Amendments to mortgage lending rules due to come into force next year will delay a large proportion of new home sales unless housebuilders prepare for the changes in good time.<p></p><p>The Council of Mortgage Lenders is altering its lending guidelines so that funds will only be released to borrowers after a new home has been successfully &amp;“signed off&amp;” by a warranty organisation.</p><p>The National House-Building Council has been working on new systems for &amp;“signing off&amp;” or &amp;“finalling&amp;” new homes to ensure it can perform efficiently and quickly and ease any disruption caused by the changes. NHBC has been testing these systems in the south west and South Wales for almost a year, and data gathered in this exercise has revealed that once the CML initiative is introduced, a considerable number of sales could be held up. </p><p>NHBC says that housebuilders need to prepare now for the change to ensure that houses are finished and signed off well ahead of legal completion to avoid disappointing customers.</p><p>Neil Jefferson, NHBC head of registration, said: &amp;“In preparation for the introduction of the CML initiative NHBC has been developing its systems to support builders and to minimise unnecessary delays in the finalling process and make sure that …