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The Law Society and Council of Mortgage Lenders Approved Certificate for Mortgage Monies is interesting though (particularly where it says that the Buyers Solicitors before Mortgage Advances are made should check that the Seller has been Registered for 6 months) :


(1) If so instructed, we have checked the identity of the Borrower (and anyone else required to sign the mortgage deed or other document connected with the mortgage) by reference to the document or documents precisely
specified in writing by you.

(2) Except as otherwise disclosed to you in writing:

(i) we have investigated the title to the Property, we are not aware of any other financial charges secured on the Property which will affect the Property after completion of the mortgage and, upon completion of the mortgage, both you and the mortgagor (whose identity has been checked in accordance with paragraph (1) above) will have a good and marketable title to the Property and to appurtenant rights free from prior mortgages or charges and from onerous encumbrances which title will be registered with absolute title;

(ii) we have compared the extent of the Property shown on any plan provided by you against relevant plans in the title deeds and/or the description of the Property in any valuation which you have supplied to us, and in our opinion there are no material discrepancies;

(iii) the assumptions stated by the valuer about the title (its tenure, easements, boundaries and restrictions on use) in any valuation which you have supplied to
us are correct;

(iv) if the Property is leasehold the terms of the lease accord with your instructions, including any requirements you have for covenants by the Landlord and/or a management company and/or by a deed of mutual covenant for the insurance, repair and maintenance of the structure, exterior and common parts
of any building of which the Property forms part, and we have or will obtain on or before completion a clear receipt for the last payment of rent and service charge;

(v) if the Property is a commonhold unit, the commonhold community statement contains the terms specified by you and does not include any restrictions on occupation or use specified by you as unacceptable, and we have or will obtain on or before completion a commonhold unit information certificate;

(vi) we have made reasonable enquiries to satisfy ourselves that buildings insurance has been arranged for the property from no later than completion. We
have reminded the borrower that buildings insurance must be in place in accordance with the terms of your mortgage offer by completion and that buildings insurance cover must be maintained throughout the mortgage term.

(vii) if the Property is to be purchased by the Borrower:

(a) the contract for sale provides for vacant possession on completion;

(b) the seller has owned or been the registered owner of the Property for not less than six months;

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