Sunday, 26 January 2014

Conveyancing Issues to Prompt CML Handbook Changes in Scotland

Conveyancing issues have come out as a priority according to a recent Law Society of Scotland poll of its member solicitors. 

Following the "no" vote against the separate representation of borrowers and lenders in conveyancing transactions at the SGM in September 2013 a small Working Party of the Society's Council has been established to meet with the Council of Mortgage Lenders (CML) with a view to negotiation of the CML Handbook in order to frame fairer and more relevant rules for Scotland.

I understand that the Working Party has met twice and talks have commenced and progress has been made in relation to the proposed amendment of the CML Handbook in order to make it more suitable to reflect Scottish practice and procedure.  

Any changes to the CML Handbook require to approval by the CML Legal Advisory Panel and Handbook Oversight Group before final sign off by a sub group of the CML Executive Committee. A full progress report will be provided to the Society's members at the AGM on 4 April 2014.

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