Lenders will generally only lend on a newly built (or newly converted) property where the property is covered by a warranty scheme (for example, NHBC warranty, Premier guarantee) or the CML, now known as UK Finance Professional Consultant Certificate.
The CML, now known as UK Finance Professional Consultant Certificate can only be signed by a consultant with one or more of the qualifications listed in section 6.6.4 of the Lenders’ Handbook (for example, fellow or associate of the Royal Institution of Chartered Surveyors RICS). By signing the certificate the consultant confirms that he has designed and/or monitored the construction of the property and that he will remain liable to the owner and any lenders for a minimum of six years.
You’ll need this type of certificate if:
· You’re selling the property and your purchaser needs a mortgage
· You want to rent the property and raise a Buy-to-Let mortgage to release equity.
Click here to go to a list of banks and building societies that currently accept our certificate.
Click on the links below for an example of a standard format architect’s certificate provided by the Council of Mortgage Lenders across the UK for your area.