From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

  1. Home
  2. Policy
  3. Consultation responses
  4. Updating the Land Registration Act 2002: A Consultation Paper

Updating the Land Registration Act 2002: A Consultation Paper

Last updated: 30 Jun 2016

Consulting body:
Law Commission
Status:
Closed
Period of consultation:
Runs from 31 March 2016 to 30 June 2016
CML action:
Response submitted

The Law Commission published a consultation on Land Registration following a review of the Land Registration Act 2002, with a view to making recommendations to update the Act.  

Aspects of the review which will be of interest to lenders and those who have lender clients include:

  • The circumstances in which the register may be rectified
  • Whether the application of the Land Registry’s indemnity scheme to mortgagees should continue, particularly in the context of registered title fraud
  • The rules governing the circumstances in which further advances may be made on the security of an existing charge
  • Use of the land registration system to protect contractual obligations entered into by borrowers not to create further charges over the land

The CML has responded to the Law Commission consultation on the Land Registration Act 2002.  We have cautioned against radical reform of the indemnity scheme, especially in light of the uncertainty around the future operation of the Land Registry, and wider economic uncertainty. 

Download the full response below.