CQS CPMS is evolving. Ready for the changes?

Effective May 2022, modifications to the Conveyancing Quality Scheme (CQS) practices for Part 2 of the UK Finance Lenders' Handbook will be implemented. The newly introduced Core Practice Management Standards (CPMS) by CQS outline updated procedural guidelines for Part 2 of the handbook, mandating adherence.

6.4(b) of the the new CPMs requires that firms must have a process that involves a fee earner reviewing Part 2 of the UK Finance Lenders' Handbook. This review should aim to identify both the lender's general standards and any transaction-specific requirements. Additionally, the procedure should ensure the verification of compliance with all identified requirements before the exchange takes place. Document the completion of this check on the file.

CQS firms will need to ensure that their Dealing with Lender Policy sets out the process for complying with 6.4(b).

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