Gen H COT Policy

Posted on behalf of Gen H:

We have noted that firms on our LMS panel are repeatedly breaching our certificate of title (COT) policy, by frequently submitting cases completing in less than three working days. Whilst we will always do our best to approve exceptional cases, these timelines are put in place to ensure that funds are available to support your client’s purchase/remortgage. In line with FCA guidelines, certificate of titles should be subject to reasonable scrutiny in order to prevent financial crime. We take this matter seriously, which can lead to late submissions being rejected if we lack the capacity to perform the necessary due diligence. In future, please do your best to stay in line with our COT policy. We understand exceptions are sometimes necessary, but if we find any firm continuing to neglect our requirements we will be reviewing panel status.