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Home Charter Committee issue communication regarding searches – 29th October 2013

Home Charter Committee have made new recommendations regarding provision of searches in mortgageee in possession conveyancing.

In order to comply with the Scheme, the Home Charter Committee consider that up to date Bankruptcy and EJO Searches should be provided against the defaulting borrower in all cases by the solicitors for the mortgagees in possession. If the defaulting borrower is an incorporated body, an up to date search in the Companies Registry against the defaulting borrower should also be provided in addition to the up to date Bankruptcy and EJO Searches.

The Committee also recommend that copy Bankruptcy and EJO Searches against the relevant lender/mortgagee in possession obtained within the past six months should be provided by the solicitors for the mortgagee in possession to the purchasers’ solicitors.

The Committee have stated that failure to provide searches in these cases amounts to a breach of the Home Charter Scheme.