The Council of Mortgage Lenders' handbook was developed by seven major lenders together with the CML and the Law Society. It was created in order to give both lenders and conveyancers greater certainty as to what is to be expected from them.
It has also introduced a number of important changes to conveyancing practice and its comprehensive instructions are planned to improve the overall conveyancing process. The handbook is divided into two parts:
Part 1 sets out the main instructions and guidelines which must be followed by the conveyancers.
Part 2 details each lender's specific requirements which arise from those instructions.
Use of the handbook is not mandatory, but if the individual lender is on the list of those lenders who have adopted it, then the conveyancer should follow the lenders' specific requirements read with the handbook, and not any checklist or suchlike produced by a third party. Only members of the CML and their subsidiaries are allowed to instruct in accordance with the handbook.
Link to Lenders' Handbook for each jurisdiction in the UK