LENDERmonitor LM04 Lender Policy Search
TABLE OF CHARGES
All sums subject to VAT at prevailing rates.
|LM04 Lender Policy Search||£5.50 per search
Monthly license fee £5 plus VAT per registered user
LM04 Lender Policy Search
Lenders regularly change their Part 2 policies. In fact, statistically, there is a 50% chance that a lender will change their instructions during the lifecycle of a purchase case where there is a mortgage. The LM04 enables conveyancers to easily carry out a search before submitting their COT to the Lender and ensure that there are no changes to the Policy that may leave them exposed.
A search of the Lender Policy Database is typically carried out just prior to the request to drawdown funds and covers the period from when the documentation on the transaction was first reviewed. If changes have occurred during this period, the Search will highlight the original and new text within the relevant sections of the Policy. If no changes have occurred, the search results will reflect this as well. Shortly after you submit the search request, the results will be emailed as a PDF.
How to Sign up to LENDERmonitor LM04 Search
In order to carry out LM04 Lender Policy Searches, your firm will need to have an account. If you do not have an account please click here to set one up.