No Lender Lockdown When It Comes to Changes to Handbook Requirements

In the last three months Lexsure has witnessed significant activity by lenders changing their Handbook requirements.

Whilst firms currently encounter a slowdown in activity from buyers and sellers there is no hold-up in lenders revising their instructions to law firms.

Here are some of the facts and figures:

Lender Sections Changed Separate Events
Barclays Bank UK PLC 27 2
Halifax 3 1
Aldermore Bank 12 4
Coventry Building Society 3 2
Lloyds 2 1
Atom Bank 13 3
HSBC 1 1


During the same period there has been a significant uptake in services such as LENDERmonitor. I can only assume that this is due to anticipated file requests checking for Handbook breaches. Enquiries by firms concerning the LM04 lender policy search increased by 300% compared to the same period last year.

55% of LM04 searches in the last two months revealed lender changes. The most searched lender was HSBC.

With the end of the lockdown approaching and with a large number of transactions having been put on hold, there will be an inevitable rush to submit Certificates on Title to lenders. It’s easy to get tripped up and miss a Handbook change. Now is not the time to cause serious and irreparable damage to your firm by failing to identify changes to lender instructions.


Kindly shared by Simon Seaton, non-practising solicitor