Drafting A CQS Dealing with Lender Policy Template

Section 6.4 of the 2022 Conveyancing Quality Scheme (CQS) Core Practice Management Standards (CPMS) requires CQS-accredited law firms to have a Dealing with Lenders Policy in place. However, it has been brought to my attention that SROs face challenges in formulating this particular CQS policy.

A meticulously formulated CQS Dealing with Lenders Policy, should accurately reflect the lender compliance procedures executed by fee earners on matters where a lender is also a client. The policy should include a procedure to ensure UK Finance Handbook is checked by a fee earner to ascertain the lender’s standard instructions (P1), as well as those specific to a transaction (P2). The policy should specify the need for verification that all of those requirements have been satisfied, prior to exchange and recording on the file that the check has been carried out.

CQS members are expected to have had a Dealing with Lenders Policy from 1st May 2022 onwards.

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