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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.

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Question: 16.3.1. Does the lender have a standard form of transfer/deed of covenant?

Lender Answer
Accord Buy to Let As to a standard form of transfer - no.
As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage.
We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request.
Accord Mortgages Ltd We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request.
As to a standard form of transfer - no.
As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage.
Adam & Company No, to be drafted by you and sent to us for approval.

Adam & Company International No, to be drafted by you and sent to us for approval.

Ahli United Bank (UK) plc No
Aldermore Bank PLC No.
Allied Irish Bank (GB), a trading name of AIB Group (UK) No
Atom Bank plc No. You must ensure that the Bank’s interest is sufficiently protected in the transfer, including the retention of any relevant entries on the title.
Aviva Equity Release UK Ltd No.
Bank of Ireland (UK) plc No.
Bank of Ireland as Bank of Ireland Mortgages No.
Bank of Scotland Beginning A Transfer of equity - NO
Deed of Covenant - YES (our form L1) request from Customer Service Centre PO Box 1HA, Newcastle Upon Tyne, NE99 1HA tel no. 0345 8500842 option 1.
Bank of Scotland Beginning O No
Barclays Bank UK PLC No. You must ensure that the Bank's interest is sufficiently protected in the transfer, including the retention of any relevant entries on the title
Barnsley Building Soc, a trading name Yorkshire Building Soc We will not be a party to any transfer deed, but where appropriate will issue a separate form of release on request. As to a standard form of transfer - no. As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage.
Birmingham Midshires Yes, copies are provided with our mortgage instructions. You may however engross your own if appropriate provided that it safeguards our interests.
Bluestone Mortgages No.
Bradford & Bingley Plc No. Covenant by new borrower(s) to be inserted in Form TR1 or AS1 as set out in paragraph 16.3.4.
Britannia, a trading name of The Co-operative Bank plc No
Buckinghamshire Building Society No
Capital Home Loans No
Chelsea Building Society (a trading name of Yorkshire BS) We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request.
As to a standard form of transfer - no.
As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage.
Clydesdale Bank plc No.
Co-operative Bank plc No
Coutts No, to be drafted by you and sent to us for approval.
Coutts Finance Co No, to be drafted by you and sent to us for approval.
Coventry Building Society No
Cynergy Bank No.
Darlington Building Society No.
DB UK Bank Ltd No
Dudley Building Society No
Earl Shilton Building Society No
Ecology Building Society No
Family Building Soc (a trading name of National Counties BS) No.
Fleet Mortgages No. The terms of our mortgage advances do not allow for transfers of equity.
Foundation Home Loans No. We require you to draft an appropriate form of transfer/deed of covenant as may be necessary. You must ensure that our interest is sufficiently protected.
Furness Building Society No
GE Money Home Lending Ltd No
Godiva Mortgages Ltd No.
Habito No. You must ensure that our interest is sufficiently protected in the transfer, including the retention of any relevant entries on the title
Halifax Transfer of equity - no. Deed of covenant - yes (our form L1), request from Customer Service Centre.
Halifax Loans Ltd Transfer of equity - no
Deed of covenant - yes(our formL1), request from Halifax Loans Limited, Trinity Road, Halifax, HX1 2RG
Hampden & Co. plc No. To be drafted by you and sent to us for approval.
Handelsbanken No.
Harpenden Building Society No
Hinckley and Rugby Building Society No.
Hodge Equity Release No, to be drafted by you and sent to us for approval
Hodge Life No, to be drafted by you and sent to us for approval
Holmesdale Building Society No.
HSBC UK Bank plc No
Intelligent Finance Transfer of equity - No.
Deed of covenant - Yes, L1(EW)(IF), request from Securities, Intelligent Finance, PO Box 890, Leeds, LS1 9UG
Investec Bank plc No, you must ensure that the Bank's interest is sufficiently protected in the transfer, including the retention of relevant entries on the title.
ITL Mortgages No
JPMorgan Chase Bank, N.A. No.
Kensington Mortgage Company Ltd No.
Kent Reliance (a trading name of OneSavings Bank plc) No
Keystone Property Finance No
Landbay No. We currently do not support applications for transfers of equity and /or title
Landmark Mortgages Limited No, but we can provide a set of guidance notes. Our prior consent is required.
Leeds Building Society No.
Legal & General Home Finance Ltd No.
LendInvest No. To be drafted and sent to us for approval in each case.
Lloyds Bank plc pre fixed 20/40 Transfer of equity – no. Deed of covenant – yes (our form L1), request from Customer Service Centre.
Lloyds Bank plc pre fixed 50/30/77 Not applicable.
Lloyds TSB Scotland plc Not applicable.
M&S Bank no
Magellan Homeloans No
Manchester Building Society No.
Market Harborough Building Society No
Masthaven Bank No.
Metro Bank plc No.
Molo Finance Buy to Let Mortgages No.
Monmouthshire Building Society Transfer of Equity - N/A Transfers of Equity are dealt with by redeeming original mortgage and a new regulated mortgage taken out.
Deed of Covenant - Yes
Mortgage Agency Services Yes
Mortgage Express No. Covenant by new Borrower(s) to be inserted in Form TR1 or AS1 as set out in paragraph 16.3.4.
Mortgage Express No 2 No. A Covenant by new Borrower(s) to be inserted in Form TR1 or AS1 as set out in paragraph 16.3.4
National Counties Building Society No.
National Westminster Bank plc No. We require a reconstitution of the security in Transfer of Equity cases.
Nationwide Building Society No
Nedbank Private Wealth Ltd We do no have any standard forms of transfer of equity or deeds of covenant.
New Street Mortgages No, to be drafted by you and sent to us for approval
NRAM Ltd No, but we can provide a set of guidance notes. Our prior consent is required.
Paragon Buy to Let Mortgages No
Paragon Residential Owner-Occupied Mortgages No.
Paratus AMC Ltd No. We require you to draft an appropriate form of transfer/deed of covenant as may be necessary. You must ensure that our interest is sufficiently protected.
Parity Trust No
Pepper Money No
Pepper Money (PUK) No
Platform (a trading name of The Co-operative Bank p.l.c.) No.
Precise Mortgages (Charter Court Financial Services Ltd) No.
Principality Building Society No
Rooftop Mortgages Ltd No.
Saffron Building Society No
Sainsbury's Bank We do not have a specific form of transfer. However, a covenant by any new borrower(s) sufficient to protect the bank’s interest should be inserted as per 16.3.4. Our prior consent is also required.
Santander UK plc No, but we have required wording - refer to the Mortgage Operations office instructing you.
Scottish Building Society No
Scottish Widows Bank No - However we require a fresh Legal Charge to be granted by the new Borrower(s)
Secure Trust Bank PLC No.
Skipton Building Society No.
St James Place Bank Transfer of equirt - No
Deed of covenant - Yes, L1(EW)(SJPB), request from Mortgage Administration, St James'Place Bank, Administration Centre, PO Box 1869, Livingston EH54 7XS
State Bank of India UK No.
Swansea Building Society No
Tesco Bank (a trading name of Tesco Personal Finance plc) We do not have a specific form of transfer. However a covenant by any new borrower(s) sufficient to protect the bank’s interest should be inserted as per 16.3.4. Our prior consent is also required
The Mortgage Business No
The Mortgage Lender Limited No, to be drafted by you and sent to us for approval.
The Mortgage Works No
The Royal Bank of Scotland plc No. We require a reconstitution of the security in Transfer of Equity cases.
The Royal Bank of Scotland plc Direct Line Mortgages No. We require a reconstitution of the security in Transfer of Equity cases
The Royal Bank of Scotland plc Direct Line One No. We require a reconstitution of the security in Transfer of Equity cases
The Royal Bank of Scotland plc First Active For mortgage accounts that begin with the number 6 - No. We require a reconstitution of the security in Transfer of Equity cases.

For mortgage accounts that begin with VIR or number 1 - No. We require a reconstitution of the security in Transfer of Equity cases.
The Royal Bank of Scotland plc Natwest one Account No. We require a reconstitution of the security in Transfer of Equity cases.
The Royal Bank of Scotland plc One Account No. We require a reconstitution of the security in Transfer of Equity cases.
The Royal Bank of Scotland plc Virgin One No. We require a reconstitution of the security in Transfer of Equity cases.
The Tipton & Coseley Building Society No, please submit draft for approval.
Together Personal Finance Limited No.
Topaz Finance Ltd No.
TSB Bank plc Not applicable.
Ulster Bank Ltd No, but we do have standard wording for the relevant section of Land Registry Form TR1.
Vida Homeloans No
Virgin Money No, but we'll provide you with our instructions. Our consent to the transfer will be required.
Whistletree (a trading name of TSB Bank plc) No, but we can provide a set of guidance notes. Our prior consent is required.
Yorkshire Bank Home Loans Ltd No.
Yorkshire Building Society We will not be a party to any transfer deed, but where appropriate, will issue a separate form of release on request.
As to a standard form of transfer - no.
As to a standard deed of covenant - yes, for use where there is a change in the parties to the mortgage.
Zephyr Mortgages No.