11. COMPLETION 11.1 Offshore Seller If the seller of the property is not incorporated in England and Wales, the Bank's solicitors will need confirmation that the seller is active/solvent as at the date of completion before drawdown can take place. Please either provide a legal opinion, a certificate of good standing and a certificate of incumbency or a clear winding up/solvency search on the seller dated the date of completion. Please also ensure that the Seller is registered at Companies House and provide the Bank’s solicitors with the Seller’s official Overseas Entity number following completion. 11.2 Notice of Completion to the Bank The Bank requires five business days' notice of the intention to complete. All conditions must be satisfied five business days before completion for drawdown to take place. 11.3 Funds Remittance – when will they be available? Funds are sent from the Bank to the Bank's solicitors on the day of completion. The Bank's solicitors will deduct the necessary disbursements (as per the contribution statement sent to the Client's Solicitor) and send the balance to the Client's Solicitor by CHAPS. This is held to the Bank's solicitors' order. You must confirm to the Bank's solicitors when funds are received so that you can be released from your undertaking to hold funds to order. If completion does not take place on the day the funds are remitted, you must return funds to the Bank's solicitors by 2 pm next working day as funds will need to be returned to the Bank. The Bank’s solicitors may charge an admin fee if they are required to send funds to you again so please ensure that all parties involved are ready to complete before requesting funds. Back to Contents

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.

New Build Conditions If required, please use the certificate of compliance template below. Download

4. LEASEHOLD QUERIES 4.1 Notices to Landlord/Management Company Where required, any notice of transfer, sublease and charge are to be served pursuant to the Superior Lease (meaning the lease (if any) by which the Property is vested in the Bank) by the Client's Solicitor once completion has taken place. You must provide copies of the receipted notices to the Bank's solicitors. The Bank's solicitors will provide you with template notices during the transaction for you to complete and submit along with the required fee. 4.2 Shares in the Freehold/Management Company The Client's Solicitor is required to confirm if there is a management company and whether a 'purchaser' (i.e., the Bank) is required to become a member or shareholder of the management company. The Bank would prefer your Client to become a member or shareholder of the Management Company but acknowledges that this may not always be possible. If your Client becomes a member or shareholder, the Bank will require a signed, but undated, stock transfer form to allow transfer of the management share(s) to the Bank if required. Please liaise with the management company and/or freeholder to confirm whether your Client can become the member of the management company. If that is not possible, please confirm whether the Bank must become a member and what is required for the Bank to become a member and provide the forms for completion. If the Bank is required to become a member or shareholder, please confirm with the Management Company and/or freeholder if your Client can be appointed as the Bank’s Proxy, as that would be the Bank’s preference. 4.3 Energy Service Agreements Where the lease requires the leaseholder to enter into an energy service agreement, you should ensure that the Client can enter into this instead as the underlesee. 4.4 Alienation Restrictions in the Superior Lease Please ensure you review the alienation provisions and restrictions in the Superior Lease as soon as possible and liaise with the relevant third parties urgently to obtain any consents and/or licences and/or deeds of covenant required for the transaction. Please note that where any licences, deeds of covenants or Leases need to be executed by the Bank, we expect these documents to be fully vetted by your firm as the certifying solicitor. Any unusual terms must be reported to us in an addendum to the Certificate of Title for consideration. All costs associated with any such documents and notices must be borne by the Client. For ease, please note that there are multiple stages to this facility including: a) the transfer of the property to the Bank from either the seller or Client; b) the Lease from the Bank to Client; and c) the charge granted from the Client to the Bank. Please note, the Lease (between the Bank and the Client) is drafted so that it terminates on the Final Completion Date (as defined in the Diminishing Musharakah Agreement) at which stage the Bank has promised to sell the property to the Client and the Client has promised to buy the property from the Bank. Therefore, the Lease does not provide security of tenure which may assist in analysing whether consent is required under the Superior Lease. Please also note that the Lease requests the Client to give the following covenant in the Schedule, paragraph 6: "To observe and perform and comply with the lessee's covenants in any Superior Lease (if any) to the extent that those covenants are not already required to be complied with under the provisions of the Lease". If the landlord and/or management company have confirmed that a requirement in the Superior Lease is waived in light of the financing structure, you must provide the Bank's solicitors with written evidence to be relied upon. 4.5 Ground Rent limits You must flag to the Bank's solicitors whether the current or future ground rent will exceed 0.1% of the value of the property. The Bank's solicitors will report this to the Bank and valuer for consideration. The Bank will not accept ground rent reviews that are reviewed more frequently than every 5 years against RPI or equivalent index. 4.6 Seller/Developer unwilling to transfer to Bank If the developer and/or seller does not agree to directly grant the lease of/sell the property to the Bank, the structure will be as follows: a) the lease/sale from the developer/seller to the Client; b) the transfer of the property from the Client to the Bank; c) the Lease from the Bank to the Client; and d) the charge granted from the Client to the Bank. All four stages (a) to (d) above will take place simultaneously. The Bank will not take an assignment of the contract. The contract must have been entered into only by the Client. 4.7 Lease Term The minimum unexpired lease term for any leasehold property must be 70 years from the date of completion, subject to 40 years remaining at the end of the finance term. The Superior Lease must not contain any onerous or unusual covenants or restrictions. There must be no outstanding disputes in relation to any breach of provision and all sums due under the Superior Lease must be paid up to the date of completion. Where the Superior Lease term is shorter than the valuer has indicated in their valuation, this should be flagged to the Bank's solicitors to refer back to the valuer for consideration. 4.8 Leasehold Interest with Freehold Charge Where the client holds/is purchasing the leasehold and the Client also owns/will own the freehold interest in the property, the Bank will require (in addition to holding registered leasehold title as per the diminishing Musharakah structure) a charge over the freehold interest as well. Where a leasehold is being financed and your Client or the ultimate beneficial owner of your Client owns or controls (whether through shareholding, directorship or otherwise) the freehold, the Bank will require a charge over both the leasehold and freehold. 4.9 Enfranchisement Following completion, the Bank will become the registered proprietor of the title to the Property and this could affect your Client’s ability to make an application to extend the lease or acquire an interest in the freehold/superior title. The Bank would prefer not to be involved with any such application and so your Client should arrange for any such transaction to take place before completion. 4.10 Building Safety Act 2022 If the Property is leasehold, you must determine whether the property is located in a ‘relevant building’ as defined in the Building Safety Act 2022. If the Property is impacted by the Act, you must procure and confirm: a) Confirmation as to whether the building has been or will be remediated under the Building Safety Act 2022. b) Copies of any Landlord’s Certificates, signed by the Landlord in the form set out in the Building Safety (Leaseholder Protections) (England) Regulations 2022. c) Copies of any executed Leaseholder Deed of Certificate (in the form set out in the Building Safety (Leaseholder Protections) (England) Regulations 2022) and confirmation that they have been submitted by the relevant leaseholder to the landlord. d) The developer has signed a Developer's Remediation Contract with the Government. If any of the above cannot be confirmed, please refer to the Bank for further instructions and comments from the valuer. In all cases, you must advise your client of the consequences, including any unavailability of a cap on a financial contribution to remediation costs through the service charge levied by the freeholder and your client’s liability to the Bank for those costs under the Purchase Plan terms and conditions. Back to Contents

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

7. STAMP DUTY LAND TAX (SDLT) / LAND TRANSACTION TAX (LTT) and CAPITAL GAINS TAX (CGT) 7.1 SDLT / LTT in the Context of Islamic Finance There are usually three stages for each transaction: (i) the transfer of the property from the Client/seller to the Bank; (ii) the Lease from the Bank to Client; and (iii) the transfer from the Bank to the Client on maturity. On a refinance, all three stages (i) to (iii) are exempt from SDLT under the alternative property financing rules (refer to the Finance Acts). In box 9 of the Return, the answer will be 'yes' and the code will be 24 and boxes 14-15 will be £0.00 as no SDLT will be payable. On a purchase, stage (ii) and (iii) are exempt from SDLT under the alternative property financing rules however stage (i) (where it is a transfer from the seller to the Bank) attracts SDLT in the usual way and is payable by the Client. If on maturity, if the Client sells the property and the Bank is required to transfer it to a third-party buyer, the buyer will pay SDLT in the usual way. If the Client is not selling the property and the Bank is required to transfer it back to the Client, the Client will not be required to pay SDLT. If the Client is buying a new build property and the developer is unable to grant the lease directly to the Bank, there will be an additional stage (making it four stages). In which case, SDLT is payable on the initial lease/sale from the developer to the Client, and the remaining three stages (i) to (iii) above are exempt. HM Revenue and Customs (HMRC) have prepared a guide on the use of alternative property finance relief, which you can access here . The Land Registry's Practice guide 69 deals with Islamic Finance and SDLT on Diminishing Musharakah at section (3)(2). You may also wish to refer to the Finance Acts, which contain provisions on alternative financing and the tax treatment. 7.2 Submitting Returns and Paying SDLT / LTT You are required to draft and submit all SDLT / LTT returns and pay any SDLT / LTT due to HMRC / The Welsh Revenue Authority (WRA) within the relevant timeframe. You will need to provide copies of all returns to the Bank's solicitors to review. You are responsible for ensuring any tax liability has been calculated correctly and that the returns are completed accurately. In particular, you must ensure: 1. The correct reference is used with any payment you submit to HMRC / WRA; 2. Payment of any tax due is made against the correct return; 3. Any relief being claimed is applied correctly; 4. Each return is completed accurately and in full; and 5. All returns and payments are submitted within the required timeframes. A return is required for each disposal. In relation to the return where the Bank is the purchaser, you should be noted as the agent. Satisfaction of the conditions precedent relating to SDLT / LTT in the conditions precedent checklist by the Bank’s solicitors may be taken as confirmation you have the Bank’s authority to submit this return on the Bank’s behalf. The Bank will not sign the Return unless you are submitting a postal return. If an SDLT5 Certificate is not submitted with your application, you must provide an explanation to HM Land Registry as to why it is not required. You may wish to adapt the following template letter, which has been provided by HM Land Registry, for that purpose. Dear Land Registry Property: [full property description of the property in respect of which the lease is granted] There is no requirement to file an SDLT return where (as in this case) an alternative property finance arrangement has been used to comply with sharia law, and the alternative finance provider pays the SDLT under the arrangement. In accordance with section 71A(3) of the Finance Act 2003, a second transaction is exempt from charge if the SDLT requirements relating to the first transaction are complied with, including payment of any stamp duty land tax due on the first transaction. We hereby confirm that the Property has been purchased by [name of tenant under the lease] under an alternative sharia property finance arrangement. This transaction is the second transaction under the arrangement, and we confirm that all SDLT provisions as required by the Finance Act 2003 relating to the first transaction have been complied with. Therefore, the second transaction which forms the subject of this lease application is not notifiable and an SDLT return is not required. Yours faithfully [lodging conveyancer name] You will need to retain the SDLT5 certificate for your Land Registry applications. Once completion has taken place, the Bank’s solicitors will provide to you via email a URL to an online form. You must complete the online form to provide details of your SDLT / LTT submission within 14 days of completion. 7.3 SDLT Additional Relief If you are proposing to use any relief other than code 24 (e.g. group relief or multiple dwellings relief) you are required to expressly provide the Bank's solicitors with a copy of the tax advice received by the Client confirming why the relief has been sought and on what grounds for our information only. The Bank's solicitors may need to refer this to their tax team for comments. 7.4 SDLT Rebates Please advise your Client that it is their responsibility to trigger the process where an SDLT rebate is applicable. Your Client/your firm should advise the Bank/the Bank’s solicitor as soon as you become aware that a rebate is to be applied for. 7.5 Tax Planning It is the customer’s responsibility to declare any tax planning at the outset and the Bank reserves the right to take further advice on the same, at the customer’s cost. Back to Contents

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

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

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

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

12. POST COMPLETION 12.1 Registration You will be responsible for dealing with registration at HM Land Registry. To confirm, the registrations will usually include the following: i. registration of the transfer or lease to the Bank; ii. registration of the lease from the Bank to the Client (if for a term over seven years) or noting the lease on the Property title held by the Bank (if for a term of seven years or less); and iii. registering the Bank's legal charge over the leasehold title if the lease is registrable pursuant to (ii) above. The consideration and/or the price paid/value to be quoted on Land Registry applications is the purchase price paid to the seller/transferor of the property or, in the case of a re-finance, the property value (not the finance amount). You may wish to refer to the general guidance provided below when submitting your applications to HM Land Registry. Please note that the information provided below is for general guidance only. You are responsible for ensuring that any application submitted to HM Land Registry is accurate and complete. Please ensure you complete the registrations as agreed in the conditions precedent checklist. a) Application(s) before the transfer/assignment to the Bank Where there is an initial transfer of equity, or an initial transfer/grant/assignment from the vendor(s) to your client(s), please submit this application before submitting the application for the transfer/assignment to the Bank. In exceptional cases, it may be necessary to submit two applications before the application for the transfer/assignment to the Bank. For example, this may occur where there is (1) an initial transfer from an existing Diminishing Musharakah facility provider to the original applicants of that facility, followed by (2) a transfer of equity, which would both need to be completed before the transfer/assignment to the Bank. b) Application for the transfer/grant/assignment to the Bank Please note the following important points when completing the relevant fields in the online system through which the application is submitted to HM Land Registry (Digital Registration Service accessed via portal or Business Gateway): As the certifying lawyer acting on behalf of the Bank in this matter, you are instructed by the Bank to submit this application on its behalf. Please ensure that your submission to HM Land Registry clearly states that you are acting for the Bank. You must note in your application that this is one of two or more connected Islamic finance applications and you must provide the reference(s) for the other connected application(s). Please note that it is not possible to communicate this through the fields in DRS (as it used to be possible with a paper Form AP1) so you will need to upload correspondence to confirm. You would typically need to submit the following documents with this application: 1. TR1/TP1/New Lease executed by the transferor/lessor 2. SDLT5 Certificate 3. Any other documentation required by HM Land Registry, such as a Certificate of Compliance, Grant of Probate, Marriage Certificate, etc. c) Application for the leaseback to your client(s), and charge in favour of the Bank Please note the following important points when completing the relevant fields in the online system through which the application is submitted to HM Land Registry (Digital Registration Service accessed via portal or Business Gateway): Land Registry requires that all parties to the transaction (including the Bank’s attorney) must be accounted for with regard to evidence of identity. The Land Registry system will prompt you to confirm the position with regard to each party to the transaction. The Bank’s attorney is not represented. We confirm that sufficient steps have been taken to verify their identity, enabling you to provide the necessary confirmation to HM Land Registry in your application. Please ensure the leaseback is submitted as a new lease application and not as a dealing. You must note in your application that this is one of two or more connected Islamic finance applications and you must provide the reference(s) for the other connected application(s). Please note that it is not possible to communicate this through the fields in DRS (as it used to be possible with a paper Form AP1) so you will need to upload correspondence to confirm. You would typically need to submit the following documents with this application: 1. The Lease, as a single document comprising: The Lease executed by the Bank The Diminishing Musharakah Agreement executed by the Bank The Service Agency Agreement executed by the Bank A copy of the Terms and Conditions 2. The Legal Charge, as a single document comprising: The Legal Charge executed by your client(s) The Diminishing Musharakah Agreement executed by your client(s) The Service Agency Agreement executed by your client(s) The Terms and Conditions Acknowledgement executed by your client(s) A copy of the Terms and Conditions 3. Where there are two or more applicants to the facility, a completed Form JO to confirm how your clients are to hold the leaseback title. Alternatively, you may manuscript amend LR14 of the lease executed by the Bank to add the declaration of trust. We confirm you have the Bank’s authority to amend LR14 as may be required, provided (1) you do so in accordance with the requirements of HM Land Registry Practice Guide 82, and (2) you amend the counterpart signed by your client(s) so both versions of the signed lease contain identical terms. 4. The PG82 Certificate confirming the Bank-signed Lease, Diminishing Musharakah Agreement, and Service Agency Agreement have been signed in accordance with HM Land Registry Practice Guide 82. 5. The certified copy of the Power of Attorney executed by Gatehouse Bank plc, pursuant to which the Lease, Diminishing Musharakah Agreement, and Service Agency Agreement have been executed on its behalf. 6. An RX1 to create the restriction noted in the Legal Charge. You will need to prepare the RX1, as we do not provide this or any standard wording. Please note that more recent versions of the finance documents contain an MD reference. Where the finance documents contain an MD reference, you do NOT need to submit an RX1 to apply for the restriction noted in the Legal Charge, and HM Land Registry will add the restriction automatically for you. 7. An SDLT5 Certificate, if you consider this to be required. If an SDLT5 Certificate is not submitted with your application, you must provide an explanation to HM Land Registry as to why it is not required. You may wish to adapt the following template letter, which has been provided by HM Land Registry, for that purpose: “Dear Land Registry Property: [full property description of the property in respect of which the lease is granted] . There is no requirement to file an SDLT return where (as in this case) an alternative property finance arrangement has been used to comply with Sharia law, and the alternative finance provider pays the SDLT under the arrangement. In accordance with section 71A(3) of the Finance Act 2003, a second transaction is exempt from charge if the SDLT requirements relating to the first transaction are complied with, including payment of any stamp duty land tax due on the first transaction. We hereby confirm that the Property has been purchased by [name of tenant under the lease] under an alternative Sharia property finance arrangement. This transaction is the second transaction under the arrangement, and we confirm that all SDLT provisions as required by the Finance Act 2003 relating to the first transaction have been complied with. Therefore, the second transaction which forms the subject of this lease application is not notifiable and an SDLT return is not required. Yours faithfully [lodging conveyancer name] " 8. Where required, a Certificate of Compliance for the grant of the leaseback. 9. Where your client is a corporate entity, a copy of the Companies House Certificate of Registration of Charge. Please download this document from the Companies House website. You may also wish to consider including the following wording in your application: “Companies House Registration Certificate. Charge dated [………]. Certificate of registration of charge at Companies House: (i) this Certificate of Registration relates to the charge dated […………] submitted for registration and (ii) the charge lodged for registration is a certified copy of the original charge of which either a copy or redacted copy has been filed at Companies House (in accordance with s.859G of the Companies Act 2006).” 12.2 Removal of Security If the Client is a corporate entity and there is existing security registered against the Client at Companies House, you are required to apply to discharge these on completion and confirm the same to the Bank's solicitor. 12.3 Legal Representation on Redemption The Bank will be represented by its own solicitors on redemption. They will arrange for the transfer of title and discharge of the legal charge affecting the property and release of any debenture granted by the Client. Please note that the Client will need to appoint solicitors to represent them in respect of the redemption. The Bank’s solicitors will not be able to represent the Client jointly with the Bank during the redemption process. This is to avoid a potential conflict of interest, as they would be acting for both the buyer and seller of the title. Back to Contents

3. DIMINISHING MUSHARAKAH STRUCTURE AND ADVICE 3.1 How will the Bank's financing operate? The Bank’s Home Purchase Plans and Buy-To-Let Purchase Plans use the Diminishing Musharakah financing structure. Under this structure, legal title to the property is transferred to the Bank (from either the seller or the Client). The Bank then becomes the registered proprietor of the Property. Beneficially, the Property will be held in shares by both the Bank and the Client. It is for this reason that the Bank cannot agree to any requests for the beneficial interest to be held on trust for the benefit of anyone other than the Bank and Client in accordance with the Diminishing Musharakah Agreement. The Bank's Initial Share (as at the completion date) will be equal to the Bank's Contribution on completion divided by the Purchase Price (multiplied by 100). This is set out in the Offer Letter. The Bank will simultaneously grant a lease to the Client (for the finance term or 50 years depending on when your offer letter was issued). Under the lease, the Client pays Rent to the Bank each month. Promises to sell and purchase are also contained within the Diminishing Musharakah Agreement which ensures that the Bank is obliged to sell the Property to the Client and the Client is obliged to buy the Property from the Bank by the end of the finance term or early settlement and payment of all sums due. 3.2 Acquisition Payment Profile The Offer Letter notes the Acquisition Structure and Acquisition Payment Profile of each facility. This will be one of the following: a) Acquisition over Finance Term (amortising) The Client must pay Regular Acquisition Payments and Rent each month on the Payment Dates. The Regular Acquisition Payment is a payment towards the Purchase Cost (being the Bank's Contribution). The Rent is the amount calculated in accordance with the Lease (between the Bank and the Client). Each Regular Acquisition Payment causes the Client's Share of the Property to increase and the Bank's Share of the Property to decrease accordingly. b) Acquisition at end of Finance Term (bullet payment) The Client is only required to pay Rent on the Payment Dates. The Purchase Cost (being the Bank's Contribution) shall be payable in full on the Final Completion Date (as defined in the Diminishing Musharakah Agreement). The Client may make Additional Acquisition Payments which are extra payments towards the Purchase Cost as per the Diminishing Musharakah Agreement. Please refer to the Diminishing Musharakah Agreement to determine the restrictions on making such payments. 3.3 Ability to advise the Client on the Finance Documents You must be able to provide a legal advice letter in the form provided to you by the Bank's solicitors. If you are unable to do so, and you remain instructed to deal with the transaction, the Client is required to instruct separate solicitors to advise them on the finance documents and provide the legal advice letter to the Bank's solicitors. You must check the identity of the Client (and anyone else required to sign any deed or other document connected with the mortgage) by reference to the document and notify our solicitors of any discrepancies. 3.4 Legal Advice to the Client Advice to the Client does not need to be given in person however advice should at least be given over the phone. It is your responsibility to check the identity of the Client and ensure that you comply with the Money Laundering Regulations in force as at the date of instruction. You are required to provide the Bank's solicitors with Anti Money Laundering confirmations which are set out in initial correspondence to you. 3.5 Legal Advice to Interested Parties Other Than Guarantors (Donors, Occupiers or other.) For all buy-to-let finances, please refer to the terms and conditions for details as to the types of occupational tenancy agreements acceptable to the Bank. Occupiers (except non-named spouse or civil partner occupiers) For all owner-occupied home purchase plan cases, you must ensure that: All occupiers above 17 years of age (other than the Clients) sign an occupier’s consent form. The occupier’s consent form can be downloaded from the online Solicitors’ Guide and the original signed document must be received by the Bank’s solicitors before funds are requested. Donors (except non-named spouse or civil partner donors) Where any party (other than a Client or Guarantor) is making a financial contribution towards the purchase plan, you must ensure that: Each donor signs a waiver form. The waiver form will be provided by the Bank to the Donor for signing before the Offer is issued. You must also send to the Bank’s solicitors before funds are requested a clear and in-date K17 bankruptcy search against each Donor. Where the search reveals entries, the donor must sign a statement appended to the K18 result confirming none of the entries relate to them. Non-Named Spouse or Civil Partner Occupiers Where the finance offer is not in the joint names of persons who are in a legally sanctioned relationship (i.e., married, in a civil partnership), and the non-named person is going to reside at the property, you must ensure that party: Is provided with independent legal advice by a separate firm (see below). Signs an occupier’s consent form. The occupier’s consent form can be downloaded from the online Solicitors’ Guide and the original signed document must be received by the Bank’s solicitors before funds are requested. Non-Named Spouse or Civil Partner Donors Where the finance offer is not in the joint names of persons who are in a legally sanctioned relationship (i.e., married, in a civil union), and the non-named person is making a financial contribution towards the purchase plan, you must ensure that party: Is provided with independent legal advice by a separate firm (see below). Signs a consent and waiver. You can download the consent and waiver from the online Solicitors’ Guide. Please note the original signed consent and waiver must be received by the Bank’s solicitors before funds are requested. Signs the waiver form provided to the donor by the Bank. You must also send to the Bank’s solicitors before funds are requested a clear and in-date K17 bankruptcy search against each Donor. Where the search reveals entries, the donor must sign a statement appended to the K18 result confirming none of the entries relate to them. Independent Legal Advice for Spouses and Civil Partners Advice should be given face-to-face to ensure that the interested party was advised separately. If, in exceptional circumstances, this is not practical (e.g., where, in the local jurisdiction, legal advisors are not available or willing to act) advice should at least be given over video call or, if a video call is not possible, over the phone. It is the independent adviser's responsibility to check the identity of the interested party and ensure that they comply with the Money Laundering Regulations in force as at the date of instruction. You can download the form of Independent Legal Advice letter from the online Solicitors’ Guide and you must ensure the Bank’s solicitors are in receipt of all required letters of ILA before funds are requested. 3.6 Independent Legal Advice Letter for Guarantors Guarantors must be provided with independent legal advice. If there is more than one Guarantor (or other interested party), advice to each of the Guarantors must be provided separately. The Guarantors' independent adviser can issue one Independent Legal Advice letter covering the fact that they have separately advised each of the Guarantors on entry into both the consent and undertaking waiver letter and the guarantee. Another solicitor/licensed conveyancer in the same firm may be able to advise the Guarantor. 3.7 Subordination of Shareholder/Director Loans There is no requirement for subordination of any shareholder/director or other loans or advances to corporate customers. The Bank does not accept cases where there is an intercompany loan being made to the Customer to fund the Client's Contribution. 3.8 Joint Applicants Bare trust structure, joint borrower sole proprietor or similar arrangements are not acceptable for joint applicants. Back to Contents