Tag: 6 month rule
-
Nationwide Building Society – Changes to Conveyancing Panel Instructions
Nationwide Building Society have just made important changes to their CML Handbook Part II instructions. One of the changes that caught my eye relates to the lender’s requirements where the seller has owned the property for less than 6 months. The new answer to 5.1.1 reads : We will not normally lend where there is…
-
6 Month Rule Starting to be Extended By Lenders
In recent years a number of solicitors have been found guilty of professional misconduct after breaching the six month rule requiring conveyancing solicitors, to report any transactions in which the property being purchased/remortgaged has been owned by the owner or registered proprietor for fewer than six months. The rule, contained in the Council of Mortgage…