CML Part 2
Historical articles on lenders’ Part 2 requirements in the former CML Lenders’ Handbook, including changes to conveyancing instructions on property, borrowers and reporting to lenders. Check the instructions applicable to the lender and transaction date.
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HSBC Introduces Independent Advice Requirements for 'Unequal' Borrowers
Historical update: This article records an HSBC Part 2 requirement reported in December 2016. It should not be used as a statement of the lender’s current independent-advice requirements. To investigate what HSBC required on an earlier transaction date, read our guide to the HSBC Lender Handbook Archive. In a recent change to their CML Handbook…
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Kensington Opens Doors to HMOs..But…
Kensington Mortgages have changed their attitude and CML Handbook instructions relating to houses in multiple occupation. Up until yesterday the lender specified via Part 2 Section 6.6.4 that it would not lend where the property came within the definition of a house in multiple occupation? The new answer to Section 6.6.4 reads: Yes, on the basis that…