New CQS Core Practice Management Standards
13 May 2022
The changes to The Law Society’s Conveyancing Quality Scheme (CQS) are now in effect.
The new Core Practice Management Standard (CPMS) sets out new practice plans, policies and procedures that CQS accredited practices must now have in place such as section 6.4: b
Practices must now have a policy for dealing with Lenders which must contain a procedure to ensure that Part 2 of the UK Finance Handbook is checked by a fee earner to ascertain the lender’s standard requirements, as well as those specific to a transaction, and for verifying that all of those requirements have been satisfied, prior to exchange and recording on the file that the check has been carried out.”
The Law Society are also planning on introducing on-site visits each year and increasing the number of desk-based assessments. CQS members shall be expected to have made the necessary changes to the firms’ CQS system to demonstrate compliance with the CPMS.
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