Category: CQS Policy Templates
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Top Ten Important Changes to Reports on Title 2017
In the last twelve months the conveyancing fraternity witnessed significant changes to Part 2 of the UK Finance Mortgage Lenders’ Handbook. This, combined with the press and government focusing a spotlight on leasehold, resulted in firms considering how they should upgraded their Report on Title . In response to lender changes and in anticipation…
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Land Registry Applications – Room for Improvement
I sometimes come across lawyers complaining about how long it takes the Land Registry to register title. According to Andrew Robertson, Head of Customer Policy at the Land Registry responding to a comment on a blog entitled ‘Opening our conveyancer data’ commented ‘… we aren’t able to process in the region of 40% of the…
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About The Author
Simon Seaton qualified as a solicitor and licensed conveyancer and has set up property departments in SRA and CLC regulated firms. He is currently Head Auditor at Lexsure. Simon has been quoted and published in mainstream papers on matters of law and property and has been invited to talk at various professional seminars including the annual…
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'All Monies Charges': A Threat to Law Firms
The recent news that the majority of the top ten lenders have declared they will use ‘all monies charges’ to repossess homes if borrowers struggle with non-mortgage debts should be cause for concern to conveyancing practitioners. File Reviews for Handbook Compliance More repossessions equals increased file reviews and inevitably the spotlight being placed on the…
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Lenders Who Made Changes to Their Handbook in September 2017
A number of lenders made changes to their Handbook last month. Perhaps not surprisingly some focused on changes to leasehold requirements. Examples of lenders who made changes (England and Wales region) include: Yorkshire Building Society (2 sections) Scottish Widows Bank (5 sections) Swansea Building Society (1 section) Chelsea Building Society (2 sections) Market Harborough Building made set an…
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Leasehold is Changing – Is this Reflected in your Report on Title?
Leasehold reform is on the way. Many lenders have already been proactive in making changes for some months now to their P2 Handbook requirements. Is it now time to be making changes to your Report on Title in light of new lender instructions and in anticipation of legislative reform? On the 25th and 26th September…
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CML Lenders’ Handbook to be Renamed on 1st July
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on activities previously carried out by the Asset Based Finance Association,…
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Is Your Firm Updating Their Pre-Completion Checklist ?
Technology, lender compliance and fraud prevention within the context of a pre-competition checklist are some of the main focus points at the next Webinar by Lexsure on 24th and 25th July. Almost all firms have a pre-completion checklist that they use, either on the side of the file or a paper checklist. But how…
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Amendments To CML Lenders’ Handbook – 19 June 2017
The following amendments will be made to the Lenders Handbook for England and Wales, Scotland and Northern Ireland on 19 June 2017: England and Wales A minor amendment to reflect that the FASI and MASI professional qualifications are no longer offered. Scotland Updating the Handbook to reflect the closure of the Register of Sasines to…
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How Can Conveyancers Avoid a "Kodak Moment"
A director of VC company recently advised me that ‘there are only two types of industry left..those that have been disrupted and those that are ripe for disruption’. The legal industry will, sooner or later, witness significant change regardless of how loud the naysayers are. Concluding that because disruption hasn’t happened yet, that it…