Send the completed form to L&C Pensions.

If the purchase is to involve a loan then you should approach your Lender as soon as possible and obtain an offer in principle - see "You choose the Lender" on page 6 and please note particularly the comments about valuations and the benefit of simultaneous instructions by the Lender and ourselves

Send this offer letter to L&C Pensions with your Proposed Property Purchase Form.

Upon receipt of your completed forms(s) they will be acknowledged and our standard procedures will automatically start the purchase procedures and costs will begin to be incurred.

After this point, if you have any queries as to progress these should be addressed to your own Solicitor who will be co-ordinating the transaction.

For your information the steps that will be taking place behind the scenes will be as follows:

* L&C Pensions will immediately instruct your Valuer/Surveyor to prepare a report on the property - but see (a) below.
* Upon receipt of this report, and assuming that it is satisfactory, L&C Pensions will then instruct their Solicitors to start the legal process. This is done by fax on the day on which L&C Pensions will receive your Surveyor's report (unless the report raises any queries, in which case you will be advised).

At your request L&C Pensions may instruct the Solicitors earlier but you run the risk that the Surveyor's report may reveal something which makes the property unacceptable to you or us. This would mean that you will have incurred some Solicitors' fees unnecessarily. If you are prepared to accept this risk you may tell L&C Pensions on your Proposed Property Purchase Form.

* On receipt of L&C Pensions fax, L&C Pensions Solicitors will send a comprehensive pack of information and instructions to your Solicitors.
Your Solicitors must follow all the instructions given in this pack and deal fully with all matters described. Any failure to do this will lead to delays.

* Your Solicitors will carry out an investigation into title and liaise as necessary with the Seller's Solicitor.
They will prepare a "report on title" which will be sent to L&C Pensions Solicitors.

• L&C Pensions Solicitors will liaise as necessary with the Lender and the Lender's Solicitor (if any).

• L&C Pensions Solicitors will, normally within 3 days, prepare engrossments of the various documents required to be executed. They will then deal with the exchange of contracts and completion. If a loan is involved, then exchange and completion will be simultaneous unless the lender guarantees funds for completion. The necessary money for the exchange and completion will be transmitted by our administrators upon request from our Solicitors.

* After completion, L&C Pensions shall instruct their Property Managers to assume responsibility for the property and to arrange for future rent collection - see "Property Management" . Please note the following important points:

(a) No action will normally be taken to implement any of the above procedures if there is not enough money in your Fund to complete the purchase and pay all the costs. L&C Pensions shall, if a loan is involved, take account of any loan facility which has been formally offered. Exceptionally, if there is not enough money immediately available but you can confirm to our satisfaction that money will be received in due course then we will agree to proceed provided that we have at least £3,000 to cover possible costs. L&C Pensions will not, however, exchange contracts unless availability of the whole sum required has been confirmed.

Please note that any amounts paid before we receive a completed application form will not be treated as a pension contribution until a completed form is received and accepted subject to the normal conditions for acceptance of contributions.

(b) If the investment is to be shared between your Fund and the Funds of one or more of your partners or associates then you must all complete a "Group Investment Agreement" - and a "Group Investment Request"
No action will be taken to implement any of the above procedures unless all of these items have been received.

(c) Subject to the above conditions, once L&C Pensions have received your completed Proposed Property Purchase Form the purchase procedures will commence automatically.
If for any reason the purchase should not be completed, your Fund will still be liable for all costs incurred up to the time when the purchase procedure is halted. This applies whether you call a halt or whether something comes to light which is unacceptable to ourselves.

(d) Once you have submitted your Proposed Property Purchase Form and up to the date of exchange of contracts ALL ENQUIRIES REGARDING PROGRESS MUST BE MADE VIA YOUR OWN SOLICITOR who should have all the relevant information.