<b><b>A new initiative from mortgage lenders will require all new homes to be signed off by a warranty organisation before funds are released. This move has major implications for NHBC and for all developers. Housebuilder reports</b></b><br><b>The housebuilding industry is facing a change to the new home selling process that will have far-reaching implications for housebuilders, solicitors, mortgage lenders, warranty providers and home buyers alike. The &amp;“CML initiative&amp;”, as it is known, was devised late last year by the London Evening Standard journalist, Mira Bar-Hillel, and the Halifax Building Society, to put a stop to homes being sold and occupied before they are finished. </b><br><b><b>finalled, then funds</b></b><br> The CML (Council of Mortgage lenders) is planning to amend its lenders&amp;’ handbook to bring in changes from April 2003. To achieve this there will be a significant new clause. This will require confirmation by solicitors and licensed conveyancers working on behalf of purchasers, that the home has been signed off - &amp;“finalled&amp;” - by NHBC or another warranty organisation and that there is a full warranty in place. Only then will the mortgage lender release funds for the sale to go ahead. Effectively this means that the sale will not take place until …