1.1 The Bridgewater Equity Release Flexible Release Plan is offered by the following companies controlled by Grainger plc:
|
|
- Madison Lester
- 7 years ago
- Views:
Transcription
1 Bridgewater Equity Release Limited Flexible Release Plan Terms and Conditions 4 th Edition 1 Introduction 1.1 The Bridgewater Equity Release Flexible Release Plan is offered by the following companies controlled by Grainger plc: Bridgewater Equity Release Limited; Bridgewater Equity Release Nominees (No 1) Limited and Bridgewater Equity Release Nominees (No 2) Limited (the Landlords named in the Lease and the Trustees named in the Declaration of Trust) 1.2 These terms and conditions apply to your plan and should be read together with the following Documents: the Lease, the Conditions, the Declaration of Trust, the Home Reversion Plan Offer and any other documents appropriate to the plan. 1.3 Throughout these Conditions we use a number of technical words and other expressions which we have highlighted in italics. We have explained the meaning of these words and expressions in section 17 at the end of these Conditions. 2 The basis of the plan 2.1 How the plan works can be summarised as follows: i. We will buy a share of your property. ii. iii. iv. You will transfer your legal ownership of the property to us. In exchange, we will make the cash payment to you and we will grant to you a Lease of the property. As long as you follow the terms of the Lease, you will have the right to live in the property, rent-free, for the rest of your life. You and we will sign the Declaration of Trust to describe the terms on which we will own the property and to protect both your share of the net sale proceeds and our share of the net sale proceeds. The percentage share which we will each own or hold will be stated in the Declaration of Trust. v. When you die, or if you leave the property permanently, we will sell the property. We will pay your share of the net sale proceeds to you or your estate and we will be entitled to our share of the net sale proceeds. 2.2 Shortly after you apply for the plan we will arrange for an independent valuation to be carried out on your property and a report will be produced. A copy of the report will be made available to you. A valuation fee will be payable by you to us, details of this are available upon request. 2.3 We may hold a retention until we receive satisfactory confirmation that any remedial works identified in the valuation report have been carried out. This, together with the works required to be carried out on your property will be stipulated in writing in any subsequent Home Reversion Plan Offer we make to you. 1
2 2.4 Where asbestos is identified we will hold a retention until this has been removed by you and we are in receipt of a Consignment Note to that effect. 2.5 Where we have held a retention, we will give a period of up to 3 months from the completion date (or such longer period as we, acting reasonably agree), for any stipulated remedial works to be carried out. You should advise us if you require longer. If you do not carry out the work required we will be entitled to do so and will apply the retention to the cost of the works. If the cost of the works are less than the retention the difference will be refunded to you. If the cost of the works are more than the retention we shall be entitled to recover the cost of this from you on demand together with any associated costs of recovery action in connection with this. Or we shall deduct such costs from your share of the net sale proceeds together with a rate of interest equal to the prevailing Bank of England base rate plus 3% per year before releasing any sum to you or your estate. We emphasise that this is only a summary of how the plan works. You must not read it in isolation, but must see it as only a part of the Documents. 3 Our promise to you 3.1 For as long as you keep to your obligations set out in the Documents we will not seek to interfere with or disturb your use and enjoyment of the property. 3.2 We will endeavour to act fairly and in a reasonable manner towards you. We encourage you to tell us whenever you feel we have not done so. 3.3 In respect of your obligations to repair and maintain the property set out in these Conditions, we do not expect you or your Personal Representatives to maintain the property to a state which exceeds the state the property is in when the plan commences. 4 Things you must do during the plan term 4.1 You must use the property as your only or main residence. We will decide whether the property is your main residence based on factors including where you live for the majority of the time, where you are registered to vote and where the majority of your belongings are kept. 4.2 You must pay punctually any rent, service charges, utilities, outgoings and taxes payable for the property until we have vacant possession and the Lease is surrendered. 4.3 Subject to section 3.3, you must maintain the property in good repair and condition. 4.4 You must maintain the interior decor and exterior of the property to a clean and tidy standard, including its redecoration as often as reasonably necessary. 4.5 You must keep the property insured in the joint names of you and Bridgewater Equity Release Limited against loss or damage by fire and such other risks as is usual for residential property. The sum insured must be sufficient to restore the property to its present condition and it must be index-linked. 4.6 We reserve the right to refuse your choice of insurance provider where we have legitimate concerns such as, but not limited to, the provider s financial capability. Where we have such concerns we will inform you. 2
3 4.7 You must not do anything to invalidate the insurance. If you receive any payment from the insurance company as a result of a claim being made under the terms of the insurance policy, you must apply that money to repair the damage for which the claim was made. 4.8 Where you do not maintain adequate insurance of the property, we may make our own arrangements to do so. We shall be entitled to recover the cost of this insurance, together with an annual administration charge, from you or your estate on demand or from the share of the net sale proceeds due to you or your estate. Please see our latest Tariff of Charges for details of these costs. 4.9 You must send us a completed Certificate of Occupation and a copy of your home insurance schedule following request by us. We will write to you each year about this You must comply with all Town and Country Planning requirements and other legislation affecting the property You must tell us if you receive any notice relating to Town and Country Planning matters. If the notice reasonably requires you to do anything you must do it. If we, acting reasonably, require you to join with us in objecting to or contesting the notice, you should do so You must observe and perform all (if any) matters mentioned and referred to in any of the following: i. the Lease; ii. iii. the Register relating to the property kept at the Land Registry ( the Register ); any other document referred to in the Register If you wish to do anything which needs our consent, you must pay our reasonable costs for considering and administering your request, even if we refuse to give consent. We will always give our reasons for any refusal. Please see our latest Tariff of Charges which lists the costs and fees that may be payable by you to us during the lifetime of the plan Where a Personal Representative is appointed to handle your affairs, we must be notified of this in writing, and supplied with appropriate documentation confirming this. 5 Things you must not do during the plan term 5.1 You must not allow anyone else to move into the property without our written consent, as described in section You must not charge, assign, underlet, part with possession of the whole or any part of the property, hold the property on trust for any other person or enter into any agreement to do so without our written consent. We will give our consent only in the circumstances described in sections 8, 9 or You must not alter the property in any way without our consent. 3
4 5.4. You must not abandon the property as we would regard this as a default. If you intend to leave the property for a continuous period of 6 calendar months or more you or your Personal Representatives must notify us. Where we are in agreement to this, you must provide us with a forwarding address. If you or your Personal Representatives do leave the property for a period of time in excess of this without seeking our consent, we may regard you as having abandoned the property. 6 Selling the property 6.1 We will not sell the property before a trigger event or default happens unless you ask us in writing to do so. 6.2 We will be entitled to sell the property when either a trigger event, or default occurs. Where a trigger event occurs we will give a period of 8 weeks from the date of the trigger event for the property to be cleared. You or your Personal Representatives must notify us if you require longer. Any extension to this will be at our discretion acting reasonably. 6.3 Where a default occurs, you will be served with a formal written request from us to you giving you notice to leave the property, during which time the property must be cleared. Where you do not leave, we will seek a court order to take possession of the property. 6.4 Once the property has been cleared you or your Personal Representatives must forward the keys to us at the following address: Bridgewater Equity Release Limited, Retirement Solutions Dep t, Citygate, St. James Boulevard, Newcastle upon Tyne, NE1 4JE. 6.5 We will commence the sale of the property once we receive the keys. 6.6 When selling the property as described in this section we will do the following: i. We will establish the open market value. ii. Subject to section 3.3, if we, acting reasonably, believe it is necessary to carry out repairs or other works to the property before it is sold, we shall arrange for those repairs or other works to be carried out. We shall be entitled to reclaim the costs of those repairs, together with an administration fee, from you or your estate on demand. Please see our latest Tariff of Charges for details of these costs. Alternatively we may deduct the cost of those repairs from the share of the net sale proceeds due to you or your estate. iii. We will appoint a selling agent to advertise the property for sale with a view to finding a purchaser willing to purchase the property for the open market value or such lesser sum as would be reasonable for us to accept. Should you or your Personal Representatives wish to appoint a particular selling agent, we will consider such a request. Where we refuse such a request, we will tell you why. iv. When we have received an offer to purchase the property for a price which we, acting reasonably, believe to be the best price obtainable, we will instruct solicitors to deal with the sale. v. We will notify you or your Personal Representatives when a sale is agreed. vi. On or immediately after the sale date we will arrange for your share of the net proceeds (after deducting any amounts to which we are entitled under this agreement), to be paid to you or to your estate or to any solicitor nominated by you or your estate. 4
5 6.7 Where we are required to remove any remaining contents from the property because you or your estate have not cleared the property, we may make a charge for this. Please see our latest Tariff of Charges for further details. 6.8 We will take all reasonable steps to ensure that the property is sold within a reasonable period of time. In doing this we may delay the sale for any legitimate reason where we reasonably consider the selling price can be optimised by such a delay. Such legitimate reasons include but are not limited to market conditions, remedy of any title defects or defects in the condition of the property. 7 Long term care 7.1 If you intend to move out of the property because you need long term care you or your Personal Representatives must notify us in writing. 7.2 Where your plan is held in joint names and one of you moves into long term care, the plan will continue as normal for the remaining party named on it. 7.3 Where the remaining or sole occupier leaves the property to move permanently into long term care, we must be sent the keys as stated in section Transfer of the plan to a new home 8.1 If you wish to move to a new home and transfer the plan, you must tell us in writing. A fee would be payable by you to us to make this change. Please see our latest Tariff of Charges for details of these costs. You will need to complete an application form to transfer the plan to a new home. We recommend you take financial advice as to the effects of doing this. 8.2 Any new home must meet the property suitability criteria applicable at that time. 8.3 The purchase of any new home and sale of your current property must take place at the same time. 8.4 We will appoint an independent valuer to give his opinion of the open market value of your potential new home and to tell us whether it is suitable for the plan. A valuation fee will be payable by you to us, details of this are available upon request. 8.5 If the purchase price of the new home is greater than the gross sale proceeds of the original property, you must provide the difference between these two prices from your own resources. The percentage ownership may need to be adjusted accordingly. 8.6 If the purchase price of the new home is lower than the gross sale proceeds of the original property, the difference, subject to sections 8.7(i) and 8.11, shall be divided between you and us in the agreed proportions. 8.7 We will sell the original property as follows: i. Subject to section 3.3, if we, acting reasonably, believe it is necessary to carry out repairs or other works to the original property before it is sold, we shall be entitled to arrange for those repairs or other works to be carried out. You must meet the costs of such repairs or other works. We shall be entitled to reclaim the costs of those repairs, together with an administration fee, from you on demand. Please see our latest Tariff of Charges for details of these costs. 5
6 Alternatively we may deduct the cost of those repairs from any share of the net sale proceeds due to you. ii. We will appoint a selling agent (whom you may nominate acting reasonably) to advertise the original property for sale with a view to finding a purchaser willing to purchase the original property for the open market value or such lesser sum as would be reasonable for us to accept. iii. When we have received an offer to purchase the original property for a price which we, acting reasonably, believe to be the best price obtainable, we will instruct solicitors to deal with the sale. 8.8 You must appoint solicitors to act for you. 8.9 You will surrender the Lease of the original property We will buy the new home and we will give to you a Lease of the new home in substantially the same form as the Lease of the original property You must pay all costs and disbursements relating to the sale of the original property and the purchase of the new home from your own resources, including our solicitor s costs, your own solicitor s costs, any costs resulting from you taking financial advice, any selling agent s fees and the stamp duty land tax (if any) both in relation to the purchase of the new home by us and in relation to the Lease of the new home You and we must sign a new Declaration of Trust. 9 If someone moves out of the property 9.1 If there are two of you named on the plan and you wish to change the Lease and transfer your share to only one of you, because the other no longer lives at the property, you must ask for our consent. A fee would be payable by you to us to make this change. Please see our latest Tariff of Charges for details of these costs. All parties will need to complete and sign an application form for this. We recommend you both take financial advice as to the effects of doing this. 9.2 Provided you are not in default, we may, acting reasonably, consent to the transfer and we may release whichever of you is leaving from your obligations to us. Once we receive your application we will give full consideration to the transfer. We may need to satisfy ourselves that the party to remain on the plan can maintain the property financially on their own. 9.3 On completion of the transfer, the Documents will remain in force for the remaining life tenant. 9.4 The remaining life tenant will be required to sign the new Documents necessary to put this arrangement in place. You will both require separate independent legal representation in the process of transferring your interest in the property from joint names to a sole name. You will be responsible for paying your and our solicitors costs and disbursements and any costs resulting from you taking financial advice. 9.5 The remaining life tenant may be eligible to apply for a further cash payment and section 12 will apply. 9.6 If you have someone living with you who is not a life tenant, you must tell us if they move out permanently. 6
7 10 If someone moves into the property 10.1 If you are the only life tenant of the property but would like another person to become a joint life tenant, you must ask for our consent. A fee would be payable by you to us to make this change. Please see our latest Tariff of Charges for details of these costs. We recommend you both take financial advice as to the effects of doing this Provided you are not in default, we will consent to the transfer providing: i. We are satisfied you have taken legal advice as to the effects of making the transfer ii. You were both aged 65 or over at the date the original Home Reversion Plan Offer signed by us. iii. You will both live at the property 10.3 If we consent to the transfer you will have to repay to us part of the cash payment and/or we may modify the agreed proportions to reflect the amount that would have been paid for a joint life tenancy. You and we must sign a new Declaration of Trust to reflect the changes made to the plan You will both be required to complete and sign an application form for this and sign the necessary Documents to put this arrangement in place You will require independent legal representation and will be responsible for any legal costs incurred by you and us and any costs resulting from you taking financial advice If you would like someone to move into the property but not become a joint life tenant, you must ask for our consent. A fee would be payable by you to us for this. Please see our latest Tariff of Charges for details of these costs. Where you are not in default we will consent to this provided: i. You do not create a Lease or tenancy with the new occupant; and ii. The new occupant must sign a deed to acknowledge the priority of our interest in the property. 11 Our Inspections of the property 11.1 We or our nominated representatives may carry out an inspection of the property (including the interior) once every 3 years following the initial completion date. We will produce a report for our purposes and offer to provide you with a copy We will contact you to arrange to visit you to carry out the inspection at a mutually convenient time You must permit us or our nominated representatives to inspect the property If the inspection identifies that the property requires essential work, we will send you a copy of the report. You must ensure that this work is carried out within 3 months from the date of the report (or such longer period as we, acting reasonably, agree) and is completed to our satisfaction. 7
8 11.5 Subject to section 3.3, if you do not carry out the work and we pay for the work to be completed before we sell the property, we will be entitled to recover the cost of repairs, together with an administration fee, from you on demand or shall deduct such cost from your share of the net sale proceeds before releasing any sum to you or your estate. Please see our latest Tariff of Charges for details of these costs We or our nominated representatives may from time to time carry out a sample review of all the properties we own or own a share of. This is done for our accounting and auditing purposes. Your property may be selected in this sample. Typically this involves an external only viewing and possible photographing of the property by our nominated representative who should act responsibly so that your privacy and enjoyment of the property is not affected. 12 Further cash payments 12.1 If you wish to sell a further share of your interest in the property to us during the plan term, we will guarantee to buy such a further share from you provided you are not in default. You must complete an application form and must also pay for a revaluation of the property, details of these fees are available upon request We will issue a new Home Reversion Plan Offer and you and we will need to sign a new Declaration of Trust to reflect this. We recommend you take financial and legal advice as to the effects of doing this. You will be responsible for any costs you incur from taking such advice When we agree to make further cash payments, we will apply the rules applicable to a new plan at that time. These will cover such things as the minimum and maximum amounts we are willing to release. These may be different from the rules which applied to previous cash payments. 13 Standard terms 13.1 Information supplied by you: i. We will prepare the Home Reversion Plan Offer on the basis of the information you give to us on the application form. ii. iii. Any mortgage and/or secured loan on the property must be repaid on or before the completion date. If we discover that you have given fraudulent or deliberately misleading information, we will regard this as a default, which will entitle us to require you to buy back the property for the open market value at that time. We will do this if the correct information would have led us to refuse your application for the plan Joint Life Tenants If there are two of you, your obligations to us are joint and several. Joint and several is a legal term. It means two things: first it means that both of you are responsible for all those obligations; secondly it means that each of you separately is responsible for all those obligations. 8
9 14 Ending the plan early 14.1 Where you wish to end the plan early by selling the property, you must notify us. Please see section 6 for details of how we will sell the property. Alternatively you may wish to end the plan early and buy the property back from us. Again you must notify us. To buy the property back you and we together must agree the open market value of the property at that time. This is how we will reach agreement: i ii. You will appoint one valuer to value the property (at your expense) and we will appoint another (at our expense). The average of those two valuations will be the open market value of the property. If you or we do not agree with this open market value or we cannot reach agreement with you, either you or we will instruct the President for the time being of RICS to appoint a valuer to act as an arbitrator to decide the open market value of the property. The decision of that arbitrator shall be final and the payment of costs shall be determined by the award made If you choose to buy back, you must pay to us an amount equal to our share of the open market value of the property (determined as outlined in section14.1) and we will transfer our legal ownership of the property to you You cannot buy back only part of our share of the open market value of the property Where you are in default, for example where you abandon the property, we will also be entitled to commence sale proceedings You will be responsible for the payment of our reasonable costs and expenses if you end the plan early as described in sections 14.1 and 14.2, including our solicitors costs and disbursements together with any payments to which we are entitled under sections 2.5, 4.8, 6.6(ii) or Our Rights We or any of us may sell or transfer our rights and interest under the Home Reversion Plan Offer and these Conditions to another company. If we do so your rights and obligations will be unaffected. That company will have the same rights and obligations as we have. 16 Governing law The Documents shall be governed by the laws of England and Wales. 9
10 17 Meanings of Expressions used in these Conditions agreed proportions Bridgewater Equity Release Limited cash payment Certificate of Occupation cleared completion date Conditions Consignment Note Declaration of Trust default The proportions in which the net sale proceeds will be divided between you and us, when we sell the property as described in section 6. The amounts of the agreed proportions are set out in the Declaration of Trust. Bridgewater Equity Release Limited (Company Registration No ) whose Registered Office is at Citygate, St. James Boulevard, Newcastle upon Tyne, NE1 4JE. Registered in England. The amount shown in the Home Reversion Plan Offer, which we agree to release to you on the completion date. The form we will send to you every year to ask you to confirm that you are still living at the property and that you are continuing to observe and perform all your obligations under the terms of these Conditions and the Lease. The removal of all your possessions from the property and any outbuildings. The keys to the property must be sent to the address set out in section 6.4. The date we release a cash payment to you. The terms and conditions relating to your plan and contained in this document. A document used to track the movements of, and ensure safe disposal of hazardous wastes such as but not limited to asbestos. The most recently completed document which sets out the terms upon which we shall hold the net sale proceeds in the agreed proportions. i. If you do not do anything which you have agreed to do under the Home Reversion Plan Offer, these Conditions or in the Lease; ii. If you do anything which you have agreed not to do under the Home Reversion Plan Offer, these Conditions or in the Lease. 10
11 Documents gross sale proceeds Home Reversion Plan Offer inspection landlords Lease life tenant long term care "net sale proceeds new home nominated representatives open market value The Lease, the Conditions, the Declaration of Trust and the Home Reversion Plan Offer. The price for which the property is sold on the open market under the provisions of any of sections 6 or 8, prior to deducting solicitors costs and disbursements, selling agent s fees (including fees charged for the management of the property pending sale) and any other expense reasonably incurred in the sale of the property. The letter given to you on behalf of us offering to buy a share of the property for the cash payment and the grant of the Lease and incorporating these Conditions. An inspection carried out on the property generally every 3 years to ensure the property is being adequately looked after internally and externally. The Landlords named in the Lease. It also includes their successors and any other company as stated in 15. The Lease is the agreement between you and us giving you the right to live in the property. The expression also means any subsequent replacement Lease we may give you, as described in section 8. Any person or persons named in the Lease as life tenants. Where you move out of your property permanently because you have become ill and/or suffer a disability, and require permanent care from another person or persons. The price for which the property is sold on the open market under the provisions of any of sections 6 or 8, after deducting solicitors costs and disbursements, selling agent s fees (including fees charged for the management of the property pending sale) and any other expense reasonably incurred in the sale of the property. The home you may move to subject to the provisions of section 8. A third party firm or organisation we ask to carry out the inspection on our behalf. The value of the property if it were to be offered for sale on the open market with vacant possession. 11
12 our share Personal Representatives plan plan term property property suitability criteria retention RICS sale date selling agent Tariff of Charges The share of the property which you have sold to us. This is expressed as a percentage and is set out in the Home Reversion Plan Offer and Declaration of Trust. Those whom are appointed to handle your affairs. The Bridgewater Equity Release Flexible Release Plan, the terms of which are contained in the Documents. The period of time between the completion date and the date on which the last of the payments due to you or your estate is made. Your home including any outbuildings described in the Home Reversion Plan Offer or, if you move (subject to section 8), your new home. The features of the property which enables us to decide at any time whether that property is suitable for a plan. We will provide a copy of the current property suitability criteria to you at any time you ask. A sum of money retained by us from the cash payment due to you on or shortly after the completion date. It is in respect of works we require to be undertaken on your property. The Royal Institution of Chartered Surveyors, a professional body that is able to adjudicate on valuation disputes. The date on which completion of the sale of the property takes place. The agent we instruct to co-ordinate the sale of the property. The leaflet we publish from time to time which sets out the costs and fees that may be payable during the lifetime of your plan. A copy is also available on our website: transfer The transfer of rights and obligations under these Conditions to or from a party or to another property. 12
13 trigger event a. If you are the only life tenant: i. when you die or (if earlier); ii. when you leave the property permanently because you need long term care; b. If you are joint life tenants: i. when you both have died; or ii. iii. when both of you leave (or the survivor of you leaves) the property permanently because you need long term care; or when one of you has left the property permanently because you need long term care and the other dies; whichever event occurs first. vacant possession valuer we, us and our you your estate your share of the net sale proceeds When we are in possession of the keys, the property is empty and no person is occupying the property. Any person who is a Fellow or a Member of RICS and who provides (or has provided) you or us with an independent opinion of the open market value of the property. The Landlords and/or Bridgewater Equity Release Limited as appropriate. It also includes our successors and any other company as stated in section 15. The customer or customers named in the Home Reversion Plan Offer, and described as the life tenant(s) in the Lease and the Declaration of Trust. The legal personal representatives appointed to administer your assets and liabilities after you have died. The share of the net sale proceeds to which you are entitled when the property is sold. This is expressed as a percentage and is set out in the Declaration of Trust. Flexible Release Plan Terms & Conditions 4 th Edition Printed December
Lump Sum Lifetime Mortgage Terms and Conditions. Version 1
Lump Sum Lifetime Mortgage Terms and Conditions Version 1 INTRODUCTION Thank you for choosing Hodge Lifetime. We hope that your lifetime mortgage makes a positive difference during your retirement. This
More informationAll you need to know about the. Seniors Money Lifetime Loan. Information for you, your family and your advisers
All you need to know about the Seniors Money Lifetime Loan Information for you, your family and your advisers 1 Contents This brochure from Ireland s only specialist Lifetime Mortgage provider highlights
More informationOur Home Reversion Plan. Enjoy your retirement by unlocking the value of your home
Our Home Reversion Plan Enjoy your retirement by unlocking the value of your home I can now have the garden I ve always wanted. 1 Bridgewater Equity Release Limited the Home Reversion Plan experts Bridgewater
More informationGeneral Mortgage Conditions for England and Wales
You can order all our publications in large print, Braille, audio cassette or CD. Your local branch will arrange this for you or you can contact us on 08457 30 20 10. If you have hearing or speech difficulties
More informationSeniors Money Ireland Limited t/a Seniors Money 60plus Loan Seniors Money is a joint venture company equally owned by IFG Group plc and Sentinel
Seniors Money Ireland Limited, Beech House, Beech Hill Office Park, Clonskeagh, Dublin 4. LoCall 1890 73 64 67 (1890 SENIOR) or email info@seniorsmoney.ie www.seniorsmoney.ie Seniors Money Ireland Limited
More informationVersion 0.1 Adult Social Care Deferred Payment Policy Issued: April 2015
Adult Social Care Deferred Payment Policy 1 Introduction 1.1 This Policy details how Deferred Payment Agreements (DPAs) are to be operated by Rochdale Council from April 2015. 1.2 When a person enters
More informationStandard Charge Terms Land Registration Reform Act
Page 1 of 32 Standard Charge Terms Land Registration Reform Act Filed By: Canadian Imperial Bank of Commerce Filing Number: 201610 Filing Date: March 29, 2016 The following set of standard charge terms
More informationHOME OWNERSHIP THE REAL COSTS
HOME OWNERSHIP THE REAL COSTS THE GOVERNMENT REQUIRES US TO PROVIDE YOU WITH THIS INFORMATION PURSUANT TO SECTION 121AA HOUSING ACT 1985 If you just compare the cost of a mortgage with the cost of your
More informationLIFETIME MORTGAGE LUMP SUM
LIFETIME MORTGAGE LUMP SUM Terms and Conditions (version 5) This is an important document. Please keep it in a safe place. LV= Lifetime Mortgage lump sum Terms and Conditions Welcome to LV=, and thank
More informationKEY MORTGAGE INFORMATION & EXPLANATIONS
KEY MORTGAGE INFORMATION & EXPLANATIONS THE SOCIETY Within this document reference to we us and our refers to the Society, full details of which are: Tipton & Coseley Building Society, 70 Owen Street,
More informationResidential mortgages general information
Residential mortgages general information Residential mortgages general information 2 Contents Who we are and what we do 2 Forms of security 2 Representative Example 2 Indication of possible further costs
More informationLIFETIME MORTGAGE LUMP SUM
LIFETIME MORTGAGE LUMP SUM Terms and Conditions (version 4) This is an important document. Please keep it in a safe place. LV= Lifetime Mortgage lump sum Terms and Conditions Welcome to LV=, and thank
More informationINFORMATION ABOUT YOUR MORTGAGE. Important information for you to keep and refer to
INFORMATION ABOUT YOUR MORTGAGE Important information for you to keep and refer to 1 Information about your mortgage This booklet is sent to you with your mortgage offer so you can read it before you enter
More informationNAB Equity Lending. Facility Terms
NAB Equity Lending Facility Terms This document contains important information regarding the terms and conditions which will apply to your NAB Equity Lending Facility. You should read this document carefully
More informationGeneral Mortgage Conditions
General Mortgage Conditions 2015 (England and Wales) 0800 298 5714 precisemortgages-customers.co.uk Contents Condition Number Page Number Part 1: Understanding These Conditions 4 1 Definitions 4 Part 2:
More informationTHE LAND TITLES ACT, 2000
THE LAND TITLES ACT, 2000 ROYAL BANK OF CANADA SASKATCHEWAN COLLATERAL MORTGAGE (PRIME RATE) TABLE OF CONTENTS SECTION 1 AMOUNTS SECURED BY THE MORTGAGE AND INTEREST RATE... 2 SECTION 2 TERMS YOU NEED
More informationStandard Mortgage Terms
Page 1 of 45 Standard Mortgage Terms Filed By: Canadian Imperial Bank of Commerce Filing Number: MT160006 Filing Date: March 17, 2016 The following set of standard mortgage terms shall be deemed to be
More informationMortgage Conditions and Explanations
Mortgage Conditions and Explanations 1 Mortgage Conditions and Explanations Bath Building Society ( the Society ) The paragraphs headed Introduction and Membership Rights below are included purely for
More informationFlexible Lifetime Mortgage Product Summary
Flexible Lifetime Mortgage Product Summary The Flexible Lifetime Mortgage provides you with an initial cash sum in the form of a mortgage loan. A legal charge is secured on your home. For as long as you
More informationBridgewater Equity Release
Bridgewater Equity Release Home Reversion Plan Application Form Intermediary Checklist An incomplete form may delay the processing of this application. To help assist us, please check: 1. The Intermediary
More informationDeferred Payment Agreement (DPA) Fact Sheet
Deferred Payment Agreement (DPA) Fact Sheet From April 2015, all councils in England are required to provide a Deferred Payment scheme for local residents. This will apply to anyone who owns a property
More informationRetirement Mortgage Product summary
Retirement Mortgage Product summary The Retirement Mortgage from Hodge Lifetime provides you with a flexible way to borrow money in retirement. A legal charge is secured on your home. AIMS The Retirement
More informationMemorandum of Mortgage
Memorandum of Mortgage Form of registrable memorandum MEMORANDUM NUMBER 2012/4308 Section 155A, Land Transfer Act 1952 BARCODE Class of instrument in which provisions intended to be included: Mortgage
More informationAdditional Terms and Conditions
Page 1 of 35 Additional Terms and Conditions The following set of additional terms and conditions is attached as Schedule B to Canadian Imperial Bank of Commerce Residential Mortgages in Newfoundland and
More informationMORTGAGE PART 1 (This area for Land Title Office use) Page 1 of pages
LAND TITLE ACT FORM B (Section 225) Province of British Columbia MORTGAGE PART 1 (This area for Land Title Office use) Page 1 of pages 1. APPLICATION: (Name, address, phone number and signature of applicant,
More informationSelling / assigning your shared ownership lease
Selling / assigning your shared ownership lease Information for leaseholders Assignment Your questions answered Q: What is assignment? A: Assignment is the term given when you sell your shared ownership
More informationLaw Society and Council of Mortgage Lenders Approved Certificate of Title
Law Society and Council of Mortgage Lenders Approved Certificate of Title Details box TO: (Lender) Lender's Reference or Account No: The Borrower: Property: Title Number: Mortgage Advance: Price stated
More informationStaircasing. Buying more shares in your home. Information for leaseholders
Staircasing Buying more shares in your home Information for leaseholders Staircasing Your Questions Answered Q: What is staircasing? A: Staircasing is the term given to buying extra shares in your shared
More informationCommercial Property Disposals Guide
Commercial Property Disposals Guide (For James Hay Modular isipp, Private Client SIPP, Select SIPP, Wrap SIPP, Partnership SIPP, Family SIPP, IPS SIPP, IPS 2008 SIPP and IPS Pension Builder only) Contents
More informationBEFORE DRAWDOWN OF REVERSE MORTGAGE LOAN
IMPORTANT NOTICE Please read this notice carefully before you proceed with your application for a reverse mortgage loan. This notice only provides additional information about a reverse mortgage loan,
More informationTerms and Conditions 1. 3.8. 2. 3.9. 3. The Tenant will: 3.1. 3.2. 3.10. 3.3. 3.11. 3.4. 3.12. 3.5. 3.13. 3.6. 3.14. 3.15. 3.7. 3.16.
Terms and Conditions 1. This Agreement is intended to create an Assured Shorthold Tenancy as defined in the Housing Act 1988 (as amended) and the provisions for the recovery of possession by the Landlord
More informationA guide to Preserved Right to Buy and Right to Acquire
A guide to Preserved Right to Buy and Right to Acquire Customer Approved Customer Approved Who has the Preserved Right to Buy (PRTB) You may exercise the PRTB if you are a tenant of Severn Vale Housing
More informationinspect and estimate the rental value of your premises advertise and market as may be necessary
TERMS & CONDITIONS FOR LANDLORDS OF RESIDENTIAL ACCOMMODATION SUMMARY OF SERVICES A: LETTING ONLY we will inspect and estimate the rental value of your premises advertise and market as may be necessary
More informationSTANDARD LIFE ASSURANCE LIMITED FUTUREPERFECT MORTGAGE TERMS AND CONDITIONS (ENGLAND AND WALES) 2009
STANDARD LIFE ASSURANCE LIMITED FUTUREPERFECT MORTGAGE TERMS AND CONDITIONS (ENGLAND AND WALES) 2009 LOANS SECURED ON FREEHOLD AND LEASEHOLD PROPERTY IN ENGLAND AND WALES YOU SHOULD KEEP A COPY OF THIS
More informationDeferred Payment Agreement Charging
Deferred Payment Agreement Charging What is a Deferred Payment Agreement? A Deferred Payment Agreement is an arrangement with the council that will enable you to use the value of your home to help pay
More informationSaffron Building Society Mortgages Savings Investments Insurance Loans. Residential mortgage conditions. www.saffronbs.co.
Saffron Building Society Mortgages Savings Investments Insurance Loans Residential mortgage conditions www.saffronbs.co.uk 0800 072 1100 Saffron Building Society Residential Mortgage Conditions (England
More informationCommercial Net Lease for Entire Building
Commercial Net Lease for Entire Building 1. Names. This lease is made by, Landlord, and, Tenant. 2. Premises Being Leased. Landlord is leasing to Tenant and Tenant is leasing from Landlord the following
More informationMr and Mrs Sample and future owners or occupants of the Property and Your/their mortgage lender(s).
Contingent Buildings Insurance Indemnity Policy This Policy is the contract between You and the Insurer and it includes the Schedule and any endorsement, extension, plan or appendix issued with it. We
More informationWhat will happen to my Home. Information about your home when bankruptcy occurs.
What will happen to my Home Information about your home when bankruptcy occurs. This leaflet covers the questions you are most likely to want answered about your home if you are made bankrupt. 1. Will
More informationMeanwhile use lease and guidance notes. (for direct lettings by a landlord to a temporary occupier)
Meanwhile use lease and guidance notes (for direct lettings by a landlord to a temporary occupier) Guidance notes: meanwhile use lease 1 Background This lease has been prepared as part of the Communities
More informationAcquiring land April 2001
Acquiring land April 2001 Contents 1. What is this guidance about? 2 2. In this guidance 2 3. Trustees powers and duties 3 4. What are the general duties of trustees when acquiring land for their charity?
More informationOnshore Bond for Wrap Key Features
Onshore Bond for Wrap Key Features This is an important document. Please read it and keep it along with your personal illustration for future reference. The Financial Conduct Authority is a financial services
More informationYour Choice Equity Loan Scheme
Your Choice Equity Loan Scheme Assisting aspiring homeowners to get on to the property ladder Catalyst Housing (Catalyst) is a leading housing association delivering affordable homeownership products across
More informationBuying a flat. Your guide to. www.lawsociety.org.uk. Leasehold flats. Some differences between a house and a flat
www.lawsociety.org.uk Your guide to Buying a flat Leasehold flats Buying a flat is not the same as buying a house. If you are buying a home, whether a house or a flat, you should read our guide to Buying
More informationMORTGAGE REF. NO. FREEHOLD LEASEHOLD (check ( ) appropriate box)
MORTGAGE REF. NO. FREEHOLD LEASEHOLD (check ( ) appropriate box) I/We,, (the borrower) being registered as owner of CHECK BOX an estate in fee simple possession, WHICH APPLIES a leasehold estate, subject,
More informationHousing and Planning Bill
[AS AMENDED IN PUBLIC BILL COMMITTEE] CONTENTS PART 1 NEW HOMES IN ENGLAND CHAPTER 1 STARTER HOMES 1 Purpose of this Chapter 2 What is a starter home? 3 General duty to promote supply of starter homes
More informationThe National Association of Estate Agents
The National Association of Estate Agents Residential Estate Agency Code of Practice The National Association of Estate Agents Arbon House 21 Jury Street Warwick CV34 4EH Telephone: 01926 496800 Facsimile:
More informationRESIDENTIAL LOAN AGREEMENT. General terms & conditions
RESIDENTIAL LOAN AGREEMENT General terms & conditions Effective Date: 23 May 2016 IMPORTANT NOTE This document does not contain all the terms of your loan agreement or all of the information we are required
More informationRETAINER AGREEMENT please complete and sign the form below and send to: Christo & Co 148 Kentish Town Road London NW1 9QB
RETAINER AGREEMENT please complete and sign the form below and send to: Christo & Co 148 Kentish Town Road London NW1 9QB FULL NAME: ADDRESS: POSTCODE: TEL: I am looking for the following type of property:
More informationThe Deferred Payments Scheme. An information leaflet for home owners, paying for residential or nursing home care
The Deferred Payments Scheme An information leaflet for home owners, paying for residential or nursing home care What is the Deferred Payment Scheme? The deferred payment scheme is designed to help if
More informationPROPERTY MANAGEMENT AGREEMENT
PROPERTY MANAGEMENT AGREEMENT OWNER: AGENT: PROPERTY: APN: Owner and Property Manager, as hereinafter identified, agree as follows: 1. APPOINTMENT OF AGENT: Owner hereby appoints and grants Property Manager
More informationNewcastle City Council. Deferred Payment Scheme. Effective from 1 April 2015
Newcastle City Council Deferred Payment Scheme Effective from 1 April 2015 1 1. Introduction and Legal Status 1.1 The Care Act 2014 (section 34-36) establishes a universal deferred payment scheme, which
More informationWrap ISA and Wrap Personal Portfolio 1/26
Wrap ISA and Wrap Personal Portfolio 1/26 Terms and conditions These terms govern your relationship with Standard Life Savings, a company authorised and regulated by the FCA which is part of the Standard
More informationApplication form Residential Mortgage
Application form Residential Mortgage Intermediary details This section requires details of any Broker, Packager, Sub broker, or Network who has an interest in this application. THIS PAGE MUST BE COMPLETED
More informationInternational Construction Warranties Limited. Terms & Conditions. Version UK1
International Construction Warranties Limited Terms & Conditions Version UK1 Rules of Registration Version 5 All Companies applying for or taking out a Warranty on a New Development with ICW shall comply
More informationI/We, , (the borrower ) being registered as owner of
MORTGAGE REF. NO. FREEHOLD LEASEHOLD (check ( ) appropriate box) I/We,, (the borrower ) being registered as owner of CHECK BOX WHICH APPLIES an estate in fee simple in possession, a leasehold estate, in
More informationConsolidated implied terms in park home pitch agreements
Park homes factsheet Consolidated implied terms in park home pitch agreements Implied terms are contractual terms which are implied by statute into the pitch agreement between a resident and a park owner
More informationManufactured Home Parks. Buying a manufactured home and moving into a manufactured home park
Manufactured Home Parks Buying a manufactured home and moving into a manufactured home park THE LAW The Manufactured Homes (Residential Parks) Act 2003 (Qld) contains the law about the operation of manufactured
More informationTariff. A tariff of charges for our. Mortgage Services
Mortgage Services Tariff A tariff of charges for our Mortgage Services Effective 1st February 2015 Mortgage Services Tariff This tariff gives details of the charges payable in connection with mortgage
More informationHelp to Buy Buyers Guide
Help to Buy Buyers Guide Homes and Communities Agency http://www.homesandcommunities.co.uk/helptobuy Page 1 of 27 Key information Buyers using this scheme must provide security in the form of a second
More informationMeanwhile use sublease and guidance notes. (for lettings by an intermediary, e.g. a local authority or voluntary body)
Meanwhile use sublease and guidance notes (for lettings by an intermediary, e.g. a local authority or voluntary body) Guidance notes: meanwhile use sublease 1 Background This sublease has been prepared
More informationLump Sum Lifetime Mortgage Product Summary
Lump Sum Lifetime Mortgage Product Summary This document is intended to provide you with an introduction to our Lump Sum Lifetime Mortgage. Aims The lump sum lifetime mortgage provides you with a cash
More informationADVICE NOTE BUYING AND SELLING YOUR FLAT. A summary of the typical events when buying and selling a leasehold flat
ADVICE NOTE BUYING AND SELLING YOUR FLAT A summary of the typical events when buying and selling a leasehold flat 2 CONTENTS Note: As the leading trade body for residential leasehold management, ARMA is
More informationALL YOU NEED TO KNOW.
LIFETIME MORTGAGE LIFETIME MORTGAGES ALL YOU NEED TO KNOW 1 ALL YOU NEED TO KNOW. 2 LIFETIME MORTGAGES ALL YOU NEED TO KNOW CONTENTS 1. IntrODUCTION 2. AbOUT lifetime mortgages 3. FeaturES of our lifetime
More informationOur Charges. 2. Valuation fee From 135. Estimated property value Valuation report cost
Our Charges This document sets out the main costs that you may incur during the course of your mortgage term. If our charges change in the future, you will be charged the updated fee. We will Our always
More informationHelp to Buy Buyers Guide. Homes and Communities Agency http://www.homesandcommunities.co.uk/helptobuy August 2014
Help to Buy Buyers Guide Homes and Communities Agency http://www.homesandcommunities.co.uk/helptobuy August 2014 What is Help to Buy? Help to Buy is equity loan assistance to home buyers from the Homes
More informationPOLICY CONDITIONS Conductor Personal Pension Plan (PC CPPP 06/11)
POLICY CONDITIONS Conductor Personal Pension Plan (PC CPPP 06/11) Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Contract and definitions Contributions The funds Unit linking Benefits General
More informationYour guide to the Vale of White Horse District Council Open Market Equity Loan Scheme
Your guide to the Vale of White Horse District Council Open Market Equity Loan Scheme Making your aspiration of homeownership a reality Your Home, Your Choice For eligible people living or working in the
More informationRedeeming your equity loan
Redeeming your equity loan Information for leaseholders Equity loan redemption... Your questions answered Q: What is equity loan redemption? A: Equity loan redemption is when you pay back the loan given
More informationTenancy Agreement. Document Template provided by www.makeurmove.co.uk. Intended for use in the UK only.
Tenancy Agreement Intended for use in the UK only. For letting a furnished dwelling-house on an assured shorthold tenancy under Part I of the Housing Act 1988 as amended by the Housing Act 1996 This is
More informationSHARED OWNERSHIP BUYERS GUIDE
SHARED OWNERSHIP BUYERS GUIDE SHARED OWNERSHIP SHARED OWNERSHIP PROVIDES AN AFFORDABLE WAY TO BUY A HOME. YOU PURCHASE A SHARE IN A BRAND NEW HOME AND PAY A SUBSIDISED RENT ON THE PART YOU DON T OWN. IN
More informationTRUSTEE TRANSFER PLAN Policy Document
TRUSTEE TRANSFER PLAN Policy Document [2] POLICY DOCUMENT TRUSTEE TRANSFER PLAN Contents 1. Introduction 4 2. Payments to us 6 3. Charges 7 4. Benefits payable under the Policy 8 5. Investments under the
More informationMr and Mrs Sample and future owners or occupants of the Property and Your/their mortgage lender(s).
Absentee Landlord Indemnity Insurance Policy This Policy is the contract between You and the Insurer and it includes the Schedule and any endorsement, extension, plan or appendix issued with it. We have
More informationSection 121AA Housing Act 1985. Information to help tenants decide whether to exercise the Right to Buy
Section 121AA Housing Act 1985 Information to help tenants decide whether to exercise the Right to Buy April 2012 SECTION 121A HOUSING ACT 1985 INFORMATION TO HELP TENANTS DECIDE WHETHER TO EXERCISE THE
More informationSTANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS
Protocol Annex 4 STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS Produced by the IVA FORUM Revised November 2013 For use in Proposals issued on or after 1 January 2014 TABLE OF CONTENTS FOR STANDARD
More informationHousing and Planning Bill
EXPLANATORY NOTES Explanatory notes to the Bill, prepared by the Department for Communities and Local Government, are published separately as Bill 7 EN. EUROPEAN CONVENTION ON HUMAN RIGHTS Secretary Greg
More informationYOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Buy to Let investors guide
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE Buy to Let investors guide On your side in Buy to Let Buying property to let as a long-term investment or to generate
More informationCLIENT GUIDE TO LEASES
CLIENT GUIDE TO LEASES You have asked us to act for you in connection with the grant of a new Lease or the assignment (purchase) of an existing Lease. The purpose of this guide is to advise you of various
More informationEmpty Dwelling Management Orders Guidance for residential property owners. housing
Empty Dwelling Management Orders Guidance for residential property owners housing Contents Introduction 2 Summary 3 Key facts for property owners 4 Making of Empty Dwelling Management Orders 5 Money Matters
More informationResidential Long Leaseholders. A guide to your rights and responsibilities
Residential Long Leaseholders A guide to your rights and responsibilities Contents Introduction 5 1 2 3 4 5 6 7 8 9 10 11 Leasehold flats & houses A summary of your rights & responsibilities 7 Leasehold
More informationInformation for people in residential care with property
Information for people in residential care with property If you are assessed as eligible for permanent residential care and you have a property and your other capital is valued at less than 23,250 the
More informationA guide to Deferred Payments
A guide to Deferred Payments Paying for residential care or nursing care if you own your home What is the deferred payment scheme? If you are a home owner moving to residential or nursing care, this scheme
More informationWMP/LIABS/SDBTC/131227
1 1. The Licensee will have access to the Box at any time during the designated business hours of the Bank subject to such regulations as prescribed by the Bank except where access is prevented for reason(s)
More informationThinking of buying? Your right to buy your council home
Thinking of buying? Your right to buy your council home Buying your home is probably the biggest financial decision you will ever make so it s important to consider whether it is the right choice for you.
More informationPaying for the costs of major works to your property
Paying for the costs of major works to your property Introduction We are responsible for thousands of homes and are committed to keeping those homes in a good state of repair. This means that from time
More informationAGENCY AGREEMENT. Between 3Keys Limited company registration number 06841492 6 of Town End Doncaster DN5 9AG ... ... ... ... ... Postcode..
AGENCY AGREEMENT Between 3Keys Limited company registration number 06841492 6 of Town End Doncaster DN5 9AG and Landlord s name/s (all joint landlords):... Landlord s address: (current address and new
More informationBusiness leases guide
Business leases guide BUSINESS LEASES GUIDE Contents What is a business "tenancy"? Creation of a tenancy Common terms in lease Repairing liability FRI terms Landlord's covenants Insurance Tenant's continuing
More informationWhat will happen to my home?
What will happen to my home? Information about your home when bankruptcy occurs. This section covers the questions you are most likely to want answered about your home if you are made bankrupt: Will I
More informationRight to Buy your Home. Many Halton Housing Trust customers are entitled to buy their home and are eligible for a discount on the purchase price.
Right to Buy your Home Many Halton Housing Trust customers are entitled to buy their home and are eligible for a discount on the purchase price. We have put together this leaflet to explain the options
More informationSTANDARD MORTGAGE TERMS RESIDENTIAL
Form 3995 (03-2006) STANDARD MORTGAGE TERMS RESIDENTIAL MT060089 Filed: January 6, 2006 Vancouver/New Westminster Land Title Office FILED BY: ROYAL BANK OF CANADA The following set of standard mortgage
More informationInterested in buying your own home?
Interested in buying your own home? A legal guide to Right to Buy 02030827 right to buy booklet 2015 V1.indd 3 21/07/2015 15:15:54 Further information Sanctuary Housing Customer Services 0300 123 3516
More informationLeasing Business Premises: Occupier Guide
Leasing Business Premises: Occupier Guide This document is one of three component parts of the Code for Leasing Business Premises Copyright The Joint Working Group on Commercial Leases, 2007. Any of the
More informationCommercial Property Investment Guide. Your guide to purchasing and managing a commercial investment property
Commercial Property Investment Guide Your guide to purchasing and managing a commercial investment property Contents Introduction 1 The benefits of commercial property investment 2 Why invest in property?
More informationTariff of Mortgage Charges
Tariff of Mortgage Charges 0800 298 5714 precisemortgages-customers.co.uk Precise Mortgages is closely involved in the mortgage industry s initiative with the Council of Mortgage Lenders and Which? to
More informationYour guide to YourChoice Open Market Home Purchase Equity Loan Scheme. Making your aspiration of homeownership a reality
Your guide to YourChoice Open Market Home Purchase Equity Loan Scheme Making your aspiration of homeownership a reality For eligible people living or working in the South Bucks District Council area Delivered
More informationROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON VALUERS, APPRAISERS AND ESTATE AGENTS
ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON VALUERS, APPRAISERS AND ESTATE AGENTS CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax (GST)... 1 GST AND VALUERS, APPRAISERS AND ESTATE
More informationDRAFT Version 1.2 Revision Date: 16/7/10
LOCAL AUTHORITY SEARCH REPORT INSURANCE POLICY 1. Policy Issuer: Stanley Davis Group Limited trading as York Place Policy Number: SDGLA0001 Definitions In this policy unless the context otherwise requires:
More informationLand Compensation Your Rights Explained
Land Compensation Your Rights Explained 4 The Farmer and Public Development ISBN 0 7504 9869 2 November Crown copyright 2003 Designed by Graphics Unit G/367/03-04 INA-15-05-075 Typesetting by Text Processing
More informationInvestment Trust ISA and Savings Scheme. Terms and conditions
Investment Trust ISA and Savings Scheme Terms and conditions Terms and conditions This section explains the legal terms and conditions of your Investment Trust ISA (which we refer to in these terms as
More informationElite Retirement Account
Elite Retirement Account Schedule of Fees & Services This document helps you understand the fees for establishing and administering a SIPP. It also provides you with a comprehensive guide to all costs,
More information