From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

Back to previous page

Question: 5.8.1. Does the lender accept security which comprises a building converted into not more than four flats where the borrower occupies one of those flats and the borrower or another flat owner also owns the freehold of the building and the other flats are subject to long leases?

Lender Answer
Accord Buy to Let Yes, we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have separate leasehold title. Where the borrower also owns the freehold then our security should also include the freehold title. We will only lend on one flat in a building of this nature.
Accord Mortgages Ltd Yes we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title.
Adam & Company Yes
Adam & Company International Yes


Ahli United Bank (UK) plc Please refer to New Business/Underwriting - Residential Mortgage Department
Aldermore Bank PLC Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a report has not been provided, please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation.

You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
Allied Irish Bank (GB), a trading name of AIB Group (UK) Refer to AIB Group (UK) plc, Central Securities (GB)
Atom Bank plc No.
Aviva Equity Release UK Ltd Yes.
Bank of Ireland (UK) plc Yes, we require a first charge on the freehold if it is wholly owned by the borrower, even if the principal security is a leasehold title.
Bank of Ireland as Bank of Ireland Mortgages Yes. We require a charge on the freehold if it is wholly owned by the borrower, even if the principal security is a leasehold title.
Bank of Scotland Beginning A Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Bank of Scotland Beginning O Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical insepction report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Barclays Bank UK PLC Yes
Barnsley Building Soc, a trading name Yorkshire Building Soc Yes.We require our security to be the leasehold flat to be occupied by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title.
Birmingham Midshires Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Bluestone Mortgages Yes.
Bradford & Bingley Plc No
Britannia, a trading name of The Co-operative Bank plc Yes. The borrower must have a leasehold interest in the flat they are to occupy. If there is no lease please contact New Business Completions Britannia House Leek Staffordshire Moorlands ST13 5RG or New Business Completions DX 16351 Leek.
Buckinghamshire Building Society Yes provided the borrower has a leasehold interest in the flat that they are to occupy. If there is no lease please refer to:
Buckinghamshire Building Society, High Street,
Chalfont St Giles, Bucks,
HP8 4QB
e-mail mortgages@bucksbs.co.uk
Tel: 01494 879500
Fax: 01494 877259
Capital Home Loans Yes, providing all flats in the block are subject to long leases, including the flat the borrower is to occupy.
Chelsea Building Society (a trading name of Yorkshire BS) Yes, we require our security to be the leasehold flat to be occupied by the borrower and for that security to have a separate leasehold title. where the borrower also owns the freehold then our security should include the freehold title.
Clydesdale Bank plc Yes.
Co-operative Bank plc Yes. The borrower must have a leasehold interest in the flat they are to occupy. If there is no lease, please contact The Co-operative Bank New Lending, Britannia House, Leek, Staffordshire Moorlands ST13 5RG or The Co-operative Bank New Lending DX16351 LEEK.
Coutts Yes
Coutts Finance Co Yes
Coventry Building Society Yes.
Cynergy Bank No.
Darlington Building Society No
DB UK Bank Ltd Yes
Dudley Building Society Yes.
Earl Shilton Building Society Refer to Mortgage Dept at Head Office - Earl Shilton 01455 844 422
Ecology Building Society Yes
Family Building Soc (a trading name of National Counties BS) Yes.
Fleet Mortgages No
Foundation Home Loans Yes. If the valuer has not referred to the title arrangements in the valuation report you must report the arrangements to us so we can ensure the valuation is not affected. We require a first legal charge over our security and for that security to have a separate leasehold title that is UK Finance Lenders' Handbook compliant and meets our requirements. Where the Borrower also owns the freehold or a superior title, then we must also have a first legal charge over that freehold or superior leasehold title. Where the Borrower owns a share of the freehold or superior title with others, a suitable form of trust deed or other suitable arrangement must be entered into prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold/superior title and leasehold titles to be transferred simultaneously if the lender exercises its power of sale. Please report if the Borrower also owns any other flat in the building.
Furness Building Society Yes
GE Money Home Lending Ltd GE Money Home Lending has withdrawn from the UK mortgage market.
Godiva Mortgages Ltd Yes.
Habito Yes
Halifax Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property

Halifax Loans Ltd Yes, if the valuer has not referred to the title arrangements in the valuation report, or if a physical insepction report has not been carried out, you must report the arrangements to us so that we can ensure there are no adverse effects upon the valuation.
Hampden & Co. plc Yes
Handelsbanken Yes. We require a charge on the freehold if it is wholly owned by the borrower, even if the principal security is a leasehold title. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to the Branch office instructing you so that we can ensure that there are no adverse effects upon the valuation.
Harpenden Building Society Yes we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title.
Hinckley and Rugby Building Society Refer to Principal Office, Mortgage Department, Advances Section.
Hodge Equity Release Yes - Subject to the conveyancer confirming that each lease contains adequate covenants regarding maintenance of the building the flat is part of.
You should also bring to our attention any interest the borrower has in any other flats in the building
Hodge Life Yes - Subject to the conveyancer confirming that each lease contains adequate covenants regarding maintenance of the building the flat is part of.

You should also bring to our attention any interest the borrower has in any other flats in the building
Holmesdale Building Society See above.
HSBC UK Bank plc Yes
Intelligent Finance Yes
Investec Bank plc In certain circumstances but you will be required to ensure that the terms of the lease require the tenant of each flat to pay a satisfactory contribution towards repair, maintenance and insurance of the whole building. The terms of the lease should provide for the grant of and reserve all necessary rights and easements.

Please contact the member of Banking Legal or PBLO notified to you in the Transaction Instructions to discuss the circumstances and to seek approval.
ITL Mortgages Yes
JPMorgan Chase Bank, N.A. No.
Kensington Mortgage Company Ltd Yes. Please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
Kent Reliance (a trading name of OneSavings Bank plc) Yes subject to the freehold being charged to the Bank if the borrower is the freeholder or to completion of a stock transfer form in escrow where the borrower will be a shareholder in a company owning the freehold.
Keystone Property Finance Please refer to our instructions, or contact Completions Department
Landbay We will not lend on a property in which the applicant resides.
Landmark Mortgages Limited We have no objection to this kind of security. However, where the borrower owns the freehold we will require a charge over that title also.
Leeds Building Society Yes. We require the security to be over one leasehold flat and where the borrower also owns the freehold then our security should also include the freehold title.
Legal & General Home Finance Ltd Yes.
LendInvest No
Lloyds Bank plc pre fixed 20/40 Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Lloyds Bank plc pre fixed 50/30/77 Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
Lloyds TSB Scotland plc Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation

Please note we accept these for BTL with no requirements for borrower to occupy the property
M&S Bank No
Magellan Homeloans Yes we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title. If the valuer has not referred to the title arrangements in the valuation report, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation
Manchester Building Society Yes, provided the requirements of the Handbook are complied with.
Market Harborough Building Society Yes
Masthaven Bank No.
Metro Bank plc No.
Molo Finance Buy to Let Mortgages Yes, we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have separate leasehold title. Where the borrower also owns the freehold then our security should also include the freehold title. We will only lend on one flat in a building of this nature.
Monmouthshire Building Society Yes but you must report the arrangements to us so that we can ensure that there are no adverse effects on valuation.
Mortgage Agency Services Yes
Mortgage Express No
Mortgage Express No 2  
National Counties Building Society Yes.
National Westminster Bank plc Yes
Nationwide Building Society Yes
Nedbank Private Wealth Ltd You must refer to us.
New Street Mortgages Yes. Please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
NRAM Ltd We have no objection to this kind of security. However, where the borrower owns the freehold we will require a charge over that title also.
Paragon Buy to Let Mortgages Please see our Supplemental Instructions and Guidance Notes.
Paragon Residential Owner-Occupied Mortgages Yes, we require a first legal charge over the leasehold flat to be occupied by the Borrower and for that security to have a separate leasehold title that is UK Finance Lenders' Handbook compliant (and meets our requirements). Where the Borrower also owns the freehold or a superior title, then we must also have a first legal charge over that freehold or superior leasehold title. Where the Borrower owns a share of the freehold or superior title with others, a suitable form of trust deed or other suitable arrangement must be entered into prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold/superior title and leasehold titles to be transferred simultaneously if the lender exercises its power of sale. Please also report if the Borrower also owns any other flat in the building.
Paratus AMC Ltd Yes. If the valuer has not referred to the title arrangements in the valuation report you must report the arrangements to us so we can ensure the valuation is not affected. We require a first legal charge over our security and for that security to have a separate leasehold title that is UK Finance Lenders' Handbook compliant and meets our requirements. Where the Borrower also owns the freehold or a superior title, then we must also have a first legal charge over that freehold or superior leasehold title. Where the Borrower owns a share of the freehold or superior title with others, a suitable form of trust deed or other suitable arrangement must be entered into prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold/superior title and leasehold titles to be transferred simultaneously if the lender exercises its power of sale. Please report if the Borrower also owns any other flat in the building.
Parity Trust Refer to 1.7
Pepper Money Yes- subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding maintenance of the building of which the flats form part of. Any interest the borrower has in any other flats in the building should also be brought to our attention. If the borrower owns the freehold of the building we will also require a charge over that freehold title. If only a share of the freehold is owned by the borrower a suitable form of trust deed must be entered into on or prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold to be transferred simultaneously with the leasehold interest if a mortgagee exercises its power of sale.
Pepper Money (PUK) Yes- subject to the conveyancer or solicitor confirming that each lease contains adequate covenants regarding maintenance of the building of which the flats form part of. Any interest the borrower has in any other flats in the building should also be brought to our attention. If the borrower owns the freehold of the building we will also require a charge over that freehold title. If only a share of the freehold is owned by the borrower a suitable form of trust deed must be entered into on or prior to completion which contains provisions for the appropriate legal and beneficial interests in the freehold to be transferred simultaneously with the leasehold interest if a mortgagee exercises its power of sale.
Platform (a trading name of The Co-operative Bank p.l.c.) Yes.
Precise Mortgages (Charter Court Financial Services Ltd) Yes - If the valuer has not referred to the title arrangements in the valuation report, you must report the arrangements so we can ensure there is no adverse effect upon the valuation.
Principality Building Society Yes - Subject to the conveyancer confirming that each lease contains adequate covenants regarding maintenance of the building the flat is part of.

You should also bring to our attention any interest the borrower has in any other flats in the building.
Rooftop Mortgages Ltd No.
Saffron Building Society Yes.
Sainsbury's Bank No, with the exception of where the borrower occupies one of those flats and also owns the freehold.
Santander UK plc Yes.
Scottish Building Society No
Scottish Widows Bank Yes.
Secure Trust Bank PLC Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a report has not been provided, please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation.

You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent buildings.
Skipton Building Society Yes,provided that a suitable form of Trust Deed is entered into on or before completion which contains provisions for the appropriate legal and beneficial interests in the freehold to be transferred simultaneously with the leasehold interest if a mortgagee exercises its power of sale.
St James Place Bank Yes.
State Bank of India UK Yes. Provided there are separate long leases, including a lease for the flat the borrower is mortgaging.

If Borrower also owns the freehold we will require a charge over that title also.

You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building
Swansea Building Society No
Tesco Bank (a trading name of Tesco Personal Finance plc) Yes.
The Mortgage Business Yes. If the valuer has not referred to the title arrangements in the valuation report, or if a physical inspection report has not been carried out, you must report the arrangements to us so that we can ensure that there are no adverse effects upon the valuation.
The Mortgage Lender Limited No
The Mortgage Works Yes
The Royal Bank of Scotland plc Yes.
The Royal Bank of Scotland plc Direct Line Mortgages Yes.
The Royal Bank of Scotland plc Direct Line One Yes.
The Royal Bank of Scotland plc First Active Yes.
The Royal Bank of Scotland plc Natwest one Account Yes.
The Royal Bank of Scotland plc One Account Yes.
The Royal Bank of Scotland plc Virgin One Yes.
The Tipton & Coseley Building Society Yes.
Together Personal Finance Limited Yes.
Topaz Finance Ltd Yes.
TSB Bank plc Yes
Ulster Bank Ltd Yes.
Vida Homeloans Yes. Please report the arrangements to us so that we can ensure that there is no adverse effect upon the valuation. You should also bring to our attention any interest the borrower has in any of the other flats in the building or adjacent building.
Virgin Money We're happy to lend so long as all the titles owned/to be owned by the borrower are charged to us.
Whistletree (a trading name of TSB Bank plc) We have no objection to this kind of security. However, where the borrower owns the freehold we will require a charge over that title also
Yorkshire Bank Home Loans Ltd Yes.
Yorkshire Building Society Yes, we require our security to be the leasehold flat to be occupied by the borrower, and for that security to have a separate leasehold title. Where the borrower also owns the freehold then our security should include the freehold title.
Zephyr Mortgages Yes.