HSBC have just made important changes to their CML Handbook Part II instructions. An amendment to section 5.8.1 means that they will no longer accept security which comprises a building converted into not more than four flats where the borrower occupies one of those flats and the borrower or another flat owner also owns the freehold of the building and the other flats are subject to long leases.
To see the change click here
It has been a very busy week for lenders making changes to their instructions to lawyers .
The lenders who have made changes this week include:
Ipswich Building Society
Skipton Building Society
Aldermore Bank PLC
Cambridge Building Society
HSBC
Monmouthshire Building Society
National Westminster Bank
Santander
Alliance & Leicester mortgages
RBS
West Bromwich Building Society
West Bromwich Mortgage Company
Leek United Building Society
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