The Lenders’ Handbook - A Guide to Professional Duties for Conveyancers

Introduction

The UK Finance Lenders’ Handbook sets out mortgagees’ instructions to conveyancers, but its numerous clauses are loaded with pitfalls for the unwary practitioner. Moreover, there have been important cases that have clarified the extent of a conveyancer’s duty owed to a lender-client.

This virtual classroom seminar is designed to consider key issues that residential conveyancers must grapple with when acting for lenders.

What You Will Learn

This live and interactive session will cover the following:

• Addressing concerns about rent charges and section 121 LPA 1925 remedies
• Considering practical lessons to be learned from key negligence cases brought against conveyancers by lenders
• Explaining why a short period of ownership is a lender concern
• Safeguarding the lender against the risk of mortgage fraud
• Why is it important for the seller’s conveyancer to adopt the Law Society’s Code for Completion?
• Exploring when a lender may not accept a flying freehold, even with an indemnity policy
• How far do you need to go in order to investigate suspected planning and building regulations breaches?
• Purchase price: Discrepancies and reporting requirements
• New builds: Terms of NHBC cover (including for flats) and acceptability of architect's certificates - Disclosure and reporting of incentives
• Section 106 agreements are mentioned but what about the Community Infrastructure Levy?
• Building works in breach of restrictive covenant: reasonable enquiries to be made
• The Handbook’s detailed instructions concerning leasehold properties, such as defective leases, service charges, ground rents and management company
• Lender requesting borrower’s file: can you refuse to release it?
• Bankruptcy entries & transfers at undervalue
• Restrictions and pre-emption rights
• Selected key Part 2 requirements
• Landlord Certificate required for relevant building

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.