About CQS Conveyancing

Category: CQS Conveyancing

  • Personal Searches: When ‘Yes’ means ‘No’

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    Simon Seaton
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    Kensington Mortgage just changed their Part 2 requirements to 5.4.5 of the Lenders Handbook. The section addressed whether the lender accepts personal searches and, if yes, what are their requirements? The previous answer was: No, we do not accept all personal searches without limitations. Our requirements as to personal searches are as set out in…

  • How do the SRA decide which CQS firms to inspect?

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    Simon Seaton
    in

    The SRA adopt a risk-based approach to AML supervision. The SRA visits a greater number of firms classified as high risk, while also conducting visits to low and medium-risk firms. It is important to note that a visit does not automatically imply that your firm is deemed high risk for potential money laundering activities. To…

  • Sanctions risk assessment: What is involved?

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    Simon Seaton
    in

    Is is considered best practice to align a firm-wide sanctions risk assessment with the requirements of the MLR2017. These regulations outline several risk factors that should be taken into account. They include: The risk assessment must align with the scale and scope of your practice, considering any factors that may influence risk, such as: Whatever…

  • LMS Lender Panel Fee Increase

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    Simon Seaton
    in

    LMS are set to increase the current £25 plus VAT per completion charge to £35 plus VAT for all instructions received on or after 1st March 2024 Instructions received prior to 1st March 2024 will continue to be paid at the current rate. All LMS lender panels remain free to join at the point application…

  • Leeds Building Society – Shared Ownership Mortgage Requirements

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    Simon Seaton
    in

    Leeds Building Society conveyancing panel should be aware that it is a standard offer requirement that Leeds Building Society receives a copy of the Housing Association consent to their mortgage BEFORE funds are released. This lender policy requirement is missed by some firms (CQS or otherwise). Firms need ensure that this is submitted before the…

  • Skipton Sets New BSA Requirements

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    Simon Seaton
    in

    Skipton Building Society have made a number of recent changes to their P2 Handbook instructions. In answer to the question ‘Does the lender have any specific instructions about building safety?’ the new instructions are as follows: ‘Our Offer has been made on the basis that the building is of a construction type (i.e. traditional masonry)…

  • New Nationwide’s CHAPS fees

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    Simon Seaton
    in

    Nationwide Building Society conveyancing panel lawyers should note that the lender has recently updated their CHAPS fee as follows: • For any products reserved on or before 28th November 2023 a CHAPS fee of £20 will be deductible from the loan amount • For any products reserved on the 29th November 2023, no CHAPS fee…

  • What does ‘Quality’ Conveyancing mean?

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    Simon Seaton
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    Does a CQS badge mean that your firm conducts ‘Quality’ conveyancing? Here are some questions worth answering everyone in the conveyancing team… Do the team care enough to do great conveyancing? Can your lawyers actually agree on what ‘quality’ conveyancing looks like? When the legal world changes – and it will – do you actually…

  • CQS Accreditation Price Increases

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    Simon Seaton
    in

    New pricing for larger firms has increased. The new costs are as follows: 5-10 Partners 429(ex VAT) 11-20 Partners 560(ex VAT) 21-50 Partners 690(ex VAT) 51-69 Partners 1214(ex VAT) 70+ Partners 1942(ex VAT)

  • Are referral fees to Estate Agents ‘Unethical’ ?

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    Simon Seaton
    in

    The Australian article raises the question of whether referral fees for conveyancing services are ethical. Queensland’s Law Society senior counsel highlights the risk of conflicts of interest in such arrangements, with real estate agents feeling pressured to demand referral fees.