The approved certificate of title is the document the conveyancing solicitor gives to the lender to confirm certain statements about the property.
It was developed jointly by the Law Society and the Council of Mortgage Lenders (now UK Finance) and aims to reduce the risk of a conflict of interest when a solicitor acts for both the lender and the borrower.
The certificate confirms to the lender:
- there are no legal problems with the property – it has a “good and marketable title” - so the lender can safely lend against it
- who will own the property once the sale is completed
- the completion date when the funds are needed
You’re advised to use the approved certificate of title if you’re acting for both the lender and the borrower on the grant of a mortgage. See our guide on conflict of interest in conveyancing.