Buy to Let - Skipton Building Society Conveyancing Requirements for Properties Let at Completion

Skipton Building Society legal requirements are explicit in Part 1 of the Council of Mortgage Lenders’ 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 Skipton Building Society as to whether Skipton Building Society lend on "buy-to-let" properties and that the mortgage is for that purpose.

Need help with "Buy to Let" from Skipton Building Society?

Last updated on 23/02/2024 Section Two of the UK Finance Lenders’ Handbook for Skipton Building Society 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 Skipton Building Society lend on buy-to-let

Buy to let Properties clearly state so on the Offer and will state the mortgage is unregulated. If not,please report to us as the case will have to be re-assessed and re-offered, if approved, on a Buy to Let basis. Please note we do not accept Buy to Let applications where members of the family occupy or will occupy.

For leasehold properties:
- the letting must not breach any of the lessee’s covenants; and
- consent of the lessor must be obtained if necessary

Where the residence, or part of it, is currently let, or is to be let at completion, then the letting must comply with the details set out in the Skipton Building Society mortgage offer or any consent to let Skipton Building Society issue. If the letting does not comply, or no such details are specified, you must notify the position to Skipton Building Society

Part 2 of the UK Finance Lenders’ Handbook for Skipton Building Society deals with who you need to 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:

(i) Completions Team via LMS Secure Link
(ii) Commercial Servicing Team

Property lawyers on the Skipton Building Society 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 Skipton Building Society after completion

In considering whether the mortgage company requires a counterpart tenancy contract to be sent Skipton Building Society says:

No.

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 Skipton Building Society 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 Skipton Building Society panel or a buy to let mortgage broker click here.