The role of a conveyancer

House buying can seem a complicated process. With the huge number of changes that have been implemented since the market became regulated, as a mortgage advisor, what you need to know and how you need to act in order to remain compliant continues to expand.

It is important to remember how the customer feels during the process – the excitement about owning their dream property, anxiousness while they await lender approval, as well as understanding how the house buying process works, and what additional work is carried out by others such as surveyors and conveyancers to complete the mortgage transaction.

The conveyancer is a key figure within the process, and part of your role as a mortgage advisor is to advise the necessary conveyancing options.

The primary role of a mortgage conveyancer is to facilitate the legal transfer of home ownership from the person selling to the person buying. Generally, a conveyancer (independent to each party) begins work and is instructed once the seller has accepted an offer on their property and the buyer has instigated a mortgage application, where appropriate.

Why do some lenders specify which conveyancers can be used?

For people seeking to facilitate the house-buying transaction by obtaining a mortgage, they will generally find that their lender will have a list of ‘approved’ conveyancers for them to choose from. These professionals will have met a strict list of requirements, meaning that the lenders place trust in their ability to carry out the necessary work legally, efficiently and effectively.

They will more than likely be members of the Conveyancing Quality Scheme (CQS) and industry initiative recognised for delivering good practice. Implemented by the Law Society, a firm is assessed against criteria such as:

• How they adhere to set standards of good practice management
• The integrity of key staff members
• Adherence to strict and effective conveyancing processes and procedures

If a company has been approved by the scheme, it indicates a high standard of competency that makes it more trustworthy.

What is the Conveyancing Association?

This group represents UK conveyancing operations in a non-profit-making capacity. Its members conduct well over two thirds of the UK’s mortgage conveyancing, present in around one in seven property transactions. They are made up of nine out of ten of the country’s top conveyancing firms, and a third of those in the top 100.

When looking to choose a career in mortgage advice, you will need to undertake the relevant recognised training, such as CeMAP, and obtain the necessary pass certification. As part of your studies, you will look at mortgage law and conveyancing, what it involves, the implications of it being carried out competently and effectively, and the impact it can have for the lender and the borrower if processes are not followed and things are not carried out correctly.

It will form a vital part of your interview, because by understanding the process fully yourself, you will be able to ensure that your customers completely understand the house-buying process from when they put in an offer to moving into their dream home.



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