The Council for Mortgage Lenders (CML) issue a Handbook which provides instructions for conveyancers acting on behalf of lenders in residential conveyancing transactions. A Handbook is provided for each legal jurisdiction in the UK. The Handbook changes from time to time and conveyancers require to keep themselves up to date with any amendments made to the Handbook.
The Government announced the Property Misdescription Act (“PMA”) is to be repealed in late 2013 in line with the Government’s policy to repeal unnecessary legislation. It is considered that the provisions of the Consumer Protection from Unfair Trading Regulations 2008 (“the CPRs”) provide a better mechanism to protect property buyers.
These Regulations relate to landlords who let domestic property and are designed to eliminate unjust withholding of deposits and to protect deposits during the period of the Tenancy Agreement. They are expected to become operational in April 2012.