They are designed to apply when a solicitor or licensed conveyancer is acting only for a lender, rather than for both lender and borrower, in house purchase transactions.
The new instructions will form a new part of the CML Lenders Handbook for conveyancers, and will take effect in England and Wales from 2 July.
The CLC has welcomed the move, and interim chief executive June Mulroy said: "Licensed conveyancers are represented on lender panels, and also offer a high level of focus and expertise to individual borrowers who want to use their own conveyancer outside the lender's panel.
"Experience of fraud among licensed conveyancers is the lowest in the conveyancing market. The new instructions provide useful clarity for all conveyancers on separate representation cases."
For more information, visit the CML website.
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