CQS Purchase of a Leasehold Policy
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CQS Purchase of Leasehold Policy: What Firms Must Cover
CQS-accredited firms must maintain a dynamic Leasehold Purchase Policy to comply with evolving legislation, notably the Building Safety Act and LFRA 2024. A stagnant policy indicates poor risk management and non-compliance. Firms should regularly update their policy and Change Control log to align with current lender requirements and legal protections.
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Lender Updates Leasehold Policy
MPowered Mortgages updated their P2 policy for leasehold properties, setting strict guidelines for ground rents, maintenance charges, and property valuations. Legal firms handling CQS should be aware of these changes.