Buy to Let - Scottish Widows Conveyancing Requirements for Properties Let at Completion

Scottish Widows legal requirements are expressed in Part 1 of the CML Handbook which provides that unless it is clear from the mortgage offer that the property is tenanted or is to be let at completion then you must check with Scottish Widows as to whether Scottish Widows lend on "buy-to-let" premises and that the mortgage is for that purpose.

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Last updated on 09/08/2024 Part 2 of the UK Finance Lenders’ Handbook for Scottish Widows 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 Scottish Widows lend on buy-to-let

New Business Processing (see 1.11a).

Where the premises, 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 Scottish Widows mortgage offer or any consent to let Scottish Widows issue. If the letting fails to comply, or no such details are mentioned, you are obliged report the position to Scottish Widows

Part 2 of the UK Finance Lenders’ Handbook for Scottish Widows 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:

New Business Processing (see 1.11a).

Property lawyers on the Scottish Widows 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 Scottish Widows after completion

In addressing the question whether the lender requires a counterpart tenancy agreement to be sent Scottish Widows specifically states:

Yes.

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 Scottish Widows 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 Scottish Widows panel or a buy to let mortgage broker click here.