Wednesday, 26 November 2014

Want a handy guide to explain the next Handbook changes?

Legal risk and compliance experts Lexsure are giving conveyancers a sneak-preview of the most extensive set of CML Handbook changes in twelve years.
The Council of Mortgage Lenders notified Lexsure last month that they intend to publish important amendments to the CML Lenders’ Handbook for England and Wales on 1 December. The changes represent the largest number of revisions made to Part 1 of the Handbook since the second edition of the Handbook was published in 2002. In all, 33 sections, more than 10 % of the Handbook will be amended. It is anticipated that almost all lenders will update their Part 2 requirements on the 1st December or shortly thereafter.
Examples of some of the Handbook sections to be changed include :
4.1 Valuation of the Property
5.5.1 Planning and Building Regulations
5.6.1 Good and marketable title
5.14.13 Leasehold Property
11.2 Signing and witnessing of documents
3.1 and 3.2 Safeguards for solicitors/conveyancers
Lexsure have compiled a free dossier of changes, crucial for law firms who wish to gain an insight into the forthcoming changes.
It would be remiss of me not to thank CML who continue to be very helpful in preparing Lexsure for major changes and enabling us to update theCOMPLETIONmonitor checklist. These changes are significant and some of the implications are far-reaching for the way conveyancers work. As part of our commitment to helping lawyers reduce their risk profiles, Lexsure are happy to make this information available to firms, who can then prepare properly and use the dossier as evidence supporting a Competence Statement for those adopting the new SRA approach to continuing competence.
Law firm’s can request a free Lexsure dossier.
Limited slots are available for a demo of COMPLETIONmonitor which includes the latest Handbook changes – bookings can be made here

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