Top Ten Important Changes to Reports on Title 2017
In the last twelve months the conveyancing fraternity witnessed significant changes to Part 2 of the UK Finance Mortgage Lenders’ Handbook. This, combined with the press and government focusing a spotlight on leasehold, resulted in firms considering how they should upgrade their Report on Title.
In response to lender changes and in anticipation of legislative action many new paragraphs were added as optional precedent text to the Lexsure’s Report on Title in 2017 by the network of lawyers using the software.
Here is a list of what I consider to be the Top Ten areas where new paragraphs were indexed in 2017 for future use:
- Ground Rent Escalation
- Remaining Lease Term Less than 90 Years
- High Ground Rent
- Original Lease Term Less than 125
- Source of Funds
- Contributors Towards Purchase Price
- New Build – Long Term Completion Date
- Statutory Matters Concerning Leasehold
- EPC Result – F/G Rating
- Limitation of Enquiries based on Protocol
Firms wishing to be alerted as to new suggested paragraphs should subscribe to the e-ROT Notification Service.
Kindly shared by About Conveyancing