Tag: Lenders’ handbook
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No Summer Slowdown When it Comes to Lender Handbook Changes
The three month period between June and September 2018 witnessed significant activity when it came to lenders changing their Handbook instructions. Conveyancers may have taken a well earned break during the summer but lenders did not rest when it came to altering their requirements for panel firms. Here are some of the facts and figures:…
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Lender File Requests: Do you feel lucky?
Receiving a letter from a lender requesting a number of your firm’s conveyancing files is like playing out the “Do You Feel Lucky” scene from the movie Dirty Harry. One day things feel great in the conveyancing department and the next day the pesky lender – a ‘so called’ client – is on your case.…
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Search Insurance : What The Mortgage Lender Says
In the last 18 months 12 lenders have changed their Part 2 Handbook instructions relating to 5.4.6. That particular section addresses the question ‘ Does the lender accept search insurance and, if yes, what are the lender’s specific requirements? Even though some lenders dictate a blanket refusal of search insurance many lenders will accept depending…
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Maple syrup with your lender update, sir?
The Lexsure Academy has seen a ten-fold increase in bookings for their in-house ‘power hour’ training in the last in the last year. And there’s a rising trend for mixing things up by scheduling a morning course. Nutritionists often say that breakfast is the most important meal of the day, but how many of your…
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'All Monies Charges': A Threat to Law Firms
The recent news that the majority of the top ten lenders have declared they will use ‘all monies charges’ to repossess homes if borrowers struggle with non-mortgage debts should be cause for concern to conveyancing practitioners. File Reviews for Handbook Compliance More repossessions equals increased file reviews and inevitably the spotlight being placed on the…
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Lenders Who Made Changes to Their Handbook in September 2017
A number of lenders made changes to their Handbook last month. Perhaps not surprisingly some focused on changes to leasehold requirements. Examples of lenders who made changes (England and Wales region) include: Yorkshire Building Society (2 sections) Scottish Widows Bank (5 sections) Swansea Building Society (1 section) Chelsea Building Society (2 sections) Market Harborough Building made set an…