top of page

27 items found for ""

  • 13. Process Agent | Gatehouse Bank Handb

    13. PROCESS AGENT 13.1 Process Agent If the Client or any Guarantor is based overseas, the Bank will require the Client/Guarantor to appoint a process agent to receive service of process in respect of any proceedings commenced by any party in the courts of in England and Wales arising out of or in connection with each Agreement to which the Client/Guarantor is a party. The form of process agent letter will be provided by the Bank's solicitors during the transaction. The process agent can be a corporate entity or an individual. The only requirement is that they must have a registered or have a residential address in England and Wales and the address and an email address will need to be noted on the letter. The Client/process agent must advise the Bank immediately if there are plans to change the process agent. In case of joint applicants, the first applicant cannot act as a process agent for the second applicant or vice versa. Back to Contents

  • 9. Certificate of Title | Gatehouse Bank Handb

    9. CERTIFICATE OF TITLE (COT) 9.1 Why do you need to provide a COT? One of the Bank's conditions precedents (CPs) for completion is for the Client's Solicitor to provide a signed COT in the form that has been sent to you by the Bank's solicitors. As you are aware, in a conventional setting, you would have the same firm representing client and bank. In the usual way, you would submit a COT to the conventional bank to request drawdown of funds. In Home Purchase Plans and Buy-To-Let Purchase Plans structures, due to the involvement of a lease and the landlord and tenant relationship between the Bank and the Client, each party must be separately represented to avoid any conflicts of interest. Essentially, this is a form of hybrid representation whereby the Bank’s solicitor's involvement is required to ensure compliance with the SRA Code of Conduct as well as monitor satisfaction of the finance CPs in favour of the Bank. The COT will be reviewed by the Bank's solicitors who will prepare an overview report on the security to the Bank including reference to the other documents requested from you. The Bank's solicitors do not undertake any property due diligence nor are they instructed to do so and therefore they cannot and will not provide the COT. 9.2 Who is required to sign the COT? The COT must be signed by a solicitor or Licenced Conveyancer (being a partner employed in your practice) who will be deemed authorised to sign it. Back to Contents

  • Leasehold Conditions | Gatehouse Bank Handb

    Leasehold Conditions Please download, complete and return the finalised notices for the transfer, sublease and charge for approval. Notice of Assignment, Sublease and Charge (existing lease and 3-tier transactions) Notice of Sublease and Charge (new lease and 2-tier transactions) Download Download

  • Document Downloads | Gatehouse Bank Handb

    Documents We Need From You Completion Undertaking COT Letter of Client Advice PG25 Confirmation Letter Documents We Need From Your Client(s) Process Agent Letter Documents We Need About Occupiers and Donors Occupancy Declaration (home purchase/re-finance matters only) Occupier’s Consent (home purchase/re-finance matters only) Occupier's ILA (non-applicant spouses and civil partners only) Donor's ILA (non-applicant spouses and civil partners only) Donor's Consent and Undertaking (non-applicant spouses and civil partners only) Restrictions Certificate of Compliance Template SDLT SDLT Declaration (non-corporate clients only) SDLT Declaration (corporate clients only) Leasehold Conditions Notice of Assignment, Sublease and Charge (existing lease and 3-tier transactions) Notice of Sublease and Charge (new lease and 2-tier transactions) New Build Conditions Certificate of Compliance Template Corporate Customer Conditions Board Minutes (more than one director) Minutes and Resolution (sole director) Directors Certificate (more than one director) Directors Certificate (sole director) Shareholder Resolution - Conflict of Interest (more than one shareholder) Independent Advice Letter – Guarantor Process Agent Letter - Guarantor

  • Documents We Need From You | Gatehouse Bank Handb

    Documents We Need From You Please download, complete and return the Completion Undertaking. Please download, complete and return the Certificate of Title (COT). Please download, complete and return the Letter of Client Advice. Please download, complete and return the PG25 Confirmation Letter Download Download Download Download If you are dealing with a matter instructed before 01/10/2024, you can continue to access the previous version of the undertaking, here . Please note, you do not need to provide a PG25 confirmation letter for matters instructed on or after 01/10/2024.

  • SDLT | Gatehouse Bank Handb

    SDLT Please download, completed and return the SDLT Declaration signed by your client(s). SDLT Declaration (non-corporate clients only) SDLT Declaration (corporate clients only) Download Download

  • 1. Introduction and Purpose | Gatehouse Bank Handb

    1. INTRODUCTION AND PURPOSE This document has been prepared for the use of conveyancers engaged to act for the Bank’s Clients in relation to Home Purchase Plans (“HPP”) and Buy-To-Let Purchase Plans (“BTLPP”) provided by the Bank. Due to the nature of these products, the Bank will be independently represented by its own solicitors on the finance aspects and management of the Conditions Precedents only. The Bank instructs you for the purposes of and will be relying on your Certificate of Title, which incorporates the Law Society and UK Finance approved Certificate of Title, and you agree to this. The Bank is a member of UK Finance but does not use the UK Finance Mortgage Lenders’ Handbook for Conveyancers (the “Handbook”). This document sets out information regarding the main queries generally raised by conveyancers and which may otherwise have been covered by the Handbook. Please ensure you raise any enquiries with the Bank which would ordinarily be answered within Part 2 of the Handbook. Where a contact point is usually requested under the Part 2 requirements, please refer all enquiries to the Bank's solicitors to review and confirm whether the Bank will agree to proceed. Please assume that the Bank requires instructions to be taken on all matters before you can proceed. Back to Contents

  • Home | Gatehouse Bank Handb

    Solicitors' Guide Welcome to the Gatehouse Bank Solicitors' Guide. This resource has been prepared for the use of conveyancers engaged to act for Gatehouse Bank's customers in relation to Home and Buy-to-Let Purchase and Refinance Plans. Handbook Document Downloads

  • 15. Searches | Gatehouse Bank Handb

    15. SEARCHES 15.1 Does the Bank accept search insurance and, if yes, what are the Bank's specific requirements? Purchases You must commission full searches including local search, LLC1, environmental, drainage and water, highways, flood, chancel and any others flagged by the search provider due to the location of the property (e.g., Crossrail, HS2, Mining, etc.). These searches should be no more than 6 months old on completion other than the local search and LLC1 which should be no more than 3 months old on completion. Search validation insurance will be accepted, if the previous searches were satisfactory and are not more than 3 months beyond the dates specified above for purchases. The indemnity insurance will need to be sent to the Bank's solicitors for approval. Please note the insurance conditions contained below, under the heading Search Insurance Criteria. No search insurance is NOT acceptable for purchases. Refinance/Release of Equity Search validation insurance is acceptable, if the previous searches were satisfactory and they are no more than 12 months old or, in the case of the local land charges search 9 months old, on completion, subject to the policy meeting the insurance conditions contained below, under the heading Search Insurance Criteria. No search insurance is acceptable subject to the policy meeting the insurance conditions contained below, under the heading Search Insurance Criteria. Search Insurance Criteria Where search insurance is acceptable to the Bank as per above, the following conditions must be met: i. the Bank's contribution is less than £1 million for refinances. ii. the Property value is less than £500k for purchases. iii. the Bank is a beneficiary of this indemnity insurance until the bank’s charge is settled; iv. the Client's Solicitor and the Bank’s Solicitor are satisfied that the Bank's interests are adequately safeguarded (at Client's risk); v. the insurance covers all usual searches that would be undertaken (local, land charges, drainage, chancel, environmental, highways, etc.); vi. the insurance provider is authorised by the PRA/FCA to provide such insurance; vii. the sum insured under the policy is an amount that is at least equal to the open market value of the property; viii. the Client’s Solicitor certifies that the title is good and marketable and provides a clear and unqualified Certificate of Title without any disclosures (save with respect to the searches covered by the policy); and ix. all indemnity insurance will need to be sent to the Bank's solicitors for approval. 15.2 Does the Bank accept personal searches? Yes, the Bank will accept personal searches. The search provider must have appropriate professional indemnity insurance in place to cover the value of the property. Back to Contents

  • 6. Funds Flow | Gatehouse Bank Handb

    6. FUNDS FLOW 6.1 Finance of Deposit/Balance – Gift/Second Mortgagee Please confirm expressly if the Client will be obtaining funds from another third party to either pay for the deposit (if any) or fund the balance required to purchase or refinance the property. If funds were or are being gifted from another source, the Bank's solicitors will require a Gift Letter (setting out the details of the gift and confirmation that the donor will not acquire any interest in the property) to be signed. The donor, as an interested party, may also need to be independently advised. Please see paragraph 3.5 above for cases where independent legal advice is required. The Bank will not agree to the involvement of another financial institution in financing or taking over the property or the grant of a second charge. Please ensure that you obtain a clear bankruptcy search and insolvency act indemnity insurance policy against the donors of any gifts before completion. 6.2 Funds Held in Joint Account Funds held in the joint account used to fund the Client’s Contribution are not considered as gifted deposit. However, the Joint account holder(s) must sign a waiver of interest/ rights form but are not required to be provided with independent legal advice unless the circumstances at 3.5 apply. Back to Contents

  • Documents We Need From Your Client(s) | Gatehouse Bank Handb

    Documents We Need From Your Client(s) If any of your clients based overseas, please download, complete and return a Process Agent Letter. Download

  • Handbook Contents | Gatehouse Bank Handb

    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

©2022 Gatehouse Bank plc

bottom of page