AFFIDAVIT - PlatformAffidavit / Renunciation / Consent New Home Warranty Certificates (if...
Transcript of AFFIDAVIT - PlatformAffidavit / Renunciation / Consent New Home Warranty Certificates (if...
I
DOHEREBYDECLAREasfollows:-_____________________________________________________________________________________
1. IntermsofaMortgageOfferdated (includinganyamendmentthereto)TheCo-operativeBankp.l.c. (tradingasPlatform),whoseoffice isatNewtonHouse,CheadleRoad,Leek,StaffordshireST135RGhasagreedtoadvancetomealoanof£ tobesecured(togetherwithanyfurtheradvanceswhichmaybemade)byaStandardSecurityoverthepropertyknownasandforming
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2. Asatthedateofthisdeclarationthesaidpropertyisnotamatrimonialhomeinrelationtowhichaspouseofminehasoccupancy rights, the expressions “matrimonial home” and “occupancy rights” having the meanings respectivelyascribedtothembytheMatrimonialHomes(FamilyProtection)(Scotland)Act1981asamended,orafamilyhomeinrelationtowhichacivilpartnerofminehasoccupancyrights,theexpressions“familyhome”and“occupancyrights”havingthemeaningsrespectivelyascribedtothembytheCivilPartnershipAct2004asamended.
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SUBSCRIBEDbytheabovenamed
at
on
Signature
beforethiswitness
Signatureofwitness
Nameofwitness
Addressofwitness
AFFIDAVIT
PlatformP.O.Box3462,CheadleRoad,LeekST139BGDX16351(Leek)Telephone:03450701999
TheCo-operativeBankp.l.c.isauthorisedbythePrudentialRegulationAuthorityandregulatedbytheFinancialConductAuthorityandthePrudentialRegulationAuthority(No.121885).TheCo-operativeBank,Platform,smileandBritanniaaretradingnamesofTheCo-operativeBankp.l.c.,P.O.Box101,1BalloonStreet,ManchesterM604EP.RegisteredinEnglandandWalesNo.990937.CreditfacilitiesareprovidedbyTheCo-operativeBankp.l.c.andaresubjecttostatusandourlendingpolicy.TheBankreservestherighttodeclineanyapplicationforanaccountorcreditfacility.TheCo-operativeBankp.l.c.isamemberoftheCouncilofMortgageLendersandsubscribestotheLendingCodewhichismonitoredbytheLendingStandardsBoard.Callsto0800and0808numbersarefreefromlandlinesandmobiles.Callsto03numberscostthesameascallstonumbersstartingwith01and02.Callsto0845and0870numberscost3pperminute,plusyourphonecompany’saccesscharge.Callsto0844and0843numberscost7pperminute,plusyourphonecompany’saccesscharge.Callsmaybemonitoredorrecordedforsecurityandtrainingpurposes.
P02301/16
TO: Platform DX 16351 (Leek)
CustomerAccountNumber: AnticipatedCompletionDate:
Please allow FIVE working days for us to transfer the funds.Normallyyouraccountwillbecreditedoneworkingday
priortothecompletiondateshown.Shouldyoubeunabletogivefiveworkingdays’noticepleasetelephonetomake
specialarrangements.Pleasecompletefulldetailsasanyerrorsoromissionmayresultinadelayincompletion.
BORROWER(S) Fullname(s):
PROPERTY PropertyasshownonStandardSecurity:
Postcode
Absoluteownershipq Leaseholdq Ifleasehold,unexpiredtermoflease: years.
REGISTRATION - Please tick appropriate box
LandRegister q TitleNumber Sasineq FirstRegistrationq
BUILDINGS INSURANCE
PleaseconfirmifthecustomerishavingL&Ginsurance(Thiswillallowfora£30adminrefund):q
Pleaseconfirmpropertyisadequatelyinsured:q
RenewalDate:
TRANSACTION
Remortgageq Purchaseq IfPurchase,confirmedpurchaseprice: £
LoanAmount(includingfees): £
We,thefirmofsolicitorsspecifiedundertheheading“FundsTransfer”hereof,confirmthattheCompanymaywarrantto
anypersonsadvancingmoneytotheCompanyonthesecurityoftheStandardSecurityorpurchasingtheSecuritythatit
isenforceableandalllegalformalitieshavebeencompliedwithtoprotecttheCompany’sinterestintheSecurity.
Referencestothe“Company”,includeTheCo-operativeBankp.l.c.(tradingasPlatform)anditssuccessorsandassignees
whomsoever.
CERTIFICATE OF TITLE AND FUNDS TRANSFER REQUEST
PlatformP.O.Box3462,CheadleRoad,LeekST139BGDX16351(Leek)Telephone:03450701999
SCOTLAND
Twocopiesareprovided-oneforyourfile
CERTIFICATE OF TITLE AND CERTIFICATIONSWecertifytotheCompanythat:
1. WehaveinvestigatedtitletothePropertyandmadeallnecessaryenquiriesandsearchesandconfirmthattheBorrowerhasorwillacquiregoodandmarketabletitletothePropertywhichdoesorwillconstituteagoodSecurity.
2. AllconditionscontainedintheCompany’smortgageoffertotheBorrower(s)(the“MortgageOffer”)orthecreditagreementbetweentheCompanyandtheBorrower(s)(the“CreditAgreement”)havebeencompliedwithandtheStandardSecurity(the“Security”)intheCompany’sstandardformhasbeenorwill,beforecompletion,beexecutedbytheBorrower(s)andtheSecuritywill,atcompletion,constituteafirstSecurityoverthePropertyinfavouroftheCompany.
3. AllrequirementsoftheCompany’sinstructionsaresatisfied.4. ThedescriptionofthePropertygivenintheMortgageOfferortheCreditAgreementandintheCompany’s
valuationofthePropertyiscorrect.TheassumptionsexpresslyreferredtointheCompany’svaluationonmattersofthetitle,termsofanylease,area,boundaries,rights,encumbrancesandrestrictionsarecorrect.
5. WeconfirmthatalltherequirementsoftheMatrimonialHomes(FamilyProtection)(Scotland)Act1981asamendedhavebeencompliedwith.
6. Thesecertifications,theCertificateofTitleandtheundertakingsbelowareaddressedtoandwillbereliedonbytheCompanyanditssuccessorsintitleandanyonederivingtitlefromthemincluding,withoutprejudicetotherightsoftheCompanyanditssuccessors,anytrusteeonbehalfofanygroupofpersonsorcompaniesinterestedintheSecurity.
7. WehaveadutyofcaretotheCompany’ssuccessorsandthosederivingtitlefromthem.
REPORTWereportasfollows:Unlessspecifiedbelow,therearenomattersofconcernaffectingthePropertyorthesecuritycreatedbytheSecurity.(Please use an additional sheet if necessary)
It should be noted that any potential issues should have been disclosed to the Company and dealt with before the certifications are given and the funds transfer requested (see paragraph 1 above).
UNDERTAKINGSWeundertake:1. NottopartwithanysumreceivedfromtheCompanyuntiltheSecurityandallothernecessarydocumentshave
beendulyexecutedandcompletedandtoapplysuchsumasisnecessaryintheacquisitionofgoodandmarketabletitletothePropertyand/orindischarginganyexistingSecurityoverthePropertyand/orindischarginganyotherindebtednessspecifiedbytheCompany(asthecasemayrequire).
2. ImmediatelyuponcompletionoftheSecuritytoserveonbehalfoftheCompanyallnoticesrequiredtobeservedpursuanttotheCompany’sinstructionstous.
3. ToholdthetitledeedstothePropertytotheCompany’sorderandtoforwardthesetotheCompanyassoonasallpost-completionmatterssetoutintheCompany’sinstructionshavebeencarriedout.
FUNDS TRANSFERWerequestthatfundsbetransferredtoourClientAccountasfollows:
Bank: Branch:
Accountno.: Sortcode:
Signed(asolicitor/conveyancerholdingacurrentpractisingcertificate):
ForandonbehalfofMessrs:
Nameofauthorisedsignatory(pleaseprint):
Dated: Reference(pleaseprint):
TheCo-operativeBankp.l.c.isauthorisedbythePrudentialRegulationAuthorityandregulatedbytheFinancialConductAuthorityandthePrudentialRegulationAuthority(No.121885).TheCo-operativeBank,Platform,smileandBritanniaaretradingnamesofTheCo-operativeBankp.l.c.,P.O.Box101,1BalloonStreet,ManchesterM604EP.RegisteredinEnglandandWalesNo.990937.CreditfacilitiesareprovidedbyTheCo-operativeBankp.l.c.andaresubjecttostatusandourlendingpolicy.TheBankreservestherighttodeclineanyapplicationforanaccountorcreditfacility.TheCo-operativeBankp.l.c.isamemberoftheCouncilofMortgageLendersandsubscribestotheLendingCodewhichismonitoredbytheLendingStandardsBoard.Callsto0800and0808numbersarefreefromlandlinesandmobiles.Callsto03numberscostthesameascallstonumbersstartingwith01and02.Callsto0845and0870numberscost3pperminute,plusyourphonecompany’saccesscharge.Callsto0844and0843numberscost7pperminute,plusyourphonecompany’saccesscharge.Callsmaybemonitoredorrecordedforsecurityandtrainingpurposes.
P02001/2016
DEEDS SCHEDULE
Please do not forward any title documents until a copy of the register can be provided showing The Co-operative Bank
p.l.c. (trading as Platform) hold a first charge.
It is important that ALL documents are enclosed and the following checklist should be completed by ticking the
appropriate boxes.
Please complete the Schedule in full, return the original and retain one copy for your file.
Please send to Platform, PO Box 237 Plymouth PL1 1WG or DX 133791 Plymouth 13.
Charge Certificate / Standard Security
Land Certificate / Disposition
Search
Buildings Insurance policy (copy - if appropriate)
(The Lender’s interest endorsed)
Matrimonial Homes
Affidavit / Renunciation / Consent
New Home Warranty Certificates (if appropriate)
Other Documents (specify)
Mortgage Account Number: Date of Mortgage: Title Number:
Property Address (as in the Mortgage):
Postcode
Borrower:(Full Name(s))
PlatformP.O. Box 3462, Cheadle Road, Leek ST13 9BGDX 16351 (Leek)Telephone: 0345 070 1999
THE SCHEDULE OF DEEDS AND DOCUMENTS
Date The Document The Parties
This Schedule was completed in duplicate by (Name of Practice)
of (Address of Practice)
on (Date Schedule Completed)
P019 01/16
The Co-operative Bank p.l.c. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (No. 121885). The Co-operative Bank, Platform, smile and Britannia are trading names of The Co-operative Bank p.l.c., P.O. Box 101, 1 Balloon Street, Manchester M60 4EP. Registered in England and Wales No. 990937. Credit facilities are provided by The Co-operative Bank p.l.c. and are subject to status and our lending policy. The Bank reserves the right to decline any application for an account or credit facility. The Co-operative Bank p.l.c. is a member of the Council of Mortgage Lenders and subscribes to the Lending Code which is monitored by the Lending Standards Board.Calls to 0800 and 0808 numbers are free from landlines and mobiles. Calls to 03 numbers cost the same as calls to numbers starting with 01 and 02. Calls to 0845 and 0870 numbers cost 3p per minute, plus your phone company’s access charge. Calls to 0844 and 0843 numbers cost 7p per minute, plus your phone company’s access charge. Calls may be monitored or recorded for security and training purposes.
LIST 1: PROOF OF IDENTITY
• Currentvalidpassport(mustcontainEnglishtranslation)
• CurrentUKoldstyledrivinglicence(fulllicenceonly– oldstyleprovisionallicenceisnotacceptable)
• CurrentUKphotocarddrivinglicence(fullorprovisional)– counterpartnotrequired
• BenefitbookormostrecentletterfromtheBenefitsAgencyconfirmingtherighttobenefits(issuedwithinthelast6monthsorvalidforthecurrentyear)
• Firearmscertificate/shotgunlicence
LIST 2: PROOF OF ADDRESS
• Recentutilitybill(issuedwithinthelast6months)Mobilephonebillsarenotacceptable
• Mostrecentbank,buildingsocietyorcreditunionstatement,letterorpassbookcontainingcurrentaddress(issuedwithinthelast6months)Internetstatementsnotacceptable
• Mostrecentmortgagestatementfromarecognisedlender(issuedwithinthelast6monthsorvalidforthecurrentyear)
• BenefitsbookormostrecentnotificationfromtheBenefitsAgencyconfirmingtherighttobenefits(issuedwithinthelast6monthsorvalidforthecurrentyear)
• CurrentUKoldstyledrivinglicence(fulllicenceonly– oldstyleprovisionallicenceisnotacceptable)
• MostrecentHMRevenue&Customstaxnotification(issuedwithinthelast6monthsorvalidforthecurrentyear–SA302,P60,P45notacceptable)
• NorthernIrelandElectoralIDcard(nomorethan10yearsold)
• EU/EEAmemberstateIDphotocard.(UKIDcardsarenotacceptable)Not acceptable for products with Free Standard Legals
• NationalIDcard(fornon-EEAforeignnationals)Not acceptable for products with Free Standard Legals
• CurrentUKphotocarddrivinglicence(fullorprovisional)– counterpartnotrequired
• Localauthoritytaxbill(issuedwithinthelast6monthsorvalidforthecurrentyear)
• LocalcounciltenancyagreementNot acceptable for products with Free Standard Legals
• MostrecentHMRevenue&Customstaxnotification(issuedwithinthelast6monthsorvalidforthecurrentyear–SA302,P60,P45notacceptable)
• ConfirmationfromanelectoralregistersearchthatapersonofthatnamelivesatthataddressNot acceptable for products with Free Standard Legals and if acceptable to use on specific application as proof
IDENTITY REQUIREMENTS
CERTIFYING DOCUMENTATION
PlatformP.O.Box3462,CheadleRoadLeekST139BGTelephone:03450701999DX16351(Leek)
• Ifyouhaveseentheapplicant(s)facetofaceyoumustprovideonedocumentfromList1andonedocumentfromList2foreachapplicant.
(AnyitemwhichisduplicatedinList1andList2,willonlybeacceptedasoneformofidentification)
• Ifyouhavenotseentheapplicant(s)facetofaceyoumustprovidetwodocumentsfromList1andonedocumentfromList2foreachapplicant.
(AnyitemwhichisduplicatedinList1andList2,willonlybeacceptedasoneformofidentification)
• Eachdocumentmustbeaphotocopyoftheoriginaldocument,andmustcontainthesignatureofthepersoncertifying.
• Thepersonwhohasseentheoriginaldocumentmustcertifyeachdocumentusingthefollowingwording:‘Icertifythatthisisatruecopyoftheoriginal’.Theymustthenstatetheirname,companyname,andeachcertificationmustbesignedanddated.
• Ifyouhaveseentheapplicantfacetoface,andthedocumentincludesphotographicidentification,youmuststate‘Icertifythatthisisatruelikenessoftheapplicant’.
• MortgageIntroducerswhoarecertifyingdocumentationmustbeFCAauthorised.
• Aprofessionalperson(lawyers)coveredbymoneylaunderingregulationsmayalsocertifycopiesofidentificationdocuments.
We accept identification documents via document upload, email, fax or post. We will only accept correctly certified identification documents.
TheCo-operativeBankp.l.c.isauthorisedbythePrudentialRegulationAuthorityandregulatedbytheFinancialConductAuthorityandthePrudentialRegulationAuthority(No.121885).TheCo-operativeBank,Platform,smileandBritanniaaretradingnamesofTheCo-operativeBankp.l.c.,P.O.Box101,1BalloonStreet,ManchesterM604EP.RegisteredinEnglandandWalesNo.990937.CreditfacilitiesareprovidedbyTheCo-operativeBankp.l.c.andaresubjecttostatusandourlendingpolicy.TheBankreservestherighttodeclineanyapplicationforanaccountorcreditfacility.TheCo-operativeBankp.l.c.isamemberoftheCouncilofMortgageLendersandsubscribestotheLendingCodewhichismonitoredbytheLendingStandardsBoard.Callsto0800and0808numbersarefreefromlandlinesandmobiles.Callsto03numberscostthesameascallstonumbersstartingwith01and02.Callsto0845and0870numberscost3pperminute,plusyourphonecompany’saccesscharge.Callsto0844and0843numberscost7pperminute,plusyourphonecompany’saccesscharge.Callsmaybemonitoredorrecordedforsecurityandtrainingpurposes.
P03401/16
mortgage conditions(Scottish edition) 2016
the co-operative bank p.l.c.(trading as platform)
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These Conditions are legally binding on you and include restrictions and requirements concerning the use of the property to be mortgaged.
You should read and understand the Conditions and refer any queries to your independent legal advisors.
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Contents
Clause Page
Definitions 1
Interpretation 3
1. AgreementToPay 3
2. TheInterestRate 4
3. MonthlyPayments 5
4. EarlyRepayment 6
5. YourObligations 6
6. Insurance 7
7. FeesAndExpenses 8
8. OurRightsAndRemedies–OurRightToSellTheProperty 9
9. OurRightsAndRemedies–OurAdditionalPowers 9
10. OurRightsAndRemedies–PowersOfLeasing 10
11. RightsAndRemedies–YourGoods 10
12. OurRightsAndRemedies–Possession 10
13. TransferOrAssignationOfTheMortgage 10
14. ProtectionOfThirdParties 10
15. RelatedRights 11
16. AgreementToReimburseUs 11
17. FurtherAssurancesAndPowerOfAttorney 11
18. Miscellaneous 11
19. GeneralVariationofConditions 12
20. NoticesAndCommunications 12
21. ManagementCompany 12
22. RepaymentByUs 12
23. PartialInvalidity 12
24. StandardConditions 12
25. Law 13
26. IndependentLegalAdvice 13
27. FlexibleMortgages 13
AppendixA 14
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Page One
DEFINITIONS
“Act” meanstheConveyancingandFeudalReform(Scotland)Act1970.
“Bank of England Base Rate”meansthereporatedecidedbytheMonetaryPolicyCommitteeoftheBankofEnglandfromtimetotime.IfforanyreasonitisnotpossibletodeterminesuchratetheBankofEnglandBaseRatewillbesuchratewereasonablydecideisacomparablerateatthattime.
“Business Day”meansaday(otherthanaSaturday)onwhichbanksinLondongenerallyareopenfortransactingbusinessofthenaturerequiredforthepurposesoftheMortgage.
“Conditions”meanstheConditionsinthisdeedandtheStandardConditionsasvariedbytheMortgageandreferencetoaspecificConditionistotherelevantConditioninthisdeed.
“Costs”meansallcosts,fees,chargesandexpenseswhichmaybeincurredinconnectionwiththeMortgageasdescribedinCondition7.
“Interest Payment Day”meansthedayofthemonthspecifiedinyouracceptanceoftheMortgageOfferasthedayyouwishtomakeyourMonthlyPayments,whichcanbenolaterthanthe28thofeachmonth,orasotherwiseadvisedbyusfromtimetotimeinaccordancewithCondition3.8.Youcanvarythisdayfromtimetotimebygivingusatleast30daysadvancewrittennotice.IfyouchangetheInterestPaymentDaytheninterestwillbedueandpayablewhichwillnotautomaticallybecollectedintheMonthlyPaymentfollowingthechange.
“Interest Rate”meanstherateofinterestapplicabletosumsoutstandingundertheMortgageandcalculatedinaccordancewithCondition2A,2Bor2C(asspecifiedintheMortgageOffer).
“Issue Date”meansthedateonwhichwesendtheLoanAmount(lessanyamountretainedbyus)toyoursolicitorsortoanyotherpartyspecified(whetherbycheque,banker’sdraft,credittransferorinanyotherway).
“Libor”meansthethreemonthLondonInterbankOfferedRatefordepositsinsterlingquotedbyordesignatedfortheBritishBankersAssociationasat11.00amontherelevantRecalculationDate,roundedup(ifrelevant)tothenearest1/8th%.IfforanyreasonitisnotpossibletodeterminesuchrateLiborwillbesuchratewhichwereasonablydecideisacomparablerateatthattime.
“Loan Amount”meanstheamountoftheloanwhichweproposetomaketoyou,asspecifiedintheMortgageOffer,orasthecontextrequirestheamountofsuchloanoutstandingfromtimetotime.
“Monthly Payment”meanstheMonthlyPaymentspecifiedbyusintheMortgageOfferasvariedfromtimetotime.
“Mortgage”meansthestandardsecurityovertheProperty,grantedbyyouassecurityfortherepaymentoftheSecuredAmounts,andwhichincorporatesandincludestheConditionsandtheMortgageOffer.
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“Mortgage Offer”meansthewrittennoticeornoticesdescribedastheMortgageOfferprovidedtoyoubeforethedateoftheMortgagestatingthatwearepreparedinprincipletomakealoantoyouandtoprovideotherfacilitiesmentionedintheMortgageOffer(includinganywrittenvariationofthatnoticeornoticesandanysubsequentofferoffurtheradvancewheretherepaymentofsuchfurtheradvanceisorisintendedtobesecuredbytheMortgage)andincludes(fortheavoidanceofdoubt)allgeneralandspecialConditions(ifany)applicabletotheMortgageOffer.
“Property”shallincludeallpropertysecuredorintendedtobesecuredbyyoutousandalladditionsandotherthingson,andintendedtoformpartof,theProperty.
“Recalculation Date”meansthedatesonwhichtheInterestRatewillbere-setinaccordancewiththeMortgageOfferorsuchdatesasyouhaveotherwisebeenadvisedbyusfromtimetotimeinaccordancewithCondition3.8.
“Secured Amounts”means:(a) theLoanAmountandanyfurtheradvanceoradvancesmadebyustoyou,orthebalanceineachcaseowedbyyou
tousfromtimetotime;
(b) interestpayableontheamountsreferredtoinparagraph(a);
(c) anyotheramountswhichareorwhichmaybecome,orareexpressedtobe,payablebyyoutousundertheprovisionsoftheMortgageoranysecuritywhichisadditionaltotheMortgageorunderanyotherdocumentcreatinganySecurityInterestinfavourofusinrelationtoyourobligationstous;and
(d) allothermoneyforthetimebeingduebyyoutouswhetherofprincipal,interestorotherwiseandwhetherincurredbyyouasprincipalandincludingmoneyduetouspursuanttotheMortgageOffer.
TheSecuredAmountsdonotincludeanymoniesorliabilitiesregulatedbytheConsumerCreditAct1974(asamendedbytheConsumerCreditAct2006),unlessyouagreeotherwisewithus.
“Security Interest”meansanystandardsecurity,assignationinsecurity,rightofset-off,lienorothersecurityinterest(includinganyarisingorimposedasamatteroflaworunderlegislation).
“Standard Conditions”meansthestandardConditionssetoutinSchedule3totheAct.
“Standard Variable Rate”meansourstandardvariablerateofinterestwhichcanbechangedbyusatanytimeunderCondition2.
“Tariff of Charges”meansourscheduleoffeesandchargesasamended,substitutedorreplacedfromtimetotime.
“We” and “Us”meansthecompanydefinedasthe“Lender”intheMortgage,beingTheCo-operativeBankp.l.c.(tradingasPlatform),andincludesitssuccessors,assigneesandtransferees(whetherlegalorbeneficialorwhetherbyabsoluteassignmentorbywayofnovationorbywayofsecurityonly).
“You”meanstheperson(s)namedastheBorrowerintheMortgageandeachsuchperson’sexecutors,personalrepresentatives,successors,assigneesandtransferees.
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INTERPRETATION
IntheMortgage:
(a) ReferencetoanyActofParliamentorotherlegislationisareferencetothatActorlegislationasfromtimetotimeamendedorre-enacted;
(b) Referencetoadocumentistothatdocumentasamended,substitutedorreplacedfromtimetotime;
(c) Thesingularincludesthepluralandviceversa;and
(d) Ifthereismorethanoneofyou,then:
(i) theConditionsapplytoallofyoutogetherandtoeachofyouonyourown.ThismeansthateachofyouisfullyresponsibleforcomplyingwithalloftheConditions;and
(ii) referencesto“you”intheConditionsaretoeitheroranyorallofyou,asthecontextrequires.
(e) WhereyoumustgetourapprovalandconsentundertheseConditionsbeforedoingsomething,wewillnotunreasonablywithholdordelaysuchapproval(itisreasonableforustorefusetoapprovesomethingwereasonablythinkmaymakeitlesslikelyyoucanrepayus,becauseitmaynegativelyaffectoursecurityorthevalueofthePropertyorhavesomeothernegativeimpactonusinrelationtotheLoanAmount).
(f) Ifwehavethepowertorequiresomethingthen,unlessotherwisespecified,wewillnotrequireitunlessitisreasonableforustodoso.Itwillbereasonableforustodosoif,forexample,inourreasonableopinionitwillormightassistinthepreservationofoursecurityorthevalueoftheProperty.
1. AGREEMENT TO PAY
1.1 Youagreeasfollows:
(a) YoushallpaytoustheMonthlyPaymentoneachInterestPaymentDayuntiltheSecuredAmountshavebeenrepaidinfull;
(b) EachMonthlyPaymentmustbemadebyyoutousbydirectdebitfromacurrentaccountmaintainedbyyouatabankorbuildingsociety.Wemayconsideracceptinganotherformofpaymentfromyou,althoughanadditionaladministrationfeemaybechargedinthosecircumstances.Ifanydirectdebitpaymentisrefusedorrecalledbyyourbankorbuildingsociety,thenweshallchargeyouanadministrationfeeforeachunsuccessfulapplicationforpayment.TheamountofsuchadministrationfeeshallbedeterminedinaccordancewiththethencurrentTariffofChargesandshallbepayablebyyouondemand;
(c) IfanyMonthlyPaymentoranyothersumdueundertheMortgageisnotpaidontheduedate,itshallbearinterestattheInterestRateinrespectoftheperiodcommencingonthedateitbecamedueandpayableandendingonthedateonwhichitisactuallypaid.Inaddition,anadministrationfeemaybepayableifaMonthlyPaymentisoverdueasspecifiedinthethencurrentTariffofCharges.IfyoudonotpayanyMonthlyPaymentwhenitisdue,thenextMonthlyPaymentreceivedbyuswillbeappliedtopaytheoldestunpaidMonthlyPaymentduetous.
1.2 Youalsoagree:
(a) TopaytoustheSecuredAmountsandinparticulartopaytous(togetherwhereapplicablewithinterestoneachandeverysuchsum)eachandeverysumtobepaidpursuanttotheConditionsandeachandeverysumtobepaidpursuanttotheMortgageOffer(inaccordancewiththetermsandatthetimesandinthemannerspecifiedintheMortgageOffer);
(b) ThatifonasaleorotherrealisationbyusofoursecurityovertheProperty,thenetproceedsareinsufficienttopaytheSecuredAmountsduetous,youwillpromptlypaytheamountofthatshortfallwithinterestattheInterestRate(bothafterandbeforeanycourtdecree)untilalloftheSecuredAmountsarepaidinfull;
(c) ThewholeoftheSecuredAmountsshallbeimmediatelydueandpayableinfull,withoutdemand,ifanyoftheeventsorcircumstancessetoutinCondition8occurs;
(d) Wemayatanytimeortimesinourabsolutediscretion(butshallnotbeobligedto):(i) acceptpaymentsotherthanthosepayableundertheConditionsortheMortgageOffer;(ii) returnanypaymentsorgivefurthertimeforthepaymentofanyoftheSecuredAmounts;and
Page Three
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(iii) generallymakeanyotherarrangementsastothemannerortimeforpaymentofanymoney(whetherprincipal,interestorotherwise),andnoneofthesethingsshallinanyway:
(iv) prejudiceoraffectourpowertosellthePropertyoranyofourotherpowers;or(v) makeusliablefortheexerciseofanysuchpowerinanycasewherewewouldnothavebeenliableifthe
paymentorarrangementhadnotbeenmade;or(vi) release,orinanywayaffect,orlessen,yourliability.
1.3 YoushallpayinteresttousontheLoanAmount(lessanyamountspecifiedbyusintheMortgageOfferasaretention)from and including the Issue DatetothedateofpaymentinfulloftheLoanAmount.InterestshallbepayableonanyamountoftheLoanAmountspecifiedintheMortgageOfferasaretentionfromthedateonwhichitissentbyustoyouoryoursolicitorsoranyotherpartyspecifiedbyyou.InterestshallaccrueattheInterestRateonadailybasisandshallbepaidonallSecuredAmountswhicharenotpaidontheduedate.
1.4 YoushallpaytousCostsintheamountsetoutintheTariffofChargeswhichmaybevariedinaccordancewiththecircumstancesasdescribedinCondition7.
1.5 YoushallmakeeachpaymentdueundertheMortgagepromptlyandinfull.IfyoufailtopayanamountthatyouareobligedtopayyoumayincurinterestonanysuchamountsassetoutinCondition1.1(c).Allpaymentqueriesshouldbereferredtoourmortgageadministrationdepartmentassoonaspracticable.
1.6 WereservetherightnottoacceptanypaymentsfromyouundertheMortgageifwereasonablybelievethattheremaybefraudulentactivityorotherfinancialcrimeaffectingtheMortgage.
2. THE INTEREST RATE
2.1 TheMortgageOfferspecifiestheInterestRateapplicabletotheMortgageatthedateoftheMortgageOffer.
2.2 AchangeintheInterestRatewillresultinachangeintheMonthlyPaymentbythesecondInterestPaymentDayfollowingthechangeintheInterestRate.WeshallnotifyyouinwritingofchangesintheInterestRateandintheMonthlyPayments.
2A ChangestotheStandardVariableRate
2A.1 IftheInterestRateisourStandardVariableRatewemayvaryitatanytime(includingbeforeanyLoanAmountisreleased),forthefollowingreasons:
(a) totakeaccount,inaproportionatemanner,ofachangewhichhasoccurred,orwhichwereasonablyexpecttooccur,intheBankofEnglandBaseRate;
(b) totakeaccount,inaproportionatemanner,ofchangeswhichhaveoccurred,orwereasonablyexpecttooccur,inthecosttousofraisingmoneywelendtoourmortgagecustomers;
(c) totakeaccount,inaproportionatemanner,ofachangewhichhasoccurred,orwhichwereasonablyexpecttooccur,intheinterestrateschargedbyothermortgagelenderswhichweregardasbeingcomparabletous;
(d) totakeaccount,inaproportionatemanner,ofanychangesinrelevantlaws,codesofpracticeorregulations;and
(e) totakeaccount,inaproportionatemanner,ofanydecision,requirement,orrecommendationbyacourt,ombudsman,regulatororsimilarbody.
2B ChangestotheLiborlinkedrate
2B.1 IftheInterestRateislinkedtoLibor,theInterestRatewillbethehigherof:
(a) theLiborrateandtheratespecifiedintheMortgageOfferasthemargin(theMargin);and
(b) anyratespecifiedintheMortgageOfferasthefloor(theFloor).
2B.2 YoushouldbeawarethatasaresultofthecalculationinCondition2B.1,theInterestRate,eventhoughexpressedtobelinkedtotheLiborrate,maybesubjecttoaFloor.IfandforsolongasthetotaloftheactualLiborrateandtheMarginislessthanorfallstolessthananyFloor,thentheInterestRatewillbeequaltotheFloor.
2B.3 TheInterestRatewillbere-calculatedoneachRecalculationDate.
2C Changestobaseratelinkedrate
2C.1 IftheInterestRateislinkedtotheBankofEnglandBaseRate,theInterestRatewillbethehigherof:
(a) theBankofEnglandBaseRateandtheratespecifiedintheMortgageOfferasthemargin(theMargin);and
(b) anyratespecifiedintheMortgageOfferasthefloor(theFloor).
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2C.2 YoushouldbeawarethatasaresultofthecalculationinCondition2C.1,theInterestRate,eventhoughexpressedtobelinkedtotheBankofEnglandBaseRatemaybesubjecttoaFloor.IfandforsolongasthetotaloftheactualBankofEnglandBaseRateandtheMarginislessthanorfallstolessthananyFloor,thentheInterestRatewillbeequaltotheFloor.
2C.3 TheInterestRatewillbere-calculatedoneachRecalculationDate.
3. MONTHLY PAYMENTS
3.1 TheLoanAmount,interestandothersumspayabletousbyyouaretobepaidbyMonthlyPayments.AMonthlyPaymentshallbepaidoneachInterestPaymentDayandshallprovidefor:
(a) paymentofinterest;and
(b) paymentofothersumsduetous.
HowevertheamountofaccruedinterestwhichisdueandpayableinamonthmaybemoreorlessthantheamountofinterestthatisincludedintheMonthlyPaymentforthatmonth.
3.2 TheamountoftheMonthlyPaymentswillbeadjustedtotakeaccountofanychangestotheInterestRatebythesecondInterestPaymentDayfollowingthechangeintheInterestRate.InadditiontheamountoftheMonthlyPaymentmaybeincreasedorreducedatanytimeduringthetermoftheMortgagesoastotakeintoaccountanyadditionalamountwhichwemayrequiretobepaidtousinrespectofafurtheradvancemadetoyoubyussubjecttotheConditionsorsoastotakeintoaccountanyotheradjustmenttotheSecuredAmountsasisreasonablycontemplatedundertheseMortgageConditionsorifanychargesorfeesarepayable.
3.3 Ifwearesatisfiedatanytimethatyouareentitledtotaxreliefoninterestpayments,wemaynotifyyouinwritingofthenetamountpayable,takingintoaccountthetaxreliefdue.Thisamountmaychangefromtimetotimeif,amongotherthings,therateoftaxreliefchanges.
3.4 TheMonthlyPaymentmaybevariedbyusatanytimesoastobringittothenearestcompletesumof£1.00abovetheamountatwhichitstandsorwouldstandifcalculatedprecisely.
3.5 Fortheavoidanceofdoubtandwithoutprejudicetoanyofourotherrightsorremedieswemay,atouroptionbutwithpriorreasonablenoticetoyou,increasetheMonthlyPaymenttoprovideforincreasedrepaymentofcapitalthroughoutthetermoftheMortgageifwereasonablyconsiderthattheremaybenoorinsufficientfundsfortherepaymentoftheSecuredAmountsattheendofthetermoftheMortgage.
3.6 WewillgiveyouwrittennoticeofanychangeintheMonthlyPaymentorifanychargesorfeesarepayable.Ifyouarepayingbydirectdebit,noticeofachangeintheamountwhichwemaycollectunderthedirectdebitmandatewillbedeemedtobeawrittennoticeforthepurposeofthisCondition.
3.7 WhenyouredeemandrepayalloftheSecuredAmounts,yourlastMonthlyPaymentmadebeforeredemptionmaynotbeaclearedpaymentanditwillnotbeincludedinthecalculationoftheamountoftheSecuredAmountsoutstandingasatredemption.However,anamountequaltothatMonthlyRepaymentwillbereturnedtoyou10daysafteryourredemptionoftheMortgageifwearesatisfiedthatsuchMonthlyRepaymenthasbeenclearedandreceivedbyus.
3.8 Wehavetherighttochange:
(a) ourproceduresforcharginginterest,
(b) ourprocedureforcalculatingMonthlyPayments,
(c) theInterestPaymentDay,or
(d) theRecalculationDate
whereitisreasonabletodosoatanytimeforanyofthefollowingreasons:
a) totakeaccountofchangesintechnology;
b) totakeaccount,inaproportionatemanner,oftherequirementsof,orrecommendationsmadeby,theFinancialConductAuthorityoranyotherbodyresponsibleforregulatingourbusiness;or
c) ifitisnecessaryorprudentforustodosotooperateordevelopourbusiness.
Wewill,wherepracticable,giveyou3monthswrittennoticeofanyoftheabovechangesbeforetheycomeintoeffect.
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4. EARLY REPAYMENT
4.1 SecuredAmountsmayberepaidinwholeorinpartonanyBusinessDayeitherbyyou,atyour,discretion,orbyuswhenweexerciseourpowerofsaleunderCondition8.SuchSecuredAmountsmayberepaidprovidedthatyoupaytousanyapplicablechargeorfeesetoutineithertheMortgageOfferorourthenTariffofCharges.
4.2 SubjecttoCondition4.3,youmaymakeearlyrepaymentofpartoftheSecuredAmountsandifthepartrepaymentisof£1,000ormore,wewillrecalculateyourMonthlyPayment.
4.3 If:
(a) theamountyoupaytousonanyInterestPaymentDayexceedstheamountofyourMonthlyPaymentoflessthan£1,000or
(b) youmakeearlyrepaymentofonlypartoftheSecuredAmountsoflessthan£1,000.
WewillnotrecalculateyourMonthlyPaymentuntilyourMonthlyPaymentnextchangesasaresultofachangetotheInterestRate.
4.4 WeshallapplyallrepaymentsmadeunderthisCondition4,toreducetheLoanAmountontheBusinessDaythatwereceivethemonies,orifapaymentismadebychequeafterwehavereceivedconfirmationofclearedfunds.AdeductionwillbemadeforanyfeeorchargepayablebyyouassetoutintheMortgageOfferorourthenTariffofCharges.
5. YOUR OBLIGATIONS
5.1 Youagreethatyouwillnotdoanyofthefollowingwithout our prior written consent:
(a) CreateorallowtoexistanystandardsecurityoranyotherSecurityInterestupontheProperty;
(b) TransferorconveyalloranypartofthePropertytoanyperson(otherthanyou);
(c) AllowanyoneelsetoacquireanyrightsovertheProperty,grantanyleaseortenancyoftheProperty,giveanypersonanycontractualorotherlicenceorrighttooccupytheProperty,acceptthesurrenderofanyleaseorsharethePropertywithanyoneelse;
(d) DoorfailtodoonthePropertyanythingwhichwouldcontraveneanylegislationinforcerelatingtotownandcountryplanningorenvironmentallaws;
(e) UsethePropertyexceptasasingleprivatedwellinghouseandasyourprivateresidenceunlesswehavealreadygivenpermissionforanalternativeuseforthePropertyintheMortgageOffer;
(f) Applyfororobtainanimprovementgrantorothersimilargrant,makeanystructuralalterationsoradditionstothePropertyordemolishorremoveanythingwhichisintendedtoformpartoftheProperty,excepttoreplaceitwithsomethingsimilarofthesameorgreatervalue;
(g) Do,orfailtodo,orallowanythingtobedone,ornottobedone,whichmayresultinthePropertybecomingsubjecttoanystatutoryorotherlegalrightwhichmaybindus;
(h) Negotiate, waive or settleanyclaimforcompensation(whetherpayableunderanyenactmentorotherwise)inrespectofthecompulsory acquisition,lossof,damageto,orreductioninvalueoftheProperty;
(i) Close the current accountmaintainedbyyoufromwhichMonthlyPaymentsaremadeoralterthedirectdebitmandatetothebankorbuildingsocietyatwhichsuchaccountismaintainedormakeanyotheralterationstothemethodofpaymentagreedwithus;
(j) DoorfailtodoanythingwhichmightresultinthePropertybeingdamagedorreducedinvalueorallowanythingwhichmightdamagethePropertyorreduceitsvalue.
5.2 Youfurtheragreethatyouwilldoallofthefollowing:
(a) Promptly notify us in writingifandwhenevertheProperty shall be left vacantforaperiodexceeding28days;
(b) Promptly notify us in writingofanynoticeorinformationreceivedbyyouconcerninganyproposalforthecompulsory acquisitionofthePropertyoranypartofit,oranyothermatterwhichmightadverselyaffectthevalueofthePropertyincluding,withoutlimitation,anyplanningapplicationand(atyourcost)totakeanyactionregardingthesameaswemayreasonablyrequire;
(c) Keep the Property in good and substantial repair and conditionandgooddecorativeorderandkeepthegardens(ifany)ingoodorderandproperlycultivated;
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(d) Perform and observe all title conditions, stipulations, regulations and agreementsaffectingtheProperty,includinganyobligationsunderanylease,licenceorotherdocumentunderwhichthePropertyisheldorused;
(e) Comply with all statutory and other requirementsofallcompetentauthoritieswhichaffectorrelatetothePropertyandprovidewrittenevidenceofsuchcompliancetousonrequest;
(f) Punctuallypay all taxes, rates, rents and outgoings assessed or payable on the PropertyorbytheowneroroccupierofthePropertyandtodischargeallliabilitieswhichrankormaycometorankinprioritytothesecuritycontainedintheMortgage;
(g) Allow us(andanypersonsauthorisedbyus)tohaveaccess to the PropertyatallreasonabletimesandafterreasonablenoticetocarryoutanysurveyorinspectionwhichwemayreasonablydecidetobenecessaryandtodoanyworkwhichyouhavefailedtodoinaccordancewithyourobligationsundertheConditions;
(h) WherewehaveretainedanyoftheLoanAmountuntil you complete specified workstotheProperty,carryoutandcompletethoseworkswithinsixmonthsoftheIssueDatetothereasonablesatisfactionofoursurveyorandtopayhisreasonablere-inspectionfee(ifany);
(i) (IfthePropertyisheldunderalonglease)grantastandardsecuritytous(insuchformasweshallreasonablyrequire)overanysuperiorleaseorthelandlord’sinterestoranyextensionorrenewaloftheleaseterminthePropertywhichyoumayacquireafterthedateofthisMortgage;and
(j) Wherethereismorethanoneborrower,promptlynotifyusinwritingifanyoneofyoudies.
If you fail to observe or punctually to perform any of your obligations under the Mortgage, we shall have power on your behalf or otherwise to perform any or all of those obligations and to take any steps which we may reasonably think necessary to remedy the failure. However, the exercise of that power or the failure to exercise it shall in no circumstances prejudice our rights under the terms of the Mortgage and our waiver of any breach of the Conditions or of the Mortgage shall not prevent the subsequent enforcement of any of them and shall not be deemed a waiver of any subsequent breach.
6. INSURANCE
6.1 Youfurtheragree(butsubjecttoCondition6.5below)to keep the Property insured to its full rebuilding cost(whichshallbenotlessthantheamountdeterminedbyus)underapolicywhichshall:
(a) includeprovisionforadjustmentofthesuminsuredatleastannuallyandinaccordancewiththepublishedalterationsintheHouseRebuildingCostIndexpreparedbytheRoyalInstitutionofCharteredSurveyorsorsuchotherindexasweshallreasonablyapprove;
(b) includeprovisionforarchitects’andsurveyors’feesandcostsofdemolitionanddebrisremoval;
(c) provideinsurancewithinsurersapprovedbyus,ourapprovalnottobeunreasonablywithheld;
(d) providecoveragainst loss or damage by fire, storm or flood, burst pipes, lightning, explosion, riot, civil commotion, malicious damage, impact by aircraft other aerial devices or articles dropped from aircraft, or by any road vehicle, train, animal or falling tree, earthquake, subsidence, heave and landslip and such additional or other risks as we may from time to time reasonably specify;and
(e) ineverycasewithourinterestnotedontherelevantpolicy.
6.2 You shall promptly pay all premiums and other sums payableinrespectofallinsurancesrequiredundertheConditionsandshalldelivertousalloranyofthepolicies.Ondemand,youshallproducethereceiptsforthelastpremiumspayableorshallprovideotherevidencesatisfactorytousastothetermsofinsuranceandthepaymentofpremiums.
6.3 Youshallnotdo,permittobedoneorfailtodoanythingonthePropertywhichmayprejudiciallyaffecttheinsuranceofthePropertyorwhichmayincreasethepremiumpayableinrelationtosuchinsurance.
6.4 You shall hold any monies receivedbyyouinrespectofanyinsuranceoftheProperty(whethermaintainedundertheConditionsornot)ontrusttoapplythosemonies:
(i) inreplacingorrepairingthePropertyinrespectofwhichthemonieswerereceived;or
(ii) ifanyoftheSecuredAmountshavebecomedue,inortowardsdischargingthoseSecuredAmounts.
6.5 Totheextentthat,intermsofthetitleunderwhichthePropertyisheld,anotherpartyhasagreedwithyou:
(a) toinsurethePropertyagainstalloranyoftherisksmentionedinCondition6.1,forthefullrebuildingcostoftheProperty;and
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(b) toapplytheinsurancemoniesinortowardsmakinggoodthelossordamageinrespectofwhichsuchmoniesarereceived;
andprovidedthat:
(c) anoteoftheinterestsofyouandusasheritablecreditorhasbeenendorsedontherelevantpolicy;and
(d) youproducetouswhensorequestedthepolicyofsuchinsurance,oracertifiedcopy,orfullandsufficientdetailsofthepolicyandfromtimetotimeevidenceofthepaymentofthecurrentpremiumpayable,wewillacceptsuchpolicyassatisfying,or(asthecasemaybe)partiallysatisfying,yourobligationsastoinsurancecontainedinCondition6.1.
7. FEES AND EXPENSES
7.1 Youfurtheragreeon demand to pay all Costsby,orchargedto,usinconnectionwiththeMortgageincluding,butnotlimitedto,allreasonablecosts,fees,chargesandexpenses(includinglegalfees,administrationcosts,additionalfundingcostsandanytaxonthese)paidorincurredby,orchargedto,usinconnectionwiththeMortgageincluding(butnotlimitedto)theexamplesgiveninCondition7.2.
7.2
(a) WhereCostsarisebecauseyouaskustoprovideadocumentorserviceinconnectionwiththeMortgage,whethertoyouoranyoneelse,theamountoftheCostwechargeyouwillbeassetoutfromtimetotimeinourTariffofCharges.Examplesofactivitieswemaychargeforunderthisparagraphinclude(butarenotlimitedto):
• supplyingorcopyingdeedsordocumentstoyouoranyoneactingforyou;
• dischargingtheMortgage;
• releasingthePropertyortheRelatedRights(asdefinedinCondition15.1)fromoursecurity;
• releasinganytitledeeds;
• processingyourapplicationforanyfurtheradvanceandforanychangeinthetermsoftheMortgageOffer;
• givingyouanyassistanceorinformationinconnectionwiththeProperty,theMortgageOfferortheMortgage.
(b) WhereweincuraCosttosafeguardoursecurityorbecauseyoufailtofulfillanobligationyouhaveundertheMortgageOfferortheMortgageyoumustpayusallreasonableCostswhichwereasonablyincurtoprotectourpositionorasaresultofyourfailure.Whereweareabletomakeagenuinepre-estimateoftheexpenseswearelikelytoincur,theamountoftheCostwewillchargewillbesetoutfromtimetotimeinourTariffofChargesandwillbelimitedtothisamountbutotherwisewillbeunlimitedinamount.Examplesofactivitiesforwhichwemaymakeachargeunderthisparagraphinclude(butarenotlimitedto):
• anylegalproceedingsrelatingtotheMortgage(thisapplieswhetherornotyouareapartytotheproceedings);
• exercisinganyoftherightsorpowersgiventousbystatuteortheConditions;
• recoveringanyoftheSecuredAmounts;
• protectingorpreservingoursecurity;
• checkingthatanyinsuranceofthePropertythatyouhavearrangedisadequateforourpurposes;
• insuringthePropertywhereyouhaveaskedustodosoorfailedtodosoinbreachofyourobligationundertheMortgage.
7.3 TheamountspayableunderCondition7.2shallcarryinterestattheInterestRatefromthedateonwhichtheyarepaid,incurredorchargedbyortousuntilthedateofpaymentbyyou.
7.4 WecanatanytimevaryoraddtotheCostssetoutinourTariffofChargesifitistoyouradvantage(forexampleifwereduceorabolishanyCost)orforanyoneormoreofthefollowingreasons(whichmayrelatetocircumstancesexistingatthetimeorthosewhichwereasonablyexpecttoapplyinthenearfuture):
(a) totakeaccount,inaproportionatemanner,ofreasonablechangestoourcostsinprovidingtheserviceforwhichtheCostismade;
(b) totakeaccount,inaproportionatemanner,ofanychangesinrelevantlaws,codesofpracticeorregulationsortotakeaccountofanydecision,requirementorrecommendationbyacourt,ombudsmanorregulator;
(c) totakeaccountof,inaproportionatemanner,inflation;
(d) totakeaccountof,inaproportionatemanner,theadditionalcostofanychangestoorimprovementswemaketotheservicesorfacilitieswealreadyprovidetoourmortgagecustomers,includingtechnologicalchange;
(e) totakeaccountof,inaproportionatemanner,changeswemayreasonablymakeintheactivitieswecarryoutortocarryoutnewactivities;
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(f) wherewereasonablyconsiderachangetobefairertoourcustomersortocorrecterror;
(g) tomaintainthefinancialstrengthofourbusinessintheinterestsofallourcustomers;
(h) byagreementwithyou;
(i) intheeventofusbeingtakenoverby,ormergingwith,anothermortgageprovider,toenableustobringtheCostschargedbybothpartiesinlinewitheachotherinareasonablemanner.
7.5 WehavesentyouacopyofourTariffofChargeswiththeMortgageOffer.YoucanfindoutaboutourcurrentTariffofChargesatanytimebycontactingus,forexample,bytelephoneorlookingonourwebsite.
8. OUR RIGHTS AND REMEDIES - OUR RIGHT TO SELL THE PROPERTY
In addition to the circumstances specified in the Act, you shall be in default in terms of Standard Condition 9(1)(b) and our right to sell the Property and all other remedies under the Mortgage shall be exercisable immediately in any of the following cases:
(a) ifyoufailtopayanamountequaltotwoMonthlyPaymentsdueundertheMortgage;
(b) ifthereisamaterialorpersistentbreachofanyotherConditionoragreementonyourpartandyoushallhavefailedtoremedythatbreachwithinareasonabletimeofusrequiringsuchbreachtoberemedied;
(c) ifyouaresequestratedorabankruptcyorderismadeagainstyou(oranyofyou);
(d) ifyou(oranyofyou)makeavoluntaryarrangementwithorforthebenefitofyour(oranyofyour)creditors;
(e) ifanyonetriestoseizeyour(oranyofyour)assetsunderacourtorder;
(f) ifalandlordtriestoseizeassetsbecauseyou(oranyofyou)havenotpaidrentdueinrespectoftheProperty;
(g) ifthePropertyshallbecompulsorilypurchased;
(h) ifwebecomeawareofanymaterialmisrepresentationin,oranymaterialomissionfrom,anyinformationsuppliedtousinconnectionwiththeMortgage.
(i) ifthereisamaterialbreachonyourpartofanyotheragreement,enteredbetweenyouandus,andyoushallhavefailedtoremedythatbreachwithinareasonabletimeofusrequiringsuchbreachtoberemedied;
(j) uponthedeathoftheborrower(orwherethereismorethanoneborroweruponthedeathofthelastsurvivorofthem)
(k) ifyousurrenderpossessionofthePropertytous.
9. OUR RIGHTS AND REMEDIES - OUR ADDITIONAL POWERS
Our power to sell the Property and our other powers conferred by the Act are extended and varied so that we, at our absolute discretion, are authorised by you:
9.1
(a) tosellthePropertyunderanagreementwherethepurchaserwouldpayallorpartofthepurchasepriceatalaterdateordatesfollowingcompletion(anagreementfordeferredconsideration),whetherornottheagreementissecuredbyaSecurityInterestoraguarantee;
(b) tograntanyoptiontopurchasethePropertyandtoeffectexchangesinrelationtoit;
(c) torepair,replaceanddevelopthePropertywithaviewtosellingthePropertyorofferingitforsaleandtoapplyforanyappropriatepermission,licenceorapprovalinconnectionwithanysuchrepair,replacementordevelopment;
(d) toinsuretheProperty(includingmaintaining,renewingandincreasinginsurances)againstwhateverrisks(inadditiontolossordamagebyfire)andforwhateveramountsaswemayreasonablyconsiderprudentand;
(e) tomanagethePropertyincludingcollectingandreceivingallrents,arranginganynecessaryrepairandmaintenanceoftheProperty,ensuringcompliancewiththelocalauthorityrequirementsandservingnoticesundertherelevanthousinglegislation.
9.2 WeshallnotbeliabletoaccountasheritablecreditorinpossessionifweenterintopossessionoftheProperty.IfandwheneverweenterintopossessionoftheProperty,weshallbeentitledatanytimetogooutofpossession.
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10. OUR RIGHTS AND REMEDIES - POWERS OF LEASING
The powers of leasing and accepting surrenders of leases conferred by Section 20 of the Act (these provisions give us certain rights after we take possession of the Property) are extended and varied to authorise us at any time after our right to enforce the Mortgage has become exercisable:
(a) forsuchconsiderationaswemayreasonablyconsiderappropriateorinrelationtoCondition10(ii)withoutconsideration;
(b) onsuchtermsaswemayreasonablyconsiderappropriate;and
(c) whetherornotweareinpossessionoftheProperty;
to do all or any of the following:
(i) to grant (subject to the provisions of the Act) any lease of the Propertysubjecttoandwiththebenefitofsuchobligations,conditionsandprovisionsandgenerallyuponwhatevertermswemayreasonablythinkappropriate;and
(ii) to accept or agree to accept any surrender of a leaseoftheProperty.
11. RIGHTS AND REMEDIES - YOUR GOODS
11.1 IfwetakepossessionofthePropertyandyouhavenotremovedanyremainingfurnitureorgoodswithinfourteendays,thenweshallhavefullauthorityatyourexpenseandrisktoremove,store,selland/ordisposeofsuchfurnitureorgoodsinsuchmannerandonsuchtermsasweshallreasonablythinkfit.
11.2 NothingcontainedintheMortgageshallgiveusanysecurityorrightsinrespectofanyfurnitureorgoodsasmentionedinCondition11.1ortotheproceedsofsalefromthem.
11.3 WeshallhavenoliabilitywhateverforanylossordamagecausedbyorfollowingtheexerciseorpurportedexerciseoftheauthoritiesspecifiedinthisCondition11,providedthatwewereactingreasonablyandingoodfaithattherelevanttime.
11.4 TheobligationtoreimburseuscontainedinCondition16andgivenbyyoushall(withoutprejudicetothegeneralapplicationofthatCondition)extendtoanyliabilitiesincurredbyusingoodfaithregardingthesale,purportedsale,attemptedsaleordisposalingoodfaithbyusofanysuchfurnitureorgoodsinwhichanyotherpersonhasaninterestorownership.
12. OUR RIGHTS AND REMEDIES – POSSESSION
Youagreethat,ifyouareindefaultandtheSecuredAmountshavebecomedueandpayable,you shall vacate the Property and give us possession of itafterwehavegivenyousevendays’writtennoticerequiringyoutoleavetheProperty.YoufurtheragreethatwemayapplyforacourtorderorwarrantforpossessionofthePropertyinanySheriffCourtintheareainwhichthePropertyissituatedatanytimeaftertheperiodofsevendaysspecifiedinthenotice.
13. TRANSFER OR ASSIGNATION OF THE MORTGAGE
13.1 Wemaytransfer,assignorgrantsecurityoverthebenefitoftheMortgageand/ortheMortgageOfferand/oranySecurityInterestsupplementalorancillarytotheMortgageand/oranyotherrelevantdocumentstoanypersonatanytimeatourabsolutediscretion.
13.2 Inaddition,wemayatanytime,withoutyourconsentandwithoutnoticetoyou,assignalloranyofourrightsandbenefitsand/ortransferalloranyofourrightsandobligationsundertheMortgageorthebeneficialinteresttherein,togetherwithanySecurityInterestsupplementalorancillarytotheMortgage,toanyperson.YourownrightsandobligationsundertheMortgagewillremainunaffected
13.3 Wemay,withoutyourconsentandwithoutnoticetoyou,provideapotentialtransfereeorassigneeoranypersonontheirbehalfwithinformationinrelationtoyou,theMortgageandsuchothermattersasweconsiderappropriate.
13.4 Youagreethatyouwillbeboundtoanytransferee,assigneeorchargeeinthemannerandonthetermsthatyouareboundtousundertheMortgage.
14. PROTECTION OF THIRD PARTIES
Apurchaserfromusoranyotherpersondealingwithuscansafelyassumethatweareactingwithinourpowers.TherightsofapurchaserinrelationtothePropertyshallnotbecapableofchallengebyreferencetotheexerciseofsuchpowers.
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15. RELATED RIGHTS
15.1 InthisCondition15“RelatedRights”means:
15.1.1 anyoptiontopurchasetheheritabletitleorsuperiorleaseoranewlongleaseoftheProperty;
15.1.2 anyrighttoreceivemoneywhichbecomespayableinrespectofthePropertyorfollowinganydamagetoordepreciationofthePropertyincludingmoneypayableforminingsubsidenceorcompulsorypurchase;
15.1.3 anyshareormembershiprightsinaresidents’associationormanagementcompanyrelatingtotheProperty;
15.1.4 allsumspayableunderanydefectivetitleorrestrictivecovenantindemnityinsurancepolicyrelatingtotheProperty;
15.1.5 anyguarantees,warrantiesorinsurancesrelatingtothePropertyincludingguaranteesforworkdonetotheProperty;and
15.1.6 anyotherbenefitorrightofanykindrelatingtothePropertyoritsconstructionortitle.
15.2 AsfurthersecurityforthemoniesandliabilitiessecuredbytheMortgage,byyoursignatureoftheMortgageyouassigntheRelatedRightstousandagreethatwehavethefullpowertogetin,exerciseanddealwithalltheRelatedRightsasifwewereabsolutelyandbeneficiallyentitledtothem.
15.3 AnyproceedsoftheRelatedRights,afterdeductinganycosts,chargesandexpensesincurredbyus,willbeappliedinreducingtheSecuredAmounts,andanysurplusshallbepaidtoyou.
16. AGREEMENT TO REIMBURSE US
16.1 Youagreeasaseparateandindependentagreementondemandtoreimburseusagainstallreasonablecosts,claims,proceedingsandliabilitiesreasonablyincurredbyuswhich:
(a) wemayreasonablyincur,orwhichmaybemadeagainstus,whetherbeforeorafterourpowertosellthePropertyhasbecomeexercisableinconnectionwiththeMortgage;
(b) ariseasaconsequenceofanythingdoneorpurportedtobedoneundertheConditions;
(c) resultfromyoufailingtodoanythingundertheConditions;or
(d) resultfromanypaymentordischargeinrespectoftheSecuredAmounts(whethermadebyyouorathirdperson)beingchallengedordeclaredvoidforanyreasonwhatsoever.
16.2 TheamountspayableunderCondition16.1shallcarryinterestattheInterestRatefromtherespectivedatesonwhichtheywerepaidorincurredbyusuntilpaymentinfullbyyou.
17. FURTHER ASSURANCES AND POWER OF ATTORNEY
17.1 Youagreewithus,notwithstandingthatourpowertosellthePropertymaynothavebecomeexercisable,to promptly execute any documentordoanyactorthingwhichwemayreasonablyspecifyfor:(a) perfectingorimprovinganysecuritycreated,orintendedtobecreated,bytheMortgage;(b) facilitatingtheexerciseortheproposedexerciseofanyofourpowers,ortheprotection,managementorrealisation
oftheProperty;or(c) forthepurposementionedinCondition17.2.
17.2 ForthepurposeofsecuringourinterestintheProperty,youirrevocablyandbywayofsecurityappoint us to be your attorney:(a) withfullpowertoappointsubstitutesandtosub-delegateonyourbehalfandinyourname;and(b) toexecuteanydocumentordoanyactorthingwhichyouareobligedtoexecuteordo:
(i) undertheMortgage;(ii) underanySecurityInterestsupplementalorancillarytotheMortgage;or(iii) whichwe(oroursubstituteordelegate)mayreasonablyconsiderappropriateinconnectionwiththeexerciseof
anyofourpowers.
17.3 Anypersonappointedasoursubstituteordelegateshall,inexercisingthatpowerofattorney,beyouragentandyoushallbetheonlypersonresponsiblefortheactsanddefaultsofthatsubstitutedpersonordelegate.Weshallnotberesponsibleforanymisconduct,negligenceordefaultofthatsubstitutedpersonordelegate.
18. MISCELLANEOUS
18.1 ThesecurityconstitutedbytheMortgage:
(a) shallbeacontinuingsecuritytousnotwithstandinganyintermediatesettlementofaccountorothermatter;and
(b) isinadditiontoandshallnotaffectanyotherSecurityInterest,documentorrightwhichwemaynowormayatanytimeholdorhave(apartfromtheMortgage)asregardsyouoranyotherpersoninrespectoftheSecuredAmounts.
18.2 Weneednottrytoenforceanyothersecurity,guaranteeorrightbeforeseekingorobtainingpaymentundertheMortgage.
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18.3 Therights,remediesandpowersconferredonusundertheMortgagearecumulativeandwithoutprejudicetoourpowersunderthegenerallaw.Theymaybeexercisedasoftenaswethinkappropriate.Awaiverisvalidonlyifitisgivenbyusinwriting.
18.4 Evenifwedelayinexercising,ordonotexercise,anyofourrightsorremediesundertheConditions,wemaystillexerciseanyofourrightsorremedieslater.
18.5 IftheConditionsareinconsistentwiththeMortgageOfferinrespectofanymatter,thenthoseprovisionsoftheMortgageOfferwillapply.
19. GENERAL VARIATION OF CONDITIONS
19.1 SubjecttoConditions2(TheInterestRate),3.8(MonthlyPayments)and7.4(FeesAndExpenses)wemaychangethetermsandconditionswhichapplytoyourMortgageforoneofthefollowingreasonsinordertoreasonablyreflectthefactthatanyofthefollowinghaveoccurredorareabouttooccur,providedthatwedonotdosoforanyarbitraryorimproperpurpose.
(a) Tomakethemeasiertounderstandandfairertoyou;
(b) Totakeaccount,inaproportionatemanner,ofanychangesinrelevantlaws,codesofpracticeorregulationsortotakeaccountofanydecision,requirementorrecommendation,byacourt,ombudsman,regulatororsimilarperson;
(c) Toenableustomakereasonablechangestothewaywelookafteryouraccountsasaresultofchangesin(i)thebankingorfinancialsystem;(ii)technology;(iii)thesystemsweusetorunourmortgagelendingbusiness;or
(d) Foranotherreasonasagreedwithyou.
Wewillgiveyou30daysnoticeofanysuchchangeandtheamendmentshalltakeeffectfromthedatespecifiedinsuchnotice.
20. NOTICES AND COMMUNICATIONS
20.1 Anynoticeorcommunicationtoyoushallbetreatedashavingbeenproperlyserveduponyouifdelivered by hand or if sent by post to the Property(orotheraddressnotifiedtousbyyou).Wherethereismorethanoneofyou,itshallbesufficientifthenoticeisservedon,oraddressedto,anyoneofyou.
20.2 AnoticeordemandunderCondition20.1willbetreatedashavingbeeneffectivelyservedonyou:
(a) ifdeliveredbyhand,atthetimeofdeliveryoratthetimeofbeingleftattheaddressreferredtoinCondition20.1;or
(b) ifsentbyfirst-classpre-paidlettertoanaddressintheUnitedKingdom,attheearlierofthetimeofdeliveryand10.00amonthedayafterposting;or
(c) inanyothercase,72hoursfromthetimeofdespatch.
20.3 Ifyou(oroneofyou)diesanduntilwereceivenoticeinwritingofthegrantofconfirmationtoyourestateorprobateofyourwillorlettersofadministration,anynoticeordemandbyusgivenormadebyanyofthemethodsmentionedinthisConditionshallbetreatedashavingbeenproperlygivenormadebyustooronyouandtooronyourexecutorsorpersonalrepresentativesasifyouwerestillliving.
21. MANAGEMENT COMPANY
21.1 IfthePropertyisheldbyyouunderalongleasewhichrequiresthelesseetobeamemberofamanagementcompany,youshalldepositwithusyoursharecertificateorothercertificateofmembershipofthemanagementcompany.Youirrevocablyandbywayofsecurityappointusasyourattorneyandinyournametoexecuteatransferofsuchshareormembershiptoanypersontowhomwemayconvey,transferorassignthePropertyunderourpowersundertheConditions.
22. REPAYMENT BY US
If:
(a) wereceivepaymentofanyoftheSecuredAmountsfromyouoranyotherperson;and
(b) wearelaterorderedunderanyinsolvencylawtorestorethepositiontowhatitwouldhavebeenifwehadnotreceivedthatpayment,youwillbeliableasifwehadneverreceivedthatpayment.
23. PARTIAL INVALIDITY
EachoftheConditionsmaybeseparatedfromeachotherCondition.IfatanytimeanyConditionbecomesillegal,invalidorunenforceable,thiswillnotaffectanyoftheotherConditions.
24. STANDARD CONDITIONS
StandardConditions1to6(inclusive)and12shallnotapplytotheMortgage.
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25. LAW
TheapplicablelawofthisDeedisScotslaw.
26. INDEPENDENT LEGAL ADVICE
IfyouhaveanyqueriesaboutanyoftheseConditionsyoushouldseekindependentlegaladvice.
27. FLEXIBLE MORTGAGES
IfyourMortgageOfferspecifiesthatunderpayments,paymentholidaysandoverpaymentsareavailableandthatdetailedrulesontheuseofthosefeaturesaresetoutintheMortgageConditionsthenthePlatformFlexibleMortgageConditionscontainedinAppendixAtothisdeedshallapplytotheMortgage.
INWITNESSWHEREOFthesepresentsconsistingofthisandtheprecedingtwelvepagesaresubscribedforandonbehalfofusthesaidTheCo-operativeBankp.l.c.byDavidHennessey,AssistantCompanySecretary,anddulyauthorisedbyustoactinthatbehalf,atMillerStreetTower,MillerStreet,Manchesteron19JanuaryTwoThousandandSixteenbeforethiswitnessLisaHartshornofMillerStreetTower,MillerStreet,Manchester.
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APPENDIX A
PlatformFlexibleMortgageConditions
1 Flexible Options
1.1 IfyourMortgageOfferspecifiesthatallthefollowingareavailable:
(a) underpayments;
(b) paymentholidays;and
(c) overpayments
(allofwhichwerefertoasflexibleoptions)thenthesePlatformFlexibleMortgageConditionsshallapplytoyourMortgageandthoseflexibleoptions.The flexible options are not available unless your Mortgage Offer specifies that they are and if they are not available the remainder of these Platform Flexible Mortgage Conditions will not apply.
1.2 Theseflexibleoptionsshallnotapplytoanyfurtheradvance.
1.3 Beforeyoucanexerciseaflexibleoption(otherthananoverpayment)youmusthavemadesixconsecutivemonthsfullMonthlyPaymentssincethemortgagecommenced.
1.4 Toexerciseaflexibleoption(otherthananoverpayment)youmustsubmitacompletedFlexibleOptionsRequestFormatleast14daysbeforeyourequiretheunderpayments/paymentholidaytocommence.SubjecttoConditions1.3and5wewillcomplywithyourrequest.
1.5 WheretherearejointBorrowersyoumustallrequesttheexerciseoftheflexibleoptionandallandeachofyouwillbeliableinfullforallindebtednessarisingastheresultofthetakeupofanyoftheflexibleoptions.
2 Overpayment Fund
2.1 UnderthisFlexibleMortgageyouhaveanOverpaymentFund.Thisisthemaximumamountwearepreparedtoallowyoutounderpay(whetherthatunderpaymentisasaresultofapaymentholidayorunderpayment).
2.2 TheOverpaymentFundatanytimeisequaltothetotalofyouroverpayments(beingthetotalamountyouhavepaidoverandaboveyourcontractualMonthlyPaymentincludinganyearlyrepaymentchargeyouhavepaidlessthetotalamountyouhaveunderpaidandanyearlyrepaymentchargedebitedtoyouraccount).
2.3 WemayreduceorwithdrawyourOverpaymentFundatanytimeforthereasonssetoutinCondition5.
2.4 IfyoumovehouseandarrangeanewPlatformmortgageforthenewpropertyontheseproducttermsyouwillnotbeabletotakeanyexistingOverpaymentFundwithyoutothenewmortgageandatthestartofthenewmortgagetheOverpaymentFundwillbe£0.
3 Payment Holidays and Underpayments
3.1 SubjecttoCondition1.3youmayapplytodeferoneormoreMonthlyPayments,ortomakeoneormoreunderpaymentsof£50ormoreatanytime.Wewillwritetoconfirmwhetheryourapplicationhasbeensuccessfulandifitiswhenthepaymentholidays/underpaymentsmaycommencefrom.Ifyourapplicationisunsuccessfulwewillwritetotellyouthisandexplainwhy.
3.2 AmaximumofsixMonthlyPayments/underpaymentsmaybemissed/madeinanyperiodoftwelveconsecutivemonths.
3.3 WhenyourrequestforapaymentholidayorunderpaymentsisacceptedyourdirectdebitMonthlyPaymentwillbesuspendedoramendedfortheperiodofthepaymentholiday/underpaymentandreactivatedwhenthepaymentholidayorunderpaymentperiodends.
3.4 AlthoughtheobligationtomakeMonthlyPaymentsissuspendedorreducedduringtheperiodofthepaymentholiday/underpayments,interestcontinuestoaccrueontheSecuredAmounts.ThisaccruedinterestwillbeaddedmonthlytotheSecuredAmountsandtheMonthlyPaymentswhentheyrecommencearelikelytobegreaterthanbeforethepaymentholiday/underpaymentsweretaken.Wewilladviseyoubeforetheendofthepaymentholiday/underpaymentoftheexpectedMonthlyPayment,whichwillapplyattheendofthepaymentholidayorunderpaymentperiod.
4 Overpayments and Early Repayment Charges on them
4.1 Overpaymentsofanyamountmaybemade.Thereisnominimumamount.
4.2 Overpaymentsmaybepaidbycheque,debitcardorbankgirocreditatanytime,or,inthecaseofregularoverpaymentsyoucanarrangetopaybyDirectDebitwhichwillbecollectedaspartofyournormalMonthlyPaymentorbyStandingOrder.IfyouaremakingregularoverpaymentsbyDirectDebityoucanchoosetopayafixedsumeachmonthirrespectiveofyournormalMonthlyPayment,orafixedamountinadditiontoyournormalMonthlyPayment.
WheretheeffectofoverpaymentswouldotherwisebetorepaytheSecuredAmountswithinthetermofyourMortgageyoumayatanytimeaskustorecalculateandreducetheMonthlyPaymentsothattheSecuredAmountsarerepaidattheendofthetermoftheMortgage.WewillalsorecalculateyourMonthlyPaymenttotakeaccountofanyoverpaymentattheendoftheAccountYear(oneyearfromandincludingtheIssueDateandeachsuccessiveperiodofoneyear),wheneverwechangeaMonthlyPaymentfollowingachangetotheInterestRateoriftheamountofanoverpaymentisfor£1,000ormore.
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4.3 Overpaymentstoyourmortgageaccountcanbemadeusinganyofthefollowing:
(a) Sendachequemadepayabletousre(insertyourname).Pleaseensurethatyouquoteyourmortgagereferencenumberonthereverseofthecheque.
(b) ArrangewithusforyourDirectDebittobeincreasedforanagreedperiod.
(c) ArrangewithyourBankorBuildingSocietytomakearegularpaymentbyStandingOrder.
(d) ArrangeforextrafundstobetransferredtoyourmortgageaccountbyBACS/CHAPS.
(e) Arrangewithusforapaymenttobemadetoyourmortgageaccountbydebitcard.
4.4 YouwillhavetopayanearlyrepaymentchargeattheendofanAccountYeariftheperiodoftimeforwhichanearlyrepaymentchargeispayable(the“earlyrepaymentchargeperiod”)expiresonoraftertheendofthatAccountYearandyouhavemadeoverpayments,duringtheAccountYear,inexcessof£12,000or10%oftheLoanAmountatthestartoftheAccountYear(whicheveristhehigher).Theearlyrepaymentchargewillbecalculatedontheamountofoverpaymentsinexcessofthatamountattheratewehaveagreed.
4.5 Youwillhavetopayanearlyrepaymentchargeattheendoftheearlyrepaymentchargeperiodif,sincethestartoftheAccountYearinwhichtheoverpaymentsaremade,youhavemadeoverpaymentsinexcessof£12,000or10%oftheLoanAmountatthestartofthatAccountYear(whicheveristhehigher).Theearlyrepaymentchargewillbecalculatedontheamountofoverpaymentsinexcessofthatamountattheratewehaveagreed.IftheearlyrepaymentchargeperiodexpiresattheendofanAccountYear,anyearlyrepaymentchargewillbepayableunderCondition4.4only,notthisCondition4.5
4.6 YouwillhavetopayanearlyrepaymentchargewhenyourepaytheLoanAmountinfullifyourepayitduringtheearlyrepaymentchargeperiod.YouwillhavetopaytheearlyrepaymentchargeattheratewehaveagreedonthefullamountoftheLoanAmountyourepayonthatdayandonanyamountoverpaidbeforethatday,sincethestartoftheAccountYearduringwhichthatrepaymentismade,inexcessof£12,000or10%oftheLoanAmountatthestartofthatAccountYear(whicheveristhehigher).IfyourepaytheLoanAmountinfullduringtheearlyrepaymentchargeperiod,anyearlyrepaymentchargepayablesincethestartoftheAccountYearinwhichthatrepaymentismadewillbepayableunderthisCondition4.6only,notConditions4.4or4.5.
4.7 ForthepurposesofConditions4.4,4.5and4.6,overpaymentsarecalculatedinaccordancewithCondition2.2
5 Withdrawal of Flexible Options and Overpayment Fund
5.1 Wemayrefuseyourapplicationtoexerciseaflexibleoptionif:
(a) theOverpaymentFundislessthantheamountyouwishtounderpay;
(b) wereasonablyconsiderthatyoumaynotmakeormaynotbeabletomaketheMonthlyPaymentsattheendofthepaymentholidayortheperiodofunderpayments.
5.2 Wemayatanytimerefuseyourapplicationtoexerciseaflexibleoption,withdrawyourrighttoexerciseanyoralloftheflexibleoptions(otherthanoverpayments)and/orreduceorwithdrawyourOverpaymentFundif:-
(a) therearearrearsonanyofyourmortgageaccountswithusortherehavebeenarrearsonanyoftheseaccountsduringtheprevioussixmonths;
(b) youarereceivinganypaymentsintendedtocoveryourMortgagePayments(orpartofthem)whetherunderaninsurancepolicyinrespectofaccident,sicknessorunemployment,orfromtheDepartmentofWorkandPensionsorotherwise;
(c) abankruptcyorsequestrationorderismadeagainstyouoryoubecomeapparentlyinsolventormakeorproposeanycompositionorarrangementwithorforthebenefitofyourcreditorsgenerally;
(d) youareinbreachofamaterialMortgageCondition,FlexibleMortgageConditionorSpecialConditionwhichappliestotheSecuredAmounts;
(e) weconsideritnecessaryinordertomeettherequirementsof,orrecommendationsmadeby,theFinancialConductAuthorityoranyotherbodyresponsibleforregulatingourbusiness.
IfweexerciseourrightsunderthisCondition5.2wewillwritetoyouwithin7daysinformingyouthatwehavedonesoandofyournewOverpaymentFund(ifany).
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MKT1221501/2016
The Co-operative Bank p.l.c. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (No. 121885). The Co-operative Bank, Platform, smile and Britannia are trading names of The Co-operative Bank p.l.c., P.O. Box 101, 1 Balloon Street, Manchester M60 4EP. Registered in England and Wales No. 990937. Credit facilities are provided by The Co-operative Bank p.l.c. and are subject to status and our lending policy. The Bank reserves the right to decline any application for an account or credit facility. The Co-operative Bank p.l.c. is a member of the Council of Mortgage Lenders and subscribes to the Lending Code which is monitored by the Lending Standards Board.Calls to 0800 and 0808 numbers are free from landlines and mobiles. Calls to 03 numbers cost the same as calls to numbers starting with 01 and 02. Calls to 0845 and 0870 numbers cost 3p per minute, plus your phone company’s access charge. Calls to 0844 and 0843 numbers cost 7p per minute, plus your phone company’s access charge. Calls may be monitored or recorded for security and training purposes.
413292_BNA_MKT12215.indd 19 19/02/2016 10:31
STANDARD SECURITY
BY
IN FAVOUR OF
THE CO-OPERATIVE BANK P.L.C.(TRADING AS PLATFORM)
SUBJECTS:
Solicitors:
Reference:
�
The�Co-operative�Bank�p.l.c.�is�authorised�by�the�Prudential�Regulation�Authority�and�regulated�by�the�Financial�Conduct�Authority�and�the�Prudential�Regulation�Authority��(No.�121885).�The�Co-operative�Bank,�Platform,�smile�and�Britannia�are�trading�names�of�The�Co-operative�Bank�p.l.c.,�P.O.�Box�101,�1�Balloon�Street,�Manchester�M60�4EP.�Registered�in�England�and�Wales�No.�990937.�Credit�facilities�are�provided�by�The�Co-operative�Bank�p.l.c.�and�are�subject�to�status�and�our�lending�policy.�The�Bank�reserves�the�right�to�decline�any�application�for�an�account�or�credit�facility.�The�Co-operative�Bank�p.l.c.�is�a�member�of�the�Council�of�Mortgage�Lenders�and�subscribes�to�the�Lending�Code�which�is�monitored�by�the�Lending�Standards�Board.Calls�to�0800�and�0808�numbers�are�free�from�landlines�and�mobiles.�Calls�to�03�numbers�cost�the�same�as�calls�to�numbers�starting�with�01�and�02.�Calls�to�0845�and�0870�numbers�cost�3p�per�minute,�plus�your�phone�company’s�access�charge.�Calls�to�0844�and�0843�numbers�cost�7p�per�minute,�plus�your�phone�company’s�access�charge.�Calls�may�be�monitored�or�recorded�for�security�and�training�purposes.
P40
2���0
2/20
16
In�this�Deed�the�expressions�set�out�below�shall�have�the�meanings�and�effects�set�opposite�them.
Mortgage Account Number:
� Lender:� �The Co-operative Bank p.l.c. (trading as Platform),�a�company�registered�under�the�Companies�Acts�in�England�(Number�990937)�and�having�its�Registered�Office�at�P.O.�Box�101,�1�Balloon�Street,�Manchester,�England,��M60�4EP,�including�its�successors�and�assignees�(whether�absolute�or�in�security)�whomsoever
� Borrower:�� (full�names�and�addresses)
� � � � �� � Where�the�Borrower�is�more�than�one�person,�the�singular�includes�the�plural��� � and�all�obligations�are�undertaken�jointly�and�severally.
� Consentor:� � spouse/civil�partner�of�and�residing�with�the�Borrower
� Property:� � as�described�in�full�below
� Scottish Mortgage� � � �� Conditions:
� �� � �
1.� The�Borrower�undertakes�to�pay�to�the�Lender�the�Secured�Amounts�and�all�other�sums�due�or�that�may�become�due�by�the�Borrower�to�the�Lender,�including�any�further�advances�and�re-advances�that�may�be�made�by�the�Lender�to�the�Borrower,�for�which�the�Borrower�with�the�consent�of�the�Consentor�(if�any)�for�the�purposes�of�the�Matrimonial�Homes�(Family�Protection)�(Scotland)�Act�1981�or�(as�applicable)�the�Civil�Partnership�Act�2004,�hereby�grants�a�Standard�Security�in�favour�of�the�Lender�over�ALL�and�WHOLE
STANDARD SECURITY
PlatformP.O.�Box�3462,�Cheadle�Road,�Leek�ST13�9BGDX�16351�(Leek)Telephone:�0345�070�1999
The�Mortgage�Conditions�(Scottish�Edition)�2016�made�by�the�Lender�and�another�dated�19th�January�2016�and�registered�in�the�Books�of�Council�and�Session�on�25th�January�2016.�Words�defined�in�the�Scottish�Mortgage�Conditions�have�the�same�meaning�in�this�Standard�Security.�
2.� This�Standard�Security�incorporates
� (i)� the�Scottish�Mortgage�Conditions;�and
� (ii)� the�terms�and�conditions�stated�in�the�Mortgage�Offer,
� and�the�Borrower�accepts�and�agrees�to�observe�and�perform�the�obligations�and�conditions�contained�in�these�documents�and�acknowledges�receipt�of�copies�of�each�of�them.
3.� The�Standard�Conditions�specified�in�Schedule�3�to�the�Conveyancing�and�Feudal�Reform�(Scotland)�Act�1970�as�amended�and�varied�by�(a)�the�Redemption�of�Standard�Securities�(Scotland)�Act�1971�and�(b)�the�Scottish�Mortgage�Conditions�and�any�lawful�variation�thereof�operative�for�the�time�being�shall�apply�in�this�Standard�Security.�The�Consentor�(if�any)�consents�to�the�Borrower�shortening�the�period�of�any�calling�up�notice�served�in�terms�of�Section�19(10)�of�the�Conveyancing�and�Feudal�Reform�(Scotland)�Act�1970.
4.� The�borrower�grants�warrandice�and�consents�to�the�registration�of�this�Standard�Security�for�execution.
� IN�WITNESS�WHEREOF�these�presents�consisting�of�this�and�the�preceding�page�are�subscribed�by�the�Borrower�and�� Consentor�(if�any)�before�the�witness(es)�referred�to�below:
� � (first�Borrower)� Witness
at� � � (Full�name)
on� � � (Address)
� � (second�Borrower�/�Consentor)� Witness
at� � � (Full�name)
on� � � (Address)
� REGISTER�on�behalf�of�the�within�named�PLATFORM�FUNDING�LIMITED�in�the�REGISTER�of�the�COUNTY�of
Agents