BSA Mortgage Instructions
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Cambridge Conveyancing Panel Now Open to Licensed Conveyancers
Cambridge Building Society has lifted the restriction on Licensed Conveyancers joining its conveyancing panel. New requirements include having at least two partners, a minimum indemnity cover of two million, listing in specified law directories, and secure premises. The East Anglia location requirement is also removed. Updates can be accessed via Lexsure.
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Summary of Pros and Cons of Separate Representation
Advantages Clarity of the obligations of solicitors and removal of any possibility of a conflict of interest arising, thus ensuring that clients on both sides of a security transaction receive truly independent advice. Reduction in the number of negligence claims arising from breach of CML Handbook or BSA Mortgage Instructions. Ultimately this should reduce the cost of PI…