LM04 Searches

Lenders regularly change their Part 2 policies. So much so that there is a 50% chance that a lender will change their instructions during the life-cycle of a purchase case, where there is a mortgage. The LM04 is an essential pre-completion search enabling conveyancers to check for changes to a lender’s Part 2 instructions before submitting their CoT.

A search of the Lender Policy Database is typically carried out just prior to the request to draw down funds and covers the period from when the documentation on the transaction was first reviewed. If changes have occurred during this period, the Search will highlight the original and new text within the relevant sections of the Policy.

If no changes have occurred, the search results will reflect this as well. Shortly after you submit the search request, the results will be emailed as a PDF.