The Society of Licensed Conveyancers (SLC), the trade body representing the conveyancing profession, has unveiled its lender’s panel proposition. It is called SLC Quality Assured which is already being compared to the Conveyancing Quality Scheme (CQS).
The CQS recognise high standards in conveyancing for solicitors and a similar Scheme for conveyancers would be welcomed. SLC Quality Assured is set to be officially launched into the market next year. Lenders are concerned with management of risk and solicitors and conveyancers will need to be mindful of the lender’s requirements if they are to remain on their panel. In a market where the lenders are tightening security to reduce the risk of fraud, schemes like these will help distinguish between the accredited solicitors and conveyancers and the non accredited.
It appears that all conveyancers registered with Council of Licensed Conveyancers (CLC) automatically qualify to SLC Quality Assured and then go through the certification process if they want to become a panel member.
Also the SLC are requiring the panel members to register every transaction with the SLC system which will be made available to the lenders and the regulators. What are the costs to the individual firms going to be to put this in place? Only time will tell.
Hart Brown is proud to be the first law firm in Surrey to be accredited under the Conveyancing Quality Scheme and has been a member since January 2011.
