Lender Conveyancing Panel
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Coventry Building Society sets new Conveyancing Requirements for B2L
Lawyers on the Coventry Building Society conveyancing panel should be aware of an update to section 6.6.1 of the CML Handbook PII, which now requires legal representatives to verify that properties in selective licensing areas have received local authority licenses. Similar updates from other lenders are anticipated soon.
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Platform Home Loans Conveyancing Panel Alert – Minimum Lease Term
Mortgage lenders are tightening criteria for properties with short unexpired lease terms. Platform Home Loans has increased its minimum acceptable lease length from 50 years to 70 years, aligning with major peers. Conveyancers must audit active files for compliance and seize opportunities for lease extensions amid these stricter requirements, impacting transactions significantly.