Loan transaction involving an interest registered in the Land Register where the Land Certificate has been issued to the Borrower.
Dear Sirs
[](the "Borrower")
[](the "Lender")
[](the "Property")
With reference to the settlement of this transaction today, we hereby:
(1) undertake to clear the records of any deed, decree or diligence (other than such as may be created by, or against, the Lender) which may be recorded in the Personal Registers or to which effect may be given in the Land Register in the period from [ ]1 to fourteen2 days after today's date inclusive (or to the earlier date of registration of the Lender's interest in the Property) and which would cause the Keeper to make an entry on, or qualify his indemnity in, the Title Sheet relating to the Borrower's interest in the Property; [and]
(2) confirm that, to the best of our knowledge and belief, as at today's date the answers to questions numbered 1 to 10 in the draft Form 2 adjusted with you (in so far as these answers relate to the Borrower or to the Borrower's interest in the Property) are still correct; [and]
[(3) on behalf of the Borrower, undertake to exhibit/deliver to you within three months of today's date a search in the Register of Charges and Company file of the Borrower and brought down to at least thirty six3 days after today’s date disclosing no entry prejudicial to the Lender's interest]4.
Yours faithfully
Notes:
1. Here insert date of certification of Form 12 or 13 Report
2. See Guidance Notes.
3. This period should be twenty two days plus the fourteen day period permitted.
4. Add further undertakings as required, but any such further undertakings should normally be on behalf of the Borrower only. Bear in mind that any such further undertakings given by the Borrower’s solicitors personally, other than in respect of discharges (where relevant and then only subject to compliance with conditions), will not fall within the definition of the “classic letter of obligation” for Master Policy insurance purposes.