239. Bankruptcy search.

A lender will always require a clear bankruptcy search against the name of the buyer or borrower and also against any guarantor of the buyer before releasing the advance1.

Unless a full search of the register has been made on Form K152, the lender's solicitor should submit Form K16 to the Land Charges Department3, completed with the full and correct names (and any known variations of name and spelling) of the borrowers and any guarantors.

Where a mortgage is being taken out independently from the purchase of unregistered land, the lender's solicitor should make a full search on Form K15