Tag: Zurich Insurance
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Are Bank of Ireland Closing the Door on Leasehold Properties?
Yesterday, Bank of Ireland became the 14th lender this year to change their minimum lease term requirements via amendments to the CML Handbook Instructions. Section 5.14.1 (What minimum unexpired lease term does the lender accept?) used to read “70 years unexpired from the date of completion of the mortgage”. This has now been changed to…
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Timely reminder as to concerns surrounding impact vulnerabilities and independent legal advice
Although not an English ruling, the New South Wales Court of Appeal decision of Provident Capital Ltd v Papa [2013] NSWCA provides timely guidance in relation to a Court’s position on the obligations placed on conveyancing solicitors in relation to lending practices. In their decision the court found that there had been negligence on the…