Tag: BSA
-
Building Society Panel on Notice of Tighter Minimum Lease Terms
The trend for lenders to shy away from more complicated properties continued yesterday with Tipton Coseley Building Society adding ten years to their mortgage instructions relating to minimum lease terms. Tipton publish their specific requirements via the BSA website. To see the old wording and new wording for this change click here. This change comes…
-
When extending a “priority search” is not enough !
One major difference between the BSA instructions, introduced last month, and the CML Handbook is additional clauses dealing with the registration of mortgages where a priority period has expired. Clause E.30 states “If you cannot register our mortgage within the priority period afforded by your Land Registry Search made before completion you must register a…
-
BSA releases their conveyancing requirements
The BSA’s Mortgage Instructions launched today provide a full set of conveyancing instructions for conveyencers acting on behalf of BSA Members and their subsidiaries in residential conveyancing transactions. The Instructions come into full effect from 1 January 2010. The conveyancing Instructions are being used by 31 lenders including 27 building societies. The BSA Mortgage Instructions…