CML urges conveyancers to join CQS
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Conveyancers are being urged to join the Law Society’s Conveyancing Quality Scheme amid warnings accreditation will soon become a standard expectation.
The Law Society says more than 700 firms have so far applied to join the CQS and it will begin a consumer advertising campaign at the end of April, after which conveyancers should expect to be asked by lender and consumer clients whether their firms are accredited under the CQS.
The Council of Mortgage Lenders has declared its support for the scheme and is also encouraging conveyancers to apply to join.
The trade body hopes the CQS will created a trusted conveyancing community that will deter fraud, recognise high quality services for home buyers and lenders and deliver a robust assessment and monitoring procedure for solicitor firms.
Once the CQS achieves the Law Society’s goal of providing a confidence boost for the lender market, the CML expects it to become a prerequisite for membership of lenders’ conveyancing panels.
Michael Coogan, director general of the CML, says the trade body has been working closely with the Law Society as it develops the CQS.
He says: “We are encouraged by the initial interest from solicitor firms who have already applied to the scheme. We urge conveyancing firms to join the scheme, and to do so quickly so that their business is not adversely affected.
“Any conveyancing firm that wants to continue to act on behalf of lenders should expect the CQS to become an important new criterion for panel management, and expect to be asked by their clients whether their firm has been accredited.”
Linda Lee, president of the Law Society, adds: “In our ongoing talks on the wider issue of membership of mortgage lender panels with the CML and major lenders, it is clear that there is support for the CQS.
“Not only will it help deter fraud, it also drives up practice management standards and provides a beacon of quality for home buyers.”
Firms wishing to achieve CQS accreditation will need to comply with a number of enhanced standards, including extensive identity checks on all relevant members of staff, while the Law Society will carry out random monitoring and assessment visits on accredited firms.
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