Conveycentric
has been notified by the Council of Mortgage Lenders that they intend
to publish important amendments to the CML Lender's Handbook for England
and Wales on July 8, 2013. Members and relevant stakeholders consulted
on the changes for the new Part 1 question added as 5.20.4, which were
made necessary by the Green Deal.
The
specific new Part 1 question states, "Check Part 2 to see whether we
require you to disclose the details of any existing Green Deal Plan(s)
on a property".
Simon
Seaton, CEO of Conveycentric, commented, "We are grateful to the CML
who continue to be very helpful in preparing us for major changes so
that we can assist the users of LENDERmonitor and COMPLETIONmonitor. We
will be notifying about 3000 solicitors and conveyancer of
lender-specific requirements on July 8th. We expect amendments to be
made to the BSA Mortgage Instructions by October".
LENDERmonitor,
supported by the CML, provides conveyancers with a free subscription
service that sends out email alerts advising when lenders make changes
to policies. To sign up of free notifications, click here.
The
LENDERmonitor LM04 Policy Search allows conveyancers to establish if
there have been any changes to lenders’ policy over a specified date
range. Commenting on the search, the CML say, “Lenders regularly
change their Part 2 policies. There is now a link from the CML Lender
Handbook to Conveycentric’s LENDERmonitor from where conveyancers can
easily carry out an LM04 Search before submitting their COT to the
Lender and ensure that there are no changes to the Policy that may leave
them exposed”. 
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