ACTING FOR THE LENDER
Lenders stringent rules require all firms acting for a client to be Conveyancing Quality Scheme (CQS) accredited. Firms who have been unable to meet the necessary conditions of the scheme have suffered. This has resulted in major lenders reducing their panel size such as HSBC and Santander.
Firms without CQS will not only find representing their client difficult, but find their ability to take instructions from new clients impaired. Taylor Rose TTKW’s property team provide a service that enables firms without CQS to continue to operate in the property market.
As a CQS accredited firm we have introduced a service which, for a fixed fee, Taylor Rose TTKW will carry out acting for the lender on your behalf, allowing you to provide a comprehensive service for your clients and remain unhindered by the new requirements set by all major lenders.
It’s a cost-effective service that allows firms without CQS to continue to work with clients to their best capabilities, with the assurance of successful and efficient transactions unaffected by new stringent lender requirements.
The CQS Accreditation
The Conveyancing Quality Scheme (CQS) is an accreditation from the Law Society that provides a recognised standard for conveyancing practices, and offers credibility and confidence to both lenders and clients.
In the first stages of application, the scheme requires firms to undergo an application process which tests every aspect of a conveyancing department and its staff, with training of staff from support to fee earner level, implementation of various security processes such as money laundering checks, and the strict following of the client service charter.
Every twelve months a firm must apply for re-accreditation and prove they still meet the requirements necessary to be a member of the scheme.
The scheme benefits both firms and clients alike, ensuring the following:
- an efficient and high-quality service
- a standardised level of expectations for firms to uphold, providing clear objectives
- staff which are of a higher level of qualification and experience
- recognition of quality for firms from clients, insurers and lenders
For more information please click here to contact our property team.
ASSURANCE OF SUCCESSFUL AND EFFICIENT TRANSACTIONS UNAFFECTED BY NEW STRINGENT LENDER REQUIREMENTS
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