About CQS Conveyancing

If a conveyancing lawyer were to identify the period where they were under the most pressure it would be the last quarter of the year,being the lead-up to the seasonal holidays. Buyers and sellers agreeing a house sale or purchase almost invariably focus on completing the deal ahead of the Christmas break. Home movers, estate agents and brokers will be emailing and calling more than any other time of the year to ensure that deadlines are met. Many lawyers have a voice in their head saying ‘if only I could be left alone to get on with the work....’ The last thing a lawyer needs is a client changing their instructions frequently during this frenetic period. As my mum used to say ‘ I need that like a hole in the head’. Yet for the last few years lenders - the most common client for many a property lawyer - pick this time of year to make their most frequent changes. The proof is in the Christmas pudding … take a look at these charts.

This week three lenders followed HSBC's lead* in using the CML Handbook Part 2 to set out their conveyancing instructions relating to Japanese Knotweed. What should otherwise be a simple ”yes-or no” to question 5.4.4  instead stands as just the latest example of how lenders can utilise Part 2 of the CML Handbook to heap more complex and onerous disclosure obligations on their conveyancing panel lawyers. But, since nothing is ever simple when it comes to CML Handbook Part 2 compliance, the question “Does the lender want to receive environmental or contaminated land reports?” is the jumping off point for lenders to shoehorn in obligations that encroach upon what would normally expect of a surveyor. In-fact up until recently the answer that Coventry Building Society , Godiva Mortgages and ITL gave to the aforementioned question about sending reports to a lander was a simple 'No' These lenders have now changed their answer to : Generally no. In relation to Japanese ...

I can understand why a conveyancing lawyer might have a persecution complex. During the last twenty years the industry has been subjected to ever more risks at a time when fees are being driven down. As if to add salt into the wound, it is often to lawyers who are the first port of all when it come to claiming compensation when things go wrong. In the last couple of years there has been a dramatic increase in occurrences of online fraud cases affecting conveyancing – sometimes resulting in house buyers losing hundreds of thousands of pounds. Whether you call it ‘cyber crime’ or ‘Friday afternoon fraud’ this is where fraudsters hack into the email accounts of either the client or solicitor, recognising the fact that many solicitors now use email as the preferred method of communication with clients. The most common scam sees fake emails sent to either party – the client or solicitor – instructing them to divert large payments to the hacker’s bank account, often during the f...

Kensington Mortgages have changed their attitude and CML Handbook instructions relating to houses in multiple occupation. Up until yesterday the lender specified via Part 2 Section 6.6.4 that  it would not lend where the property came within the definition of a house in multiple occupation?  The new answer to Section 6.6.4 reads: Yes, on the basis that the property is let on an Assured Shorthold Tenancy and any required local authority licence is in place. Please provide confirmation prior to Completion if the property falls within the definition of a house in multiple occupancy as this facility is only available on specific Buy to Let schemes. Lawyers on the Kensington Mortgages conveyancing  panel should pay particular attention to the caveat and disclosure obligations. 

October 2016 proved to be a busy October when it came to changes to lenders' Part 2 sections of the CML Handbook. 31 lenders made changes. This compares to 10  lenders in the same month 2015, 17 in 2014 and 24 in 2013. 159 sections were changed with the most top ten most changed sections being : Times changed Section Question 13 6.7.1        What new home warranty schemes are acceptable to the lender? 10 5.1.1        If different from 1.11, the contact point if the seller has owned the property for less than 6 months: 4 5.14.1       What minimum unexpired lease term does the lender accept? 3 6.6.4        Does the lender lend where the property comes within the definition of a house in multiple occupation?  If yes, what are your requirements?     2 5.4.4      ...

Conveyancing fraud is on the rise and the consequences for victims are devastating and often life-changing. It is a major concern for law firms and PI Insurers alike.   New figures show that the rewards for the gangs are potentially huge, with each successful scam worth on average more than £112,000. It is believed that fraudsters are currently carrying out two successful conveyancing frauds a week, earning them in the region of £225,000 a week. The criminals hack into the email chains between sellers and buyers and their solicitors and estate agents. The fraudsters then send an email – usually on the day of sale completion – informing the parties that bank account details have changed at the last minute and that money should be deposited in a different account. Lexsure have some interesting thoughts on how some criminal gangs may be starting the ‘phishing’ process and accessing email accounts in order to ultimately commit their crime. Conveyancing lawyers freq...