LENDERmonitor is an on-line service which, on a daily basis, examines all of the published individual lender requirements from both the CML and BSA and analyses them for any changes.

Undertaking an LM04 Lender Policy Search allows you to establish if there have been any changes to lenders’ policy over a specified date range. Typically this should be carried out just prior to the request to drawdown funds and will cover the period from when the documentation on the transaction was first reviewed. This is usually about 2 to 3 months but is limited to 6 months – which corresponds to the limit imposed on a mortgage offer. If changes have occurred during the period, the Search will highlight the original and new text within the relevant sections of the Policy. Conversely if no changes have occurred the Search results will reflect this. A short while after you submit the search request, the results will be returned to you via email in PDF format.

Whilst the CML website provides the most recent version of a lender's individual requirements, they do not highlight the changes that may have been made over the course of a transaction. Using LENDERmonitor's unique LM04 Lender Policy Search, one can simply and quickly ascertain, by Lender, over any date range, whether there have been changes, and if so what these are. For this reason, the CML recommend that an LMO4 is undertaken on each transaction.

Yes. You may either set up a user account directly with us (a two-minute process) or set up an account via your search provider if they have adopted this service.

The LM04 Search is currently offered at the introductory price of £5.00 plus VAT per search, invoiced by Landmark Information Group or your search provider.

You will either be invoiced by Landmark Information Group or your search provider.

Yes. Once your account is set up, you need at least one person to act as the administrator. This person is able to centrally manage the account, including adding, deleting and amending users as well as updating contact details. There is no charge for additional users. Users must not share passwords.

Invoices will identify to which transaction each search relates.

Yes.

This is not a problem as you can search for all changes made by a specific lender up to 6 months prior to today's date.

Yes, simply select the appropriate region from the drop-down menu.