Skip to main content

Busy October for CML Handbook Changes

By


October 2016 proved to be a busy October when it came to changes to lenders' Part 2 sections of the CML Handbook. 31 lenders made changes. This compares to 10  lenders in the same month 2015, 17 in 2014 and 24 in 2013.

159 sections were changed with the most top ten most changed sections being :

Times changed
Section
Question
13
6.7.1       
What new home warranty schemes are acceptable to the lender?
10
5.1.1       
If different from 1.11, the contact point if the seller has owned the property for less than 6 months:
4
5.14.1      
What minimum unexpired lease term does the lender accept?
3
6.6.4       
Does the lender lend where the property comes within the definition of a house in multiple occupation?  If yes, what are your requirements?    
2
5.4.4       
Does the lender want to receive environmental or contaminated land reports?
2
14.2.1      
Where should the title deeds and documents be sent?
2
14.2.2      
Which documents must I send after completion?
2
14.1.5      
Does the lender need to be sent the original mortgage deed and/or any other original title documents?
2
6.6.1       
If different from 1.11, contact point if property is let/to be let and to check you lend on buy-to-let:
2
5.8.5       
 Does the lender accept security which comprises one of two leasehold flats in a building where the borrower also owns the freehold reversion of the other flat and the other leaseholder owns the freehold reversion in the borrower's flat? If so, are there any specific requirements?


The more notable changes in October were (in no particular order):


Other lenders who made changes in October include :

Adam & Company
Bank of Cyprus UK
Bank of Ireland (UK) plc
Bank of Ireland as Bank of Ireland Mortgages
Bank of Scotland Beginning A
Bank of Scotland Beginning O
Coutts
Coutts Finance Co
Darlington Building Society
Godiva Mortgages Ltd
Hampden & Co plc
HSBC Bank plc
Intelligent Finance
ITL Mortgages
Leeds Building Society
Lloyds Bank plc pre fixed 20/40
Lloyds Bank plc pre fixed 50/30/77
Lloyds TSB Scotland plc
Loughborough Building Society
Monmouthshire Building Society
Nationwide Building Society
Precise Mortgages (Charter Court Financial Services Ltd)
The Mortgage Business
Tipton & Coseley Building Society
TSB Bank plc
Vida Homeloans


Comments

Post a Comment

Popular posts from this blog

FCA AML Audit: Financial Regulator Takes Over Legal Oversight!

By
The UK government has dropped a regulatory bombshell that will fundamentally reshape your life, and yes, we are talking about the dreaded FCA AML audit. For years, you’ve been supervised by your legal peers, the SRA, but those days of relative comfort are drawing to a close. The big news? Responsibility for Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) supervision for the legal and accountancy sectors is being handed over to the Financial Conduct Authority (FCA. That's right, the same folks who put the fear of God into the big banks are now coming for your conveyancing files. Cue the dramatic music. What does the FCA take-over actually mean? Forget the gentle nudge; prepare for the financial services full-body search. An FCA AML audit is likely to look a lot more like a detailed financial inspection and a lot less like a polite chat with the SRA. Think maximum emphasison: Ironclad AML documentation (no more "it's in my head" polici...
Post a Comment
Read more

December 2025: The SRA’s AML Audit Crackdown Has Arrived

By
The Solicitors Regulation Authority (SRA) isn't sending Christmas cards this year. They're sending in the AML auditors. Despite the upcoming shift where the FCA will assume wider AML regulatory oversight, the Solicitors Regulation Authority (SRA) is turning up the heat one last time. Forget a gentle warning—welcome to the AML Blitz of December 2025 . Let’s cut to the chase. SRA Chief Executive Paul Philip is clearly done with excuses. His public message is unambiguous: "We are still finding fairly basic deficiencies in AML arrangements within firms." Translation for the Partners: You might effortlessly navigate a complex, multi-million-pound merger, but somehow, you still haven't nailed your fundamental firm-wide risk assessment. The era of the gentle wrist-slap is officially over. The SRA has made it clear that fines are "continually going up." AML Compliance is no longer a 'nice-to-have'—it’s an expensive, enforced reality...
Post a Comment
Read more

FCA AML Audit: Why Solicitors Time to Rethink AML Compliance

By
If you’re a partner or a compliance officer at a law firm, I want you to take a quick second and think about your last AML review. Was it a check the box exercise to keep the SRA happy? If the answer is yes, we need to have a serious chat. The regulatory landscape for solicitors is shifting fast . The Financial Conduct Authority (FCA) is stepping onto the field with a much more active role, and they play a much tougher game than we've seen in the past. Today, we’re breaking down why the FCA AML Audit is the new essential safeguard—and why "good enough" policies just won't cut it anymore. Why the "Old Way" of AML is Riskier Than Ever Historically, many of us approached AML compliance through a traditional SRA lens. But let’s be real: that approach is becoming a major liability. The FCA’s style is risk-based, evidence-focused, and—most importantly outcome-driven. They don’t just want to see your manual; they want to see your proof. ...
Post a Comment
Read more