Skip to main content

CML Handbook - Staying on Top of Changes

All mainstream lenders provide their instructions to property lawyers via the CML Handbook or BSA mortgage instructions. Understanding a specific lender’s requirements and keeping up-to-date with changes can be a time-consuming manual process, particularly given that individual requirements can change on a daily basis.


In not addressing or overlooking a lender’s requirements, a solicitor or conveyancer risks being sued by the lender for the full value of the mortgage and their firm could be removed from the lender panel. The previous SRA thematic review into conveyancing revealed that a quarter of firms surveyed had experienced professional negligence claims relating to conveyancing work in the two years.


This free webinar focuses on the more important changes in the last 6 months. It will also highlight trends that are emerging when it comes to lender behaviour in particular in relation to certain types of ‘problematic properties’ for example: short leases, absentee landlords, defective leases etc.


The webinar is scheduled to last half an hour and will be split into four sections.


  • Key statistics and figures in relation to CML Handbook changes (for example most common section changed etc)
  • Significant CML Part 2 Changes in the last six months
  • Trends that are emerging - examples of how lenders react to new and emerging risk by adapting their Part 2 requirements
  • Demonstration of new Technologies are available to assist in CML Handbook compliance


For more information on dates and how to register, please click here.

Comments

Popular posts from this blog

Argie Bargie over Home Information Packs

In response to a question from Conservative MP David Amess on what methodology would be used to use to evaluate the effectiveness of the Home Information Pack programme, Communities and Local Government Minister Ian Austin was involved in heated argument. The wording of the debate ( reported in Hansard ) makes interesting reading, so I thought I would share it with you : Mr. David Amess (Southend, West) (Con): What methodology his Department plans to use to evaluate the effectiveness of the home information pack programme; and if he will make a statement. Mr. Andrew Mackay (Bracknell) (Con): What methodology his Department plans to use to evaluate the effectiveness of the home information pack programme; and if he will make a statement. Mr. David Jones (Clwyd, West) (Con): What methodology his Department plans to use to evaluate the effectiveness of the home information pack programme; and if he will make a statement. The Parliamentary Under-Secretary of State for Communities and Local...

Paperwork is not a shield: Why your SRA aml audit demands more than just a dusty manual

The Solicitors Regulation Authority continues its aggressive crackdown on financial crime with a recent fine issued against Whiteheads Solicitors (Staffordshire) Ltd . This decision serves as a stark reminder that the regulator is looking far beyond simple paperwork during an SRA aml audit . The firm was fined 2,584 GBP plus 600 GBP in costs following an investigation into its compliance with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. While the firm had a firm-wide risk assessment and general policies in place, the SRA identified critical failures at the matter level. Key compliance failures included: Failure to conduct adequate client and matter risk assessments . The SRA found a consistent pattern where the firm failed to sufficiently assess client matter risk levels as required by Regulation 28. Inadequate scrutiny of source of funds . In one specific property transaction, the firm failed to properly investigate the origin of funds provided by ...

The High Street Practitioner’s Guide to Surviving the FCA

For a sole practitioner or the MLRO in a small high-street firm, "AML compliance" often feels like just another mountain of paperwork standing between you and your actual work. When you are juggling a heavy conveyancing caseload, a sensitive probate matter, and the day-to-day survival of your practice, the last thing you need is a new regulator with a reputation for being data-heavy and "zero-tolerance." But the ground is shifting. As the Financial Conduct Authority (FCA) takes over AML supervision from the SRA, the "high-street way" of doing things—relying on long-standing local reputations and gut instinct—is being replaced by a requirement for hard, documented proof. The end of "I’ve known them for years" In a small town, you often act for the same families for generations. You know their business, their parents, and their reputation. Under the old mindset, that felt like enough. Under the FCA, it isn’t. T...