About CQS Conveyancing

Section 5.7 of the 2022 Conveyancing Quality Scheme (CQS) Core Practice Management Standards (CPMS) states that CQS accredited law firms are required to have a Conflict Handling Policy . However, many SROs not know how to write such policies and procedures. We well drafted Conflict Handling Policy will cover the prevention, detection and mitigation of conflicts of interests help your lawyers act in a principled way. Such priciples include: 1. Acting with independence and integrity. 2. Acting in the best interests of your Clients. 3. Keeping the interests of the Client paramount. 4. Refusing act for a Client where you judge it is not in their best interest for you to do so. 5. Refusing to accept instructions from a person nor continue to act for a Client whose interests conflict directly with your own, the entity’s, or another Client.

The primary objective of a Dealing with Lenders Policy is that when acting on a purchase or remortgage, the lender is just as much your client as the borrower. Therefore, one has a professional duty to follow their instructions. This is reinforced in the 2022 CQS Core Pratice Managment Standards . When acting for a lender, fee-earners must take all necessary steps to ensure that the conveyancing services provided do not fall below the ‘reasonably competent’ standard. When conducting conveyancing transactions, fee earners are under a professional obligation to report any relevant matters to the lender that could adversely affect the title to the mortgage property or the value of the security. Dealing with lenders as clients is a high-risk area that conveyancing lawyers do not always appreciate. Claims by UK Finance lenders have accounted for around a quarter of all claims against the profession since the 1980's. It is worth remembering that lender dissatisfaction may lead to ...

Red Flags (excuse the pun) are as follows: Requests to transfer assets between Russian national/dual-national family members Russian clients communicating changes to the beneficial ownership of their private investment companies (PICs) to non-Russian or dual national family members Use of trust arrangements, with circumstances of transfers calling into question whether the original owner retains indirect control or otherwise could retain a benefit from the assets transferred Assets transferred have usually been shares in companies, both UK and overseas, including both minority and controlling stakes in these businesses Payments from venture capital and private equity vehicles, many located in offshore jurisdictions or the far east Clients seeking to move all their assets to other financial institutions and closing their accounts in London Clients domiciled in Russia asking whether they can make transfers to their London account Attempts to purchase sanctioned Russian securities, which ...

Queries on HSBC UK’s Part 2 UK Finance Lenders’ Handbook instructions are not returning the correct responses when the “Part 2 only” option is selected.  This is owing to a technical issue which the UK Finance Lenders’ Handbook platform provider is working to fix.   UK Finance apologises for any inconvenience this might cause. To see the correct HSBC UK Bank plc Part 2 responses, practitioners should select the “Part 1 and Part 2” option.  Update for HSBC Conveyancing Panel Lawyers 25th Dec '23. This appears to have been resolved.  

The Conveyancing Association has updated its building safety guidance document for conveyancing firms. This new version of the guidance, published today, includes updates to the frequently asked questions and answers section, as well as a list of questions all conveyancing firms (regardless of CQS accreditation)  should consider when working on cases with relevant buildings. The new guidance addresses numerous areas for conveyancing lawyers to be cognisant of such as: what is a relevant building; how to determine height; how to determine the number of storeys; what are the relevant defects covered; who is a qualifying leaseholder; the exception of leaseholder-owned buildings; the Leaseholder Deed of Certificate; the evidence required; leaseholder protection; who else might be responsible; the developer, landlord, superior landlord, or the leaseholders; and the landlord certificate. Some CQS firms will want to updates their  CQS CPMS Policy Template Library in light of the abo...

CQS firms are now obliged to make all necessary changes to their policies, controls and procedures (PCPs) and ensure additional training is provided to staff on the changes. The changes to the CQS Core Practice Management Standard (CPMS) were published in February 2022 and took effect from 1 May 2022. Conveyancing firms must carefully read and consider if their existing PCPs and CQS Policy Templates are adequate and evaluate the levels of awareness demonstrated by staff. The following sample CQS Policy Templates are available to purchase but would need to be adapted based on the firm’s specified requirements. Stamp Duty Land Tax CQS Policy Template Policy for dealing with Lender and Reporting matters to Lenders procedure Identification of Property Mortgage Fraud Policy Anti Bribery Template Policy Business Continuity Plan/Policy Anti-Money Laundering Policy Template Information Management and Security Policy Learning and Development Policy Conflict Handling Policy Template Client Car...

Clydesdale Bank have advised that COT’s need to be submitted by 10:30am on the 22nd December and anything submitted after that time will be processed on the 27th December. Clydesdale will be open normal hours on 27th, 28th and 29th December and will be closed on 2nd January due to the Scottish Bank Holiday. Clydesdale Bank conveyancing panel lawyers should take note. 

Ipswich Building Society are to launch Secure Link FAQs and Redemption Statements. Secure Link is an LMS product that allows for a more streamlined conveyancing process whilst improving case query turnaround times, allowing FAQs to be answered almost immediately. Not only does this prevent hold ups in the process as the conveyancing panel law firm awaits an answer, but it frees up more time for all stakeholders to focus on more complex cases or questions that need a bespoke, tailored response. The service also allows law firms to request Ipswich Building Society redemption statement requests quickly and securely through the Secure portal. Some CQS firms may wish to update their schedules to the CQS (CPMS) Dealing With Lender Policy    

The number of law firms registered on the Law Society’s Conveyancing Quality (CQS) Scheme in 2023 was down 166 to 2,723. According to the various UK law societies, there were 11,226 solicitors working in residential conveyancing in October 2023, a fall of 13%, or over 1,600 solicitors, from September 2021. Over two years, there were 455 fewer law firms across the UK that received income from residential conveyancing, leaving 6,308 as of last month. The sharpest drop (7.1%) was in England and Wales, where 366 fewer firms meant a total of 4,760.

Following the recent cyber incident, the Law Society has issued guidance for conveyancing firms highlighting the need to prepare for such an attack before their next professional indemnity insurance (PII) renewal. One question they urge firms to consider is "do your terms of business make clear your liabilities to clients if the firm is subject to a cyber-attack?" Lexsure's recent updates to the Terms and Conditions database deal specifically with Cyber Crime. The updates include the following optional precedent text:  Cyber Risk - Management of Information Sets out various measures that the firm employs to counter cyber crime, including providing bank details in a branded PDF, conducting phone verifications for new clients or changing instructions. This is fairly detailed but helpful wording to protect the firm and client. Guarding Against Cyber Crime Ts and Cs wording warning against cyber fraud. Prohibits the exchange of bank details for online transfers via email, em...