CML makes changes to Lenders' Handbook in Scotland
Published: 7 May 2015 | Author: Bernard Clarke
New amendments to the CML Lenders’ Handbook in Scotland come into effect a month from now. The changes are the culmination of constructive work between lenders and the Law Society of Scotland that began in 2013, and they take effect from 8 June.
The main changes are:
- Amendments to include the introduction of the Land and Building Transactions Tax in Scotland.
- Modifications to reflect the Land Registration (Scotland) Act 2013, which came into effect in December last year.
- Revisions to the section on good and marketable title in Scotland to reflect changes already made in the Handbook for England and Wales.
The amendments were agreed by the Handbook oversight committee in April and follow on from other changes made in December last year.