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1. INTRODUCTION AND PURPOSE

 

2. DEFINED TERMS AND INTERPRETATIONS

(a) Definitions

(b) Interpretations

 

3. DIMINISHING MUSHARAKAH STRUCTURE AND ADVICE

3.1 How will the Bank's financing operate?

3.2 Acquisition Payment Profile

3.3 Ability to Advise the Client on the Finance Documents

3.4 Legal Advice to the Client

3.5 Legal Advice to Interested Parties (Guarantor, Donor or other)

3.6 Independent Legal Advice Letter for Guarantors, etc.

3.7 Subordination of Shareholder/Director Loans

3.8 Joint Applicants

 

4. LEASEHOLD QUERIES

4.1 Notices to Landlord/Management Company

4.2 Shares in the Freehold/Management Company

4.3 Energy Service Agreements

4.4 Alienation Restrictions in the Superior Lease

4.5 Ground Rent limits

4.6 Seller/Developer Unwilling to Transfer to Bank

4.7 Lease Term

4.8 Leasehold Interest with Freehold Charge

4.9 Enfranchisement

4.10 Building Safety Act 2022

 

5. THE DOCUMENTS

5.1 Original Documents

5.2 Additional Documents

5.3 Amendments to Agreements

5.4 Witnessing Documents

5.5 Offer Letter

 

6. FUNDS FLOW

6.1 Finance of Deposit/Balance – Gift/Second Mortgagee

6.2 Funds Held in Joint Account

 

7. STAMP DUTY LAND TAX (SDLT) AND CAPITAL GAINS TAX (CGT)

7.1 Submitting Returns and Paying SDLT

7.2 SDLT Additional Relief

7.3 SDLT Rebates

7.4 Capital Gains Tax (CGT)

7.5 Tax Planning

 

8. INSURANCE

8.1 New Home Warranty Schemes

8.2 Indemnity Insurance

8.3 Absent or Insolvent Landlords

8.4 Buildings Insurance

 

9. CERTIFICATE OF TITLE (COT)

9.1 Why do you need to provide a COT?

9.2 Who is required to sign the COT?

 

10. DISCLOSURES

10.1 Disclosures to the COT

10.2 Disclosure of Incentives

10.3 Environmental Reporting

10.4 EPC Ratings

10.5 Licences

10.6 HMO Licenses – Refinance

10.7 Title Guarantee

10.8 Unencumbered Title

10.9 Flying Freehold Conditions

10.10 Crisscross Leases (Sometimes known as “Tyneside Leases”)

 

11. COMPLETION

11.1 Offshore Seller

11.2 Notice of Completion to the Bank

11.3 Funds Remittance – when will they be available?

 

12. POST COMPLETION

12.1 Registration

12.2 Removal of Security

12.3 Legal Representation on Redemption

 

13. PROCESS AGENT

13.1 Process Agent

 

14. CORPORATE FAQs

14.1 Board Minutes and Director's Certificate

14.2 Copies of the Corporate Authorisations

 

15. SEARCHES

15.1 Does the Bank accept search insurance and, if yes, what are the Bank's specific requirements?

15.2 Does the Bank accept personal searches?

 

16. POLICY EXCEPTIONS

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