Buy to Let Mortgage Application Form - First Charge
Date of Issue: August 2020 | Version: 4 | Page 7 of 8
I/we further acknowlede and accept that:
1. MBL can rely upon the information I have provided in this application, which I/we conﬁrm is complete and true. I/We are aware
that it is a criminal oence to knowinly supply false information to obtain a loan.
2. I/We conﬁrm that if any of the information in the application chanes prior to MBL makin the advance, I/we will inform both
MBL and the credit intermediary (broker).
3. Where I/we have indicated debt(s) in the Outstandin Credit section of the application form and/or the Consolidation Form,
those marked as repayable from the MBL loan will be inored by MBL in its aordability assessment and will be rearded as
debt(s) that will be repaid on or before completion.
4. I/we conﬁrm that sinin this application shall be treated as my/our irrevocable undertakin to repay those debts on or before
5. The valuation is for MBL only.
By submittin this application I/we acknowlede and accept that: Masthaven Bank Limited (“MBL”) will make enquiries about me/
us, includin searchin any records held by credit reference aencies and checkin my/our details with fraud prevention aencies. If
I/we provide false or inaccurate information and MBL suspect fraud, MBL will record this. The credit reference and fraud prevention
aencies will keep details of any searches. Information held about me/us by the credit reference aencies may already be linked to
records relatin to one or more of my/our ﬁnancial partners. For the purpose of this application I/we may be treated as ﬁnancially
linked and my/our application will be assessed with reference to any ‘associated’ records. Should MBL seek to obtain possession
of my/our property, MBL may at its sole discretion disclose details of my/our outstandin balance and its intentions to any existin
mortae provider. MBL will do this to try to reduce the leal costs which I/we may incur and to ensure parties with an interest in
my/our property are kept properly informed. MBL will disclose details of my/our application and how I/we conduct my/our account,
includin any default, to credit reference aencies, fraud prevention aencies and other relevant oranisations. This information may
be used to help MBL and other oranisations (a) to assess the ﬁnancial risks of dealin with me/us and other members of my/our
household; (b) to help prevent or detect fraud, prevent money launderin or other crimes, recover debts and trace debtors; and (c)
for statistical analysis about credit and fraud. I/we have completed all relevant sections of this form prior to sinin and all details
provided are true and not misleadin.
1. I/We aree that in consideration of Masthaven Bank Limited (“MBL”) rantin me/us mortae facilities in respect of the
above property I/we aree that:
a. The property will only be let under a validly constituted Assured Shorthold Tenancy, in accordance with the provisions
of the Housin Act 1988.
b. The property will not be let at a rent less than the “open market” rent.
c. The duration of the contractual term of any Assured Shorthold Tenancy will not exceed 12 months unless it shall have
an operable break clause in the Landlord’s favour at least every 12 months.
d. The property is the subject of an existin Shorthold Tenancy Areement at the date of completion of the intended
mortae to Masthaven and the unexpired residue of the contractual term does not exceed 12 months.
2. Provided that the Tenancy Areement conforms to the above criteria, I/we acknowlede that Masthaven will permit the property
to be let on such basis and such Assured Shorthold Tenancy Areement will be a Permitted Tenancy Areement.
3. I/We further aree to provide Masthaven, on request, with a certiﬁed copy of any Permitted Tenancy Areement (plus any notice
served in relation to the areement).
4. In the event that the tenant(s) make an application for reistration of a “fair rent” or ives any other notice in relation to the
areement, I/we aree to ive a copy to Masthaven immediately.
5. Should I/we default on the terms of the mortae, all my/our rihts exercisable under the terms of the Tenancy Areement
includin that to ive statutory notice to quit to the tenant(s) shall be vested in and exercisable by Masthaven immediately.
6. If the property is subject to an existin Tenancy Areement prior to completion of the mortae:
a. I/We conﬁrm that the existin Tenancy Areement conforms to Masthaven requirements as set out in pararaph
1 (a) – (b) inclusive.
b. I/We comply with the obliations as set out in pararaph 3 and 4 above and
c. I/We confer on Masthaven the rihts as set out in pararaph 5 in the event of my/our default under the mortae.