Coodes Solicitors are delighted to have secured membership to the Law Society’s Conveyancing Quality Scheme – the mark of excellence for the home buying process.
Coodes underwent rigorous assessment by the Law Society in order to secure CQS status, which marks the firm out as meeting high standards in the residential conveyancing process.
Coodes is one of just 33 firms in the region to have been accredited with the Conveyancing Quality Scheme (CQS) by the Law Society so far.
The scheme aims to create a “trusted community” of practitioners who undergo a strict assessment, compulsory training, self reporting, random audits and annual reviews in order to maintain CQS status.
Alistair Whyte, head of the Residential Property department at Coodes, believes the standard is an initial benchmark that will set the bar higher and higher for quality of conveyancing work in the future.
He said: “Undoubtedly, mortgage lenders will only look to instruct CQS-accredited firms. It’s therefore likely that in the future, law firms that fail to meet these standards will fall by the wayside.
“This is just the start of maintaining good standards of conveyancing work in the UK and is good news for all involved in the industry – solicitors firms, mortgage lenders and insurers.”
In the process of buying property, mortgage lenders will only select a law firm to act on their behalf that has been pre-approved to their panel.
If a buyer chooses a conveyancer not listed on the chosen panel, the lender will instruct their own solicitor at the cost of the customer.
Therefore, in future, anyone choosing to use a solicitor which has not achieved the CQS standard may end up paying two sets of legal fees to move house – their own and that of the lender.
Mr Whyte added: “This is set to be a rigorous standard and represents many months of preparation and fine-tuning our processes, so we’re proud to be one of the first in our region to be accredited.
“We believe it will encourage a culture of collaboration amongst professionals working in the industry to ensure buying and selling property can take place as quickly and cost-effectively as possible.”
Currently, 1000 firms nation-wide have applied for CQS status. It is open only to members of the Law Society and to those who meet the demanding standards the scheme will set and has the support of the Council of Mortgage Lenders, the Building Societies Association, and the Association of British Insurers.
For further information contact Alistair Whyte 01872 246200 or email email@example.com