if yes, what are the lender's requirements? |
Yes, provided the search agent has adequate professional
indemnity insurance and that the search firm subscribes to
the Search Code maintained by the Council of
|
Yes, provided the search agent has adequate professional indemnity insurance and that the search firm subscribes to the Search Code maintained by the Council of Property Search Organisation and monitored by the Property Codes Compliance Board. |
| 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. |
You must report any circumstances where the balance of the
purchase price is not being provided in accordance with Part
1 and in doing so must wait for our written instructions
prior to proceeding. We do not accept deposits sourced from
unsecured credit facilities or personal borrowing. Gifts are acceptable from close relatives of one of the Owner(s). A “Close Relative” is defined as parents (including step-parents), children (including step-children), grandparents, siblings (including half-siblings and step-siblings), uncles and aunts (Siblings of parents only). Gifts from third parties, including friends and employers are not acceptable. We will require you to report the circumstances of any gifts we are unaware of. You must confirm the following information • • Their relationship to the borrowers(s) • The amount being gifted • The gift donors email address We require you to retain a signed letter from the gift donors confirming the following information: • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and is an unconditional gift, and the donor(s) providing the gift will not acquire an interest in the property You must obtain clear bankruptcy searches against all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. We do not consent to a second charge. |
You must report any circumstances where the balance of the
purchase price is not being provided in accordance with Part
1 and in doing so must wait for our written instructions
prior to proceeding. We do not accept deposits sourced from
unsecured credit facilities or personal borrowing. Gifts are acceptable from close relatives of one of the Owner(s). A “Close Relative” is defined as parents (including step-parents), children (including step-children), grandparents, siblings (including half-siblings and step-siblings), uncles and aunts (Siblings of parents only). Gifts from third parties, including friends and employers are not acceptable. We will require you to report the circumstances of any gifts we are unaware of. You must confirm the following information to us via Secure Link which is accessed on the LMS Conveyancer Zone: • The gift donors full name • Their relationship to the borrowers(s) • The amount being gifted • The gift donors email address We require you to retain a signed letter from the gift donors confirming the following information: • The name and address of the family member gifting the deposit • Their relationship to the borrowers(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and is an unconditional gift, and the donor(s) providing the gift will not acquire an interest in the property You must obtain clear bankruptcy searches against all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. We do not consent to a second charge. |
| 5.14.1- What minimum unexpired lease term does the lender accept? |
Leases must have at least |
Leases must have at least 85 years unexpired on commencement of the mortgage with a minimum of 50 years remaining at the end of the mortgage term. Please ensure that you explain the implications of a short term lease to the borrower. |
| 5.14.15b- Does the lender accept indemnity insurance if the landlord is absent or insolvent? |
Yes, at our discretion and you are to report this to us for
|
Yes, at our discretion and you are to report this to us for consideration via Secure Link which is accessed on the LMS Conveyancer Zone. |
| 6.4.4- Does the lender require me to report incentives? | Yes, you need to notify us of any incentives as detailed at 1.11a. Full information regarding all incentives, allowances or discounts must be disclosed to us. If relevant you should also provide us with a copy of the completed UK Disclosure of Interests Form as soon as possible prior to submission of your Certificate of Title. | Yes, you need to notify us of any incentives as detailed at 1.11a. Full information regarding all incentives, allowances or discounts must be disclosed to us. If relevant you should also provide us with a copy of the completed UK Finance Disclosure of Interests Form as soon as possible prior to submission of your Certificate of Title. |
| 6.7.1- What new home warranty schemes are acceptable to the lender? |
The following 10 year Structural Warranties are acceptable
for new builds/ renovations (including properties that were
built or renovated within the last 10 years): National House-Building Council Buildmark Scheme (NHBC) Zurich Municipal Newbuild Scheme Zurich Municipal Rebuild Scheme Premier Guarantee for Private and Completed Housing Build Assure (FMB) Building Life Plans Scheme Buildzone LABC Warranty LABC Warranty Scheme ICW Warranty Scheme One Guarantee Warranty Scheme Castle Ten / checkmate Global Home Warranties Protek Q Assure Advantage HCI UK Finance Compliant Professional Consultant’s Certificate (Where the Professional Consultants acceptable qualifications and indemnity cover are checked by the |
The following 10 year Structural Warranties are acceptable
for new builds/ renovations (including properties that were
built or renovated within the last 10 years): National House-Building Council Buildmark Scheme (NHBC) Zurich Municipal Newbuild Scheme Zurich Municipal Rebuild Scheme Premier Guarantee for Private and Completed Housing Build Assure (FMB) Building Life Plans Scheme Buildzone LABC Warranty LABC Warranty Scheme ICW Warranty Scheme One Guarantee Warranty Scheme Castle Ten / checkmate Global Home Warranties Protek Q Assure Advantage HCI UK Finance Compliant Professional Consultant’s Certificate (Where the Professional Consultants acceptable qualifications and indemnity cover are checked by the conveyancer in accordance with the UK Finance Mortgage Lenders’ Handbook 6.7.4.) |
| 6.7.4- Will the lender proceed if the property does not have the benefit of a new home warranty scheme? |
We normally do not lend, however, please report to us as
detailed in 1.11a if the property does not benefit from a new
home warranty scheme but will before exchange or does already
benefit from |
We normally do not lend, however, please report to us as detailed in 1.11a if the property does not benefit from a new home warranty scheme but will before exchange or does already benefit from an acceptable Professional Consultant's Certificate. |
| 10.7- On a delayed completion, when and how is advance to be returned? |
By CHAPS within one working day of the scheduled completion
date as confirmed in the Certificate of Title, to arrive no
later than the working day following the scheduled completion
date. You must ensure that all funds released to you are
returned if completion is delayed. You are to also
immediately notify us |
By CHAPS within one working day of the scheduled completion date as confirmed in the Certificate of Title, to arrive no later than the working day following the scheduled completion date. You must ensure that all funds released to you are returned if completion is delayed. You are to also immediately notify us via Secure Link which is accessed via LMS Conveyancer Zone once monies are returned quoting the mortgage reference number. |
| 10.9- If different from 1.11, contact point if completion is delayed? |
You are to immediately notify us |
You are to immediately notify us via Secure Link which is accessed via LMS Conveyancer Zone in all instances of delayed completions. |
| 14.1.5- Does the lender need to be sent the original mortgage deed and/or any other original title documents? |
No. Please provide the certified copy documents listed at
14.2.2 to us within 7 working days of completion. Please note that we accept electronically executed documents including mortgage deeds. Any deeds to be registered at Land Registry must be electronically executed in a form set out in their Practice Guide 82. Following completion, please confirm when you have submitted the application for registration of our charge to Land Registry and confirm any likely timescales for completion of the application that Land Registry have provided to you. |
No. Please provide the certified copy documents
listed at 14.2.2 to us within 7 working days of
completion. Please note that we accept electronically executed documents including mortgage deeds. Any deeds to be registered at Land Registry must be electronically executed in a form set out in their Practice Guide 82. |
| 14.2.1- Where should the title deeds and documents be sent? |
Any post-completion and charge registration documents as set
out in 14.2.2 or post-completion information requests or
confirmation of any charge registration delay reasons should
all be sent to Please |
Any post-completion and charge registration documents as set out in 14.2.2 or post-completion information requests or confirmation of any charge registration delay reasons should all be sent to us via the LMS Conveyancer Zone. Please note that title documents provided will not be examined and any unnecessary pre-registration documents or deeds or other documents or deeds not required to be received by us should be handed to the Borrower. |
| 14.2.2- Which documents must I send after completion? |
You are required to provide the following documents within 7
working days of completion to
• Certified copy of the completed mortgage deed • Certified copy of the Deposit Booster Agreements (if applicable) • Certified copy of the Home Agreement (if applicable) • Certified copy of Power of Attorney and certified copy of Statutory Declaration of non-revocation of Power of Attorney (if applicable) • Occupier's Consent and Postponement Deed (if applicable) • New Build Warranty or Professional's Consultant's Certificate (if applicable) • Official Copy of the Title Register noting our registered charge (once registered) Where you have been unable to register our charge within forty days of the completion date, you are required to update us as detailed in 14.2.1 with a reason for the delay of registration of our charge and again at least every thirty days until registration is complete and all of the required documents have been provided. |
You are required to provide the following documents within 7
working days of completion to us via the LMS Conveyancer
Zone: • Certified copy of the completed mortgage deed • Certified copy of the Deposit Booster Agreements (if applicable) • Certified copy of the Home Agreement (if applicable) • Certified copy of Power of Attorney and certified copy of Statutory Declaration of non-revocation of Power of Attorney (if applicable) • Occupier's Consent and Postponement Deed (if applicable) • New Build Warranty or Professional's Consultant's Certificate (if applicable) • Official Copy of the Title Register noting our registered charge (once registered) Where you have been unable to register our charge within forty days of the completion date, you are required to update us as detailed in 14.2.1 with a reason for the delay of registration of our charge and again at least every thirty days until registration is complete and all of the required documents have been provided. |
| 16.3.7b- What form of attestation clause does the lender use? |
|
Executed as a Deed for and on behalf of Imagine Mortgages Limited by a duly authorised signatory. |
| 16.5.2- If different from 1.11, contact point for confirming proposed deed or agreement will not adversely affect the lender: |
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Secure Link which is accessed via LMS Conveyancer Zone or contact us via email at conveyancing@generationhome.com. |
| 16.5.3a- Where should the deed of variation be sent? |
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Secure Link which is accessed via LMS Conveyancer Zone or contact us via email at conveyancing@generationhome.com. |
| 16.5.3b- Where should the deed of rectification be sent? |
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Secure Link which is accessed via LMS Conveyancer Zone or contact us via email at conveyancing@generationhome.com. |
| 16.5.3c- Where should the deed of easement be sent? |
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Secure Link which is accessed via LMS Conveyancer Zone or contact us via email at conveyancing@generationhome.com. |
| 16.5.3d- Where should the option agreements be sent? |
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Secure Link which is accessed via LMS Conveyancer Zone or contact us via email at conveyancing@generationhome.com. |
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