On 30 November 2015, the Council of Mortgage Lenders (CML) will amend the requirements relating to building insurance in part 2 of the Handbook. There will no longer be an additional list of requirements from the lender relating to buildings insurance in part 2 of the Handbook.

The changes will only relate to certificates of title lodged from and including 30 November. Similar changes will be made in Northern Ireland and Scotland.

The Part 1 provision will remain so that solicitors should continue to make reasonable enquiries of the borrower that buildings insurance cover has been arranged for the property no later than completion.

The obligation will remain on solicitors to remind the borrower that they must:

  • have buildings insurance in place in accordance with their mortgage conditions no later than completion
  • maintain cover for the whole of the mortgage term.