Friday, 18 September 2015

Coventry Building Society sets new Conveyancing Requirements for B2L

Lawyers on the Coventry Building Society conveyancing panel need to take note of the latest change to section 6..6.1 of lenders CML Handbook PII.

A new provision was added yesterday stating: 'Legal representative to ensure that where the property is located within a designated selective licensing area under Part 3 of the Housing Act 2004 a licence has been granted by the local authority in respect of the property.'

I am expecting a number of lenders to make similar changes in the coming months. Some lenders may well use the CML Handbook to make it clear where they do not lend to landlords with properties covered by selective licensing.
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1 comment:

  1. Unknown19 September 2015 at 15:23

    Simon, does a local authority search tell the conveyancer whether a property is in a selective licensing area?

    ReplyDelete

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