Arrears and possessions
The following issue updates are available for Arrears and possessions.
Advice agencies
8 August 2008 | This policy page includes work by advice agencies such as Citizens Advice and Shelter and also summarises liaison between such organisations and the CML.
Arrears and repossessions
28 November 2008 | This page provides a summary of issues relating to arrears and possessions including our recently published guidance. It has been updated to include the announcement by the Financial Services Authority that it has written to Chief Executive Officers of all mortgage lenders to ensure that customers facing arrears are being treated fairly.
Citizens Advice Bureau report: Set up to fail - CAB clients' experience of mortgage and secured loan arrears problems
30 July 2008 | The Citizens Advice Bureau (CAB)has published its report "Set up to fail - CAB clients' experience of mortgage and secured loan arrears problems". This page sets out our views on that report.
Claims Management Companies
28 November 2008 | This page provides information about claims management companies and how they are regulated by the Ministry of Justice.
CML voluntary statement on s101 of the Law of Property Act 1925 following the Horsham Properties v Clark and Beech case
15 December 2008 | The case of Horsahm Properties v Clark and Beech has raised concerns that lenders will appoint receivers to avoid taking court action when seeking to possess a residential owner occupied property. The CML's Executive Committee has approved a statement on this case to allay these concerns.
Codes and Statements of Practice
21 November 2008 | This page provides information about a number of Codes and Statements of Practice which CML members have historically been asked to comply with.
FSA buy-to-let thematic review
10 November 2008 | The FSA has shared with lenders a summary of the findings of its thematic review of buy-to-let lending.
Homelessness etc. (Scotland) Act 2003
28 October 2008 | Under Section 11 of the Act, a lender holding a standard security over a residential property in Scotland will be required to give notice to the local authority where the property is situated when they issue a calling up notice, default notice or make an application to the court for a warrant of possession under a standard security.
Money Advice Liaison Group
12 August 2008 | The Money Advice Liaison Group has published guidelines for lenders dealing with customers experiencing mental health issues.
Mortgage rescue in England
5 January 2009 | Updated to include details of the pilot local authorities and answers to frequently asked questions by lenders.
Possession claims online (PCOL)
30 July 2008 | The possession claims online (PCOL) project aims to deliver a web-enabled application to manage claims in county courts for possession of residential property.
Possessions register
6 August 2008 | Provides background and guidance on the CML possessions register.
Pre-action protocol
23 December 2008 | This page summarises the position on the Civil Justice Council's proposals for a mortgage pre-action protocol. A final form protocol has now been published with an implementation date for cases issued from 19 November 2008.
Sale and rent back/ sale and lease back companies
15 October 2008 | Updated to include the publication of the OFT report which recommends statutory regulation of sale and rent back companies.
Shortfalls on interest-only mortgages
21 November 2008 | On 19 May 2006, the FSA published its consumer fact sheet "Will your investment or savings plan pay off your mortgage?". The fact sheet provides information to consumers facing a shortfall at the end of the mortgage term.
Tenant default - termination of tenancies
30 July 2008 | The Law Commission has published its proposals and draft bill for reforming the law on the termination of tenancies for tenant default.
