Text for Report on Title
ROT: Pre-exchange LM04 Search to Check Lender Instructions (Leasehold adaptation in light of LRA)
- Change date
- 19/07/2022
- Word count
- 169
- Deployment measure
- 7/10
Rationale
6.4b of the 2022 CQS (CPMS) sets out that firms need to ensure that Part 2 of the UK Finance Handbook is checked by a fee earner to ascertain the lender’s standard requirements, as well as those specific to a transaction, and for verifying that all of those requirements have been satisfied, prior to exchange. Lenders are making significant changes to their P2s in light of the LRA .
All law firms are obliged to stay abreast of lender's instructions. In order to achieve this we use the services of Lexsure Limited, a company registered in England and Wales
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