I
DOHEREBYDECLAREasfollows:-_____________________________________________________________________________________
1. IntermsofaMortgageOfferdated (including any amendment thereto)Platform Funding Limited,whoseofficeisatNewtonHouse,CheadleRoad,Leek,StaffordshireST135RG hasagreedtoadvancetomealoanof£tobesecured(togetherwithanyfurtheradvanceswhichmaybe made)byaStandardSecurityoverthepropertyknownasandforming
_____________________________________________________________________________________2. Asatthedateofthisdeclarationthesaidpropertyisnotamatrimonialhomeinrelationtowhichaspouseofminehas occupancy rights, the expressions “matrimonial home” and “occupancy rights” having the meanings respectively ascribedtothembytheMatrimonialHomes(FamilyProtection)(Scotland)Act1981asamended,orafamilyhomein relationtowhichacivilpartnerofminehasoccupancyrights,theexpressions“familyhome”and“occupancyrights” havingthemeaningsrespectivelyascribedtothembytheCivilPartnershipAct2004asamended._____________________________________________________________________________________
SUBSCRIBEDbythe abovenamed
at
on
Signature
beforethiswitness
Signatureofwitness
Nameofwitness
Addressofwitness
AFFIDAVIT
PlatformP.O.Box3462,CheadleRoad,LeekST139BGDX16351(Leek)Telephone:08456007200
PlatformisatradingnameofPlatformHomeLoansLimitedandPlatformFundingLimitedwhoareauthorisedandregulatedbytheFinancialConductAuthority.BothareRegisteredinEngland&WalesNumber2334606.Registeredaddress:NewtonHouse,CheadleRoad,Leek,StaffordshireST135RG
LPHL02312/13
302637_BNA_LPHL023.indd 1 12/12/2013 08:11
TO: Platform Funding Limited 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,confirmthatPlatformFundingLimited(the
“Company”)maywarranttoanypersonsadvancingmoneytotheCompanyonthesecurityoftheStandardSecurityor
purchasingtheSecuritythatitisenforceableandalllegalformalitieshavebeencompliedwithtoprotecttheCompany’s
interestintheSecurity.Referencestothe“Company”,includeitssuccessorsandassigneeswhomsoever.
CERTIFICATE OF TITLE AND FUNDS TRANSFER REQUEST
PlatformPOBox3462,CheadleRoad,LeekST139BGDX16351(Leek)Telephone:08456007200
SCOTLANDTwocopiesareprovided-
oneforyourfile
302612_BNA_LPHL020.indd 1 07/01/2014 09:55
CERTIFICATE OF TITLE AND CERTIFICATIONSWecertifytotheCompanythat:
1. WehaveinvestigatedtitletothePropertyandmadeallnecessaryenquiriesandsearchesandconfirmthatthe BorrowerhasorwillacquiregoodandmarketabletitletothePropertywhichdoesorwillconstituteagoodSecurity.
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’svaluationonmatters ofthetitle,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):
PlatformisatradingnameofPlatformHomeLoansLimitedandPlatformFundingLimitedwhoareauthorisedandregulatedbytheFinancialConductAuthority.BothareRegisteredinEngland&WalesNumber2334606.Registeredaddress:NewtonHouse,CheadleRoad,Leek,StaffordshireST135RG LPHL02001/2014
302612_BNA_LPHL020.indd 2 07/01/2014 09:55
PlatformPO Box 3462, Cheadle Road, Leek ST13 9BGDX 16351 (Leek)Telephone: 0845 600 7200
DEEDS SCHEDULE
Please do not forward any title documents until a copy of the register can be provided showing 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)
(Platform Funding Limited’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))
308979_BNA_LPHL019_0214.indd 1 06/02/2014 10:21
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)
Platform is a trading name of Platform Home Loans Limited and Platform Funding Limited who are authorised and regulated by the Financial Conduct Authority.
Both are Registered in England & Wales Number 2334606. Registered address: Newton House, Cheadle Road, Leek, Staffordshire ST13 5RG LPHL019 02/14
308979_BNA_LPHL019_0214.indd 2 06/02/2014 10:21
List 1: Proof of identity
• Currentvalidpassport(mustcontainEnglishtranslation)
• CurrentUKoldstyledrivinglicence(fulllicenceonly–oldstyleprovisionallicenceisnotacceptable)
• CurrentUKphotocarddrivinglicence(fullorprovisional)–counterpartnotrequired
• BenefitbookormostrecentletterfromtheBenefitsAgencyconfirmingtherighttobenefits(issuedwithinthelast6monthsorvalidforthecurrentyear)
• Firearmscertificate/shotgunlicence
List 2: Proof of Address
• Confirmationfromanelectoralregistersearchthatapersonofthatnamelivesatthataddress
not acceptable for products with free standard Legals
• Recentutilitybill(issuedwithinthelast6months)Mobilephonebillsarenotacceptable
• Mostrecentbank,buildingsocietyorcreditunionstatement,letterorpassbookcontainingcurrentaddress(issuedwithinthelast6months)Internetstatementsnotacceptable
• Mostrecentmortgagestatementfromarecognisedlender(issuedwithinthelast6monthsorvalidforthecurrentyear)
• BenefitsbookormostrecentnotificationfromtheBenefitsAgencyconfirmingtherighttobenefits(issuedwithinthelast6monthsorvalidforthecurrentyear)
• 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
• CurrentUKoldstyledrivinglicence(fulllicenceonly–oldstyleprovisionallicenceisnotacceptable)
• CurrentUKphotocarddrivinglicence(fullorprovisional)–counterpartnotrequired
• Localauthoritytaxbill(issuedwithinthelast6monthsorvalidforthecurrentyear)
• Localcounciltenancyagreementnot acceptable for products with free standard Legals
• MostrecentHMRevenue&Customstaxnotification(issuedwithinthelast6monthsorvalidforthecurrentyear–SA302,P60,P45notacceptable)
identity reQUireMents
CertifyinG doCUMentAtion
PlatformP.O.Box3462,CheadleRoadLeekST139BGTelephone:08450701999*DX16351(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.
PlatformisatradingnameofPlatformHomeLoansLimitedandPlatformFundingLimitedwhoareauthorisedandregulatedbytheFinancialConductAuthority.BothareregisteredinEngland&WalesNumber2334606.Registeredaddress:NewtonHouse,CheadleRoad,Leek,StaffordshireST135RG.*Telephonecallsmaybemonitored.Linesareopenbetween9amand5pmMondaytoWednesdayandFriday.LinesareopenonThursdaybetween10amand5pm.
PHL03412/13
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mortgage conditions(Scottish edition) 2011
platform funding limited
294156_BNA_MKT12215.indd 1 31/01/2014 16:34
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
TheseConditionsarelegallybindingonyouandincluderestrictionsandrequirementsconcerningtheuseofthepropertytobemortgaged.
YoushouldreadandunderstandtheConditionsandreferanyqueriestoyourindependentlegaladvisors.
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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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PageOne
DEFINITIONS
“Act” meanstheConveyancingandFeudalReform(Scotland)Act1970.
“BankofEnglandBaseRate”meansthereporatedecidedbytheMonetaryPolicyCommitteeoftheBankofEnglandfromtimetotime.IfforanyreasonitisnotpossibletodeterminesuchratetheBankofEnglandBaseRatewillbesuchratewereasonablydecideisacomparablerateatthattime.
“BusinessDay”meansaday(otherthanaSaturday)onwhichbanksinLondongenerallyareopenfortransactingbusinessofthenaturerequiredforthepurposesoftheMortgage.
“Conditions”meanstheConditionsinthisdeedandtheStandardConditionsasvariedbytheMortgageandreferencetoaspecificConditionistotherelevantConditioninthisdeed.
“Costs”meansallcosts,fees,chargesandexpenseswhichmaybeincurredinconnectionwiththeMortgageasdescribedinCondition7.
“InterestPaymentDay”meansthedayofthemonthspecifiedinyouracceptanceoftheMortgageOfferasthedayyouwishtomakeyourMonthlyPayments,whichcanbenolaterthanthe28thofeachmonth,orasotherwiseadvisedbyusfromtimetotimeinaccordancewithCondition3.8.Youcanvarythisdayfromtimetotimebygivingusatleast30daysadvancewrittennotice.IfyouchangetheInterestPaymentDaytheninterestwillbedueandpayablewhichwillnotautomaticallybecollectedintheMonthlyPaymentfollowingthechange.
“InterestRate”meanstherateofinterestapplicabletosumsoutstandingundertheMortgageandcalculatedinaccordancewithCondition2A,2Bor2C(asspecifiedintheMortgageOffer).
“IssueDate”meansthedateonwhichwesendtheLoanAmount(lessanyamountretainedbyus)toyoursolicitorsortoanyotherpartyspecified(whetherbycheque,banker’sdraft,credittransferorinanyotherway).
“Libor”meansthethreemonthLondonInterbankOfferedRatefordepositsinsterlingquotedbyordesignatedfortheBritishBankersAssociationasat11.00amontherelevantRecalculationDate,roundedup(ifrelevant)tothenearest1/8th%.IfforanyreasonitisnotpossibletodeterminesuchrateLiborwillbesuchratewhichwereasonablydecideisacomparablerateatthattime.
“LoanAmount”meanstheamountoftheloanwhichweproposetomaketoyou,asspecifiedintheMortgageOffer,orasthecontextrequirestheamountofsuchloanoutstandingfromtimetotime.
“MonthlyPayment”meanstheMonthlyPaymentspecifiedbyusintheMortgageOfferasvariedfromtimetotime.
“Mortgage”meansthestandardsecurityovertheProperty,grantedbyyouassecurityfortherepaymentoftheSecuredAmounts,andwhichincorporatesandincludestheConditionsandtheMortgageOffer.
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“MortgageOffer”meansthewrittennoticeornoticesdescribedastheMortgageOfferprovidedtoyoubeforethedateoftheMortgagestatingthatwearepreparedinprincipletomakealoantoyouandtoprovideotherfacilitiesmentionedintheMortgageOffer(includinganywrittenvariationofthatnoticeornoticesandanysubsequentofferoffurtheradvancewheretherepaymentofsuchfurtheradvanceisorisintendedtobesecuredbytheMortgage)andincludes(fortheavoidanceofdoubt)allgeneralandspecialConditions(ifany)applicabletotheMortgageOffer.
“Property”shallincludeallpropertysecuredorintendedtobesecuredbyyoutousandalladditionsandotherthingson,andintendedtoformpartof,theProperty.
“RecalculationDate”meansthedatesonwhichtheInterestRatewillbere-setinaccordancewiththeMortgageOfferorsuchdatesasyouhaveotherwisebeenadvisedbyusfromtimetotimeinaccordancewithCondition3.8.
“SecuredAmounts”means:(a) theLoanAmountandanyfurtheradvanceoradvancesmadebyustoyou,orthebalanceineachcaseowedbyyou
tousfromtimetotime;
(b) interestpayableontheamountsreferredtoinparagraph(a);
(c) anyotheramountswhichareorwhichmaybecome,orareexpressedtobe,payablebyyoutousundertheprovisionsoftheMortgageoranysecuritywhichisadditionaltotheMortgageorunderanyotherdocumentcreatinganySecurityInterestinfavourofusinrelationtoyourobligationstous;and
(d) allothermoneyforthetimebeingduebyyoutouswhetherofprincipal,interestorotherwiseandwhetherincurredbyyouasprincipalandincludingmoneyduetouspursuanttotheMortgageOffer.
TheSecuredAmountsdonotincludeanymoniesorliabilitiesregulatedbytheConsumerCreditAct1974(asamendedbytheConsumerCreditAct2006),unlessyouagreeotherwisewithus.
“SecurityInterest”meansanystandardsecurity,assignationinsecurity,rightofset-off,lienorothersecurityinterest(includinganyarisingorimposedasamatteroflaworunderlegislation).
“StandardConditions”meansthestandardConditionssetoutinSchedule3totheAct.
“StandardVariableRate”meansourstandardvariablerateofinterestwhichcanbechangedbyusatanytimeunderCondition2.
“TariffofCharges”meansourscheduleoffeesandchargesasamended,substitutedorreplacedfromtimetotime.
“We”and“Us”meansPlatformFundingLimitedanditssuccessors,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.AGREEMENTTOPAY
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
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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)fromandincludingtheIssueDatetothedateofpaymentinfulloftheLoanAmount.InterestshallbepayableonanyamountoftheLoanAmountspecifiedintheMortgageOfferasaretentionfromthedateonwhichitissentbyustoyouoryoursolicitorsoranyotherpartyspecifiedbyyou.InterestshallaccrueattheInterestRateonadailybasisandshallbepaidonallSecuredAmountswhicharenotpaidontheduedate.
1.4 YoushallpaytousCostsintheamountsetoutintheTariffofChargeswhichmaybevariedinaccordancewiththecircumstancesasdescribedinCondition7.
1.5 YoushallmakeeachpaymentdueundertheMortgagepromptlyandinfull.IfyoufailtopayanamountthatyouareobligedtopayyoumayincurinterestonanysuchamountsassetoutinCondition1.1(c).Allpaymentqueriesshouldbereferredtoourmortgageadministrationdepartmentassoonaspracticable.
1.6 WereservetherightnottoacceptanypaymentsfromyouundertheMortgageifwereasonablybelievethattheremaybefraudulentactivityorotherfinancialcrimeaffectingtheMortgage.
2.THEINTERESTRATE
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.MONTHLYPAYMENTS
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.EARLYREPAYMENT
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.YOUROBLIGATIONS
5.1 Youagreethatyouwillnotdoanyofthefollowingwithoutourpriorwrittenconsent:
(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,waiveorsettleanyclaimforcompensation(whetherpayableunderanyenactmentorotherwise)inrespectofthecompulsoryacquisition,lossof,damageto,orreductioninvalueoftheProperty;
(i) ClosethecurrentaccountmaintainedbyyoufromwhichMonthlyPaymentsaremadeoralterthedirectdebitmandatetothebankorbuildingsocietyatwhichsuchaccountismaintainedormakeanyotheralterationstothemethodofpaymentagreedwithus;
(j) DoorfailtodoanythingwhichmightresultinthePropertybeingdamagedorreducedinvalueorallowanythingwhichmightdamagethePropertyorreduceitsvalue.
5.2 Youfurtheragreethatyouwilldoallofthefollowing:
(a) PromptlynotifyusinwritingifandwheneverthePropertyshallbeleftvacantforaperiodexceeding28days;
(b) PromptlynotifyusinwritingofanynoticeorinformationreceivedbyyouconcerninganyproposalforthecompulsoryacquisitionofthePropertyoranypartofit,oranyothermatterwhichmightadverselyaffectthevalueofthePropertyincluding,withoutlimitation,anyplanningapplicationand(atyourcost)totakeanyactionregardingthesameaswemayreasonablyrequire;
(c) KeepthePropertyingoodandsubstantialrepairandconditionandgooddecorativeorderandkeepthegardens(ifany)ingoodorderandproperlycultivated;
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(d) Performandobservealltitleconditions,stipulations,regulationsandagreementsaffectingtheProperty,includinganyobligationsunderanylease,licenceorotherdocumentunderwhichthePropertyisheldorused;
(e) ComplywithallstatutoryandotherrequirementsofallcompetentauthoritieswhichaffectorrelatetothePropertyandprovidewrittenevidenceofsuchcompliancetousonrequest;
(f) Punctuallypayalltaxes,rates,rentsandoutgoingsassessedorpayableonthePropertyorbytheowneroroccupierofthePropertyandtodischargeallliabilitieswhichrankormaycometorankinprioritytothesecuritycontainedintheMortgage;
(g) Allowus(andanypersonsauthorisedbyus)tohaveaccesstothePropertyatallreasonabletimesandafterreasonablenoticetocarryoutanysurveyorinspectionwhichwemayreasonablydecidetobenecessaryandtodoanyworkwhichyouhavefailedtodoinaccordancewithyourobligationsundertheConditions;
(h) WherewehaveretainedanyoftheLoanAmountuntilyoucompletespecifiedworkstotheProperty,carryoutandcompletethoseworkswithinsixmonthsoftheIssueDatetothereasonablesatisfactionofoursurveyorandtopayhisreasonablere-inspectionfee(ifany);
(i) (IfthePropertyisheldunderalonglease)grantastandardsecuritytous(insuchformasweshallreasonablyrequire)overanysuperiorleaseorthelandlord’sinterestoranyextensionorrenewaloftheleaseterminthePropertywhichyoumayacquireafterthedateofthisMortgage;and
(j) Wherethereismorethanoneborrower,promptlynotifyusinwritingifanyoneofyoudies.
IfyoufailtoobserveorpunctuallytoperformanyofyourobligationsundertheMortgage,weshallhavepoweronyourbehalforotherwisetoperformanyorallofthoseobligationsandtotakeanystepswhichwemayreasonablythinknecessarytoremedythefailure.However,theexerciseofthatpowerorthefailuretoexerciseitshallinnocircumstancesprejudiceourrightsunderthetermsoftheMortgageandourwaiverofanybreachoftheConditionsoroftheMortgageshallnotpreventthesubsequentenforcementofanyofthemandshallnotbedeemedawaiverofanysubsequentbreach.
6.INSURANCE
6.1 Youfurtheragree(butsubjecttoCondition6.5below)tokeepthePropertyinsuredtoitsfullrebuildingcost(whichshallbenotlessthantheamountdeterminedbyus)underapolicywhichshall:
(a) includeprovisionforadjustmentofthesuminsuredatleastannuallyandinaccordancewiththepublishedalterationsintheHouseRebuildingCostIndexpreparedbytheRoyalInstitutionofCharteredSurveyorsorsuchotherindexasweshallreasonablyapprove;
(b) includeprovisionforarchitects’andsurveyors’feesandcostsofdemolitionanddebrisremoval;
(c) provideinsurancewithinsurersapprovedbyus,ourapprovalnottobeunreasonablywithheld;
(d) providecoveragainstlossordamagebyfire,stormorflood,burstpipes,lightning,explosion,riot,civilcommotion,maliciousdamage,impactbyaircraftotheraerialdevicesorarticlesdroppedfromaircraft,orbyanyroadvehicle,train,animalorfallingtree,earthquake,subsidence,heaveandlandslipandsuchadditionalorotherrisksaswemayfromtimetotimereasonablyspecify;and
(e) ineverycasewithourinterestnotedontherelevantpolicy.
6.2 YoushallpromptlypayallpremiumsandothersumspayableinrespectofallinsurancesrequiredundertheConditionsandshalldelivertousalloranyofthepolicies.Ondemand,youshallproducethereceiptsforthelastpremiumspayableorshallprovideotherevidencesatisfactorytousastothetermsofinsuranceandthepaymentofpremiums.
6.3 Youshallnotdo,permittobedoneorfailtodoanythingonthePropertywhichmayprejudiciallyaffecttheinsuranceofthePropertyorwhichmayincreasethepremiumpayableinrelationtosuchinsurance.
6.4 YoushallholdanymoniesreceivedbyyouinrespectofanyinsuranceoftheProperty(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.FEESANDEXPENSES
7.1 YoufurtheragreeondemandtopayallCostsby,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.OURRIGHTSANDREMEDIES-OURRIGHTTOSELLTHEPROPERTY
InadditiontothecircumstancesspecifiedintheAct,youshallbeindefaultintermsofStandardCondition9(1)(b)andourrighttosellthePropertyandallotherremediesundertheMortgageshallbeexercisableimmediatelyinanyofthefollowingcases:
(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.OURRIGHTSANDREMEDIES-OURADDITIONALPOWERS
OurpowertosellthePropertyandourotherpowersconferredbytheActareextendedandvariedsothatwe,atourabsolutediscretion,areauthorisedbyyou:
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.OURRIGHTSANDREMEDIES-POWERSOFLEASING
ThepowersofleasingandacceptingsurrendersofleasesconferredbySection20oftheAct(theseprovisionsgiveuscertainrightsafterwetakepossessionoftheProperty)areextendedandvariedtoauthoriseusatanytimeafterourrighttoenforcetheMortgagehasbecomeexercisable:
(a) forsuchconsiderationaswemayreasonablyconsiderappropriateorinrelationtoCondition10(ii)withoutconsideration;
(b) onsuchtermsaswemayreasonablyconsiderappropriate;and
(c) whetherornotweareinpossessionoftheProperty;
todoalloranyofthefollowing:
(i) togrant(subjecttotheprovisionsoftheAct)anyleaseofthePropertysubjecttoandwiththebenefitofsuchobligations,conditionsandprovisionsandgenerallyuponwhatevertermswemayreasonablythinkappropriate;and
(ii) toacceptoragreetoacceptanysurrenderofaleaseoftheProperty.
11.RIGHTSANDREMEDIES-YOURGOODS
11.1 IfwetakepossessionofthePropertyandyouhavenotremovedanyremainingfurnitureorgoodswithinfourteendays,thenweshallhavefullauthorityatyourexpenseandrisktoremove,store,selland/ordisposeofsuchfurnitureorgoodsinsuchmannerandonsuchtermsasweshallreasonablythinkfit.
11.2 NothingcontainedintheMortgageshallgiveusanysecurityorrightsinrespectofanyfurnitureorgoodsasmentionedinCondition11.1ortotheproceedsofsalefromthem.
11.3 WeshallhavenoliabilitywhateverforanylossordamagecausedbyorfollowingtheexerciseorpurportedexerciseoftheauthoritiesspecifiedinthisCondition11,providedthatwewereactingreasonablyandingoodfaithattherelevanttime.
11.4 TheobligationtoreimburseuscontainedinCondition16andgivenbyyoushall(withoutprejudicetothegeneralapplicationofthatCondition)extendtoanyliabilitiesincurredbyusingoodfaithregardingthesale,purportedsale,attemptedsaleordisposalingoodfaithbyusofanysuchfurnitureorgoodsinwhichanyotherpersonhasaninterestorownership.
12.OURRIGHTSANDREMEDIES–POSSESSION
Youagreethat,ifyouareindefaultandtheSecuredAmountshavebecomedueandpayable,youshallvacatethePropertyandgiveuspossessionofitafterwehavegivenyousevendays’writtennoticerequiringyoutoleavetheProperty.YoufurtheragreethatwemayapplyforacourtorderorwarrantforpossessionofthePropertyinanySheriffCourtintheareainwhichthePropertyissituatedatanytimeaftertheperiodofsevendaysspecifiedinthenotice.
13.TRANSFERORASSIGNATIONOFTHEMORTGAGE
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.PROTECTIONOFTHIRDPARTIES
Apurchaserfromusoranyotherpersondealingwithuscansafelyassumethatweareactingwithinourpowers.TherightsofapurchaserinrelationtothePropertyshallnotbecapableofchallengebyreferencetotheexerciseofsuchpowers.
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15.RELATEDRIGHTS
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.AGREEMENTTOREIMBURSEUS
16.1 Youagreeasaseparateandindependentagreementondemandtoreimburseusagainstallreasonablecosts,claims,proceedingsandliabilitiesreasonablyincurredbyuswhich:
(a) wemayreasonablyincur,orwhichmaybemadeagainstus,whetherbeforeorafterourpowertosellthePropertyhasbecomeexercisableinconnectionwiththeMortgage;
(b) ariseasaconsequenceofanythingdoneorpurportedtobedoneundertheConditions;
(c) resultfromyoufailingtodoanythingundertheConditions;or
(d) resultfromanypaymentordischargeinrespectoftheSecuredAmounts(whethermadebyyouorathirdperson)beingchallengedordeclaredvoidforanyreasonwhatsoever.
16.2 TheamountspayableunderCondition16.1shallcarryinterestattheInterestRatefromtherespectivedatesonwhichtheywerepaidorincurredbyusuntilpaymentinfullbyyou.
17.FURTHERASSURANCESANDPOWEROFATTORNEY
17.1 Youagreewithus,notwithstandingthatourpowertosellthePropertymaynothavebecomeexercisable,topromptlyexecuteanydocumentordoanyactorthingwhichwemayreasonablyspecifyfor:(a) perfectingorimprovinganysecuritycreated,orintendedtobecreated,bytheMortgage;(b) facilitatingtheexerciseortheproposedexerciseofanyofourpowers,ortheprotection,managementorrealisation
oftheProperty;or(c) forthepurposementionedinCondition17.2.
17.2 ForthepurposeofsecuringourinterestintheProperty,youirrevocablyandbywayofsecurityappointustobeyourattorney:(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.GENERALVARIATIONOFCONDITIONS
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.NOTICESANDCOMMUNICATIONS
20.1 AnynoticeorcommunicationtoyoushallbetreatedashavingbeenproperlyserveduponyouifdeliveredbyhandorifsentbyposttotheProperty(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.MANAGEMENTCOMPANY
21.1 IfthePropertyisheldbyyouunderalongleasewhichrequiresthelesseetobeamemberofamanagementcompany,youshalldepositwithusyoursharecertificateorothercertificateofmembershipofthemanagementcompany.Youirrevocablyandbywayofsecurityappointusasyourattorneyandinyournametoexecuteatransferofsuchshareormembershiptoanypersontowhomwemayconvey,transferorassignthePropertyunderourpowersundertheConditions.
22.REPAYMENTBYUS
If:
(a) wereceivepaymentofanyoftheSecuredAmountsfromyouoranyotherperson;and
(b) wearelaterorderedunderanyinsolvencylawtorestorethepositiontowhatitwouldhavebeenifwehadnotreceivedthatpayment,youwillbeliableasifwehadneverreceivedthatpayment.
23.PARTIALINVALIDITY
EachoftheConditionsmaybeseparatedfromeachotherCondition.IfatanytimeanyConditionbecomesillegal,invalidorunenforceable,thiswillnotaffectanyoftheotherConditions.
24.STANDARDCONDITIONS
StandardConditions1to6(inclusive)and12shallnotapplytotheMortgage.
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25.LAW
TheapplicablelawofthisDeedisScotslaw.
26.INDEPENDENTLEGALADVICE
IfyouhaveanyqueriesaboutanyoftheseConditionsyoushouldseekindependentlegaladvice.
27.FLEXIBLEMORTGAGES
IfyourMortgageOfferspecifiesthatunderpayments,paymentholidaysandoverpaymentsareavailableandthatdetailedrulesontheuseofthosefeaturesaresetoutintheMortgageConditionsthenthePlatformFlexibleMortgageConditionscontainedinAppendixAtothisdeedshallapplytotheMortgage.
INWITNESSWHEREOFthesepresentsconsistingofthisandtheprecedingtwelvepagesaresubscribedforandonbehalfofusthesaidPlatformFundingLimitedbyDavidWilliamTweedy,BusinessLeaderanddulyauthorisedbyustoactinthatbehalf,atLondononFourthMayTwoThousandandElevenbeforethiswitness,AbbieLouiseReynolds,ofExchangeTower,2HarbourExchangeSquare,LondonE149FR.
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APPENDIXA
PlatformFlexibleMortgageConditions
1FlexibleOptions
1.1 IfyourMortgageOfferspecifiesthatallthefollowingareavailable:
(a) underpayments;
(b) paymentholidays;and
(c) overpayments
(allofwhichwerefertoasflexibleoptions)thenthesePlatformFlexibleMortgageConditionsshallapplytoyourMortgageandthoseflexibleoptions.TheflexibleoptionsarenotavailableunlessyourMortgageOfferspecifiesthattheyareandiftheyarenotavailabletheremainderofthesePlatformFlexibleMortgageConditionswillnotapply.
1.2 Theseflexibleoptionsshallnotapplytoanyfurtheradvance.
1.3 Beforeyoucanexerciseaflexibleoption(otherthananoverpayment)youmusthavemadesixconsecutivemonthsfullMonthlyPaymentssincethemortgagecommenced.
1.4 Toexerciseaflexibleoption(otherthananoverpayment)youmustsubmitacompletedFlexibleOptionsRequestFormatleast14daysbeforeyourequiretheunderpayments/paymentholidaytocommence.SubjecttoConditions1.3and5wewillcomplywithyourrequest.
1.5 WheretherearejointBorrowersyoumustallrequesttheexerciseoftheflexibleoptionandallandeachofyouwillbeliableinfullforallindebtednessarisingastheresultofthetakeupofanyoftheflexibleoptions.
2OverpaymentFund
2.1 UnderthisFlexibleMortgageyouhaveanOverpaymentFund.Thisisthemaximumamountwearepreparedtoallowyoutounderpay(whetherthatunderpaymentisasaresultofapaymentholidayorunderpayment).
2.2 TheOverpaymentFundatanytimeisequaltothetotalofyouroverpayments(beingthetotalamountyouhavepaidoverandaboveyourcontractualMonthlyPaymentincludinganyearlyrepaymentchargeyouhavepaidlessthetotalamountyouhaveunderpaidandanyearlyrepaymentchargedebitedtoyouraccount).
2.3 WemayreduceorwithdrawyourOverpaymentFundatanytimeforthereasonssetoutinCondition5.
2.4 IfyoumovehouseandarrangeanewPlatformmortgageforthenewpropertyontheseproducttermsyouwillnotbeabletotakeanyexistingOverpaymentFundwithyoutothenewmortgageandatthestartofthenewmortgagetheOverpaymentFundwillbe£0.
3PaymentHolidaysandUnderpayments
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.
4OverpaymentsandEarlyRepaymentChargesonthem
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) SendachequemadepayabletoPlatformFundingLimitedre(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
5WithdrawalofFlexibleOptionsandOverpaymentFund
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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PlatformisatradingnameofPlatformHomeLoansLimitedand
PlatformFundingLimitedwhoareauthorisedandregulatedbytheFinancialConductAuthority.
BothareRegisteredinEngland&WalesNumber2334606.
Registeredaddress:NewtonHouse,CheadleRoad,Leek,StaffordshireST135RG MKT1221510/2013
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In this Deed the expressions set out below shall have the meanings and effects set opposite them.
MortgageAccountNumber:
Lender: PlatformFundingLimited, a company registered under the Companies Acts in England (Number 3456337) and having its Registered Office formerly at Exchange Tower, 2 Harbour Exchange Square, London E14 9FR and now at Newton House, Cheadle Road, Leek, Staffordshire ST13 5RG, 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
ScottishMortgage The Mortgage Conditions (Scottish Edition) 2011 made by the Lender dated Conditions: 4th May 2011 and registered in the Books of Council and Session on 9th May 2011. Words defined in the Scottish Mortgage Conditions have the same meaning in this Standard Security.
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
STANDARDSECURITY
PlatformPO Box 3462, Cheadle Road, Leek ST13 9BGDX 16351 (Leek)Telephone: 0845 600 7200
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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
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STANDARDSECURITY
BY
INFAVOUROF
PLATFORMFUNDINGLIMITED
SUBJECTS:
Solicitors:
Reference:
PHL402 12/13Platform is a trading name of Platform Home Loans Limited and Platform Funding Limited who are authorised and regulated by the Financial Conduct Authority. Both are Registered in England & Wales Number 2334606. Registered address: Newton House, Cheadle Road, Leek, Staffordshire ST13 5RG
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