Conveyancing solicitors on the Rooftop Mortgages Conveyancing Panel can, as from today, carry out personal local authority searches as opposed to being required to carry out official searches. In a change to the lender's CML Handbook Part Two requirements the answer to section 5.4.5 ( Does the lender accept personal searches and, if yes, what are the lender's requirements? ) now reads : 'Yes provided the firm is registered with the Council of Property Search Organisations and subscribes to the Search Code monitored by the Property Codes Compliance Board and also that the requirements under sections 5.4.7 and 5.4.8 of Part 1 are met.' JP Morgan Chase Bank have made a similar change to the CML Handbook Part 2 section. The changes come hot on the heals of Lloyds deciding to amend its part 2 of the CML Lenders Handbook to recommend to lawyers on the Lloyds Conveyancing Panel that, when they are using personal searches, they should be supplied by subscribers to the...
This blog is for CQS accredited firms in England and Wales. Including topics like the Conveyancing process, Conveyancing Policy Templates and Conveyancing case law. As it contains everything about conveyancing and conveyancers it should be of particular interest to property lawyers and property solicitors, as well as COLP and Compliance Managers.