The Conveyancing Association has launched its 2022 Lender Survey with a view to identifying where the industry can collaborate to improve the mortgage and conveyancing process.
Each year, the trade body for the conveyancing industry asks conveyancers to complete the survey which includes questions that rate various lenders’ waiting and response times, consistency of reply, clarity of mortgage instruction, follow-up actions, and so forth.
It also asks conveyancers to provide information on raising post-offer queries, receiving amended offers or those which were withdrawn, and the nature of this activity, so the CA can identify how much time the upfront material information could save its members and lenders.
By taking a reading just as the National Trading Standards Estate & Letting Agent Team (NTSELAT) goes live on its Material Information project, the Conveyancing Association hopes future surveys will demonstrate what is working and what could be better.
Respondents are also being asked for their input into the changes they would like to see in the post-mortgage offer process, the ease of use of Lender Portals, and this year, electronic signatures for mortgage deeds and transfers, which is being championed by HM Land Registry.
The survey is open until the 20th June and the Conveyancing Association is urging all its member firms, and the entire conveyancing industry, to complete the questions in order to provide full results on what is happening at the ‘coal face’ of the sector.
The full results of the survey will be collated and discussed with lenders and HM Land Registry at the CA’s Member meetings, taking place in London on the 6th July.
Previous iterations of the survey enabled the Conveyancing Association to work with property industry stakeholders including surveyors, valuers, valuation panels, valuation software providers, RICS and lenders to share working practices and identify how post-offer queries might be reduced; the outcome of which is now being delivered by the HBSG Property Data Trust Framework Group which will support the interoperability of data and the authentication of the provenance of the data.
To access and complete the survey, conveyancing firms should visit: click here.
All those who respond will be entered into a prize draw with the winner receiving a £200 voucher. The draw will take place at CA member event taking place on the 6th July.
Beth Rudolf, director of delivery of The Conveyancing Association, commented: “Each year we run our Lender Survey and we are urging all those who work in the conveyancing sector to complete it, so we have the fullest range of responses possible. Previous work in this area has allowed us to meet with lenders, run workshops, plus engage with other stakeholders on the positive changes required in order to deal specifically with post-offer queries and how best to reduce their number.
“As a result of this, the work being undertaken by the Property Data Trust Framework Group will make a huge improvement for all in the home-moving process.
“This year we will be collating the results in double-quick time in order to have a full and frank roundtable discussion with a number of lender representatives at our 6th July meeting in London, and again we want to ensure as many members as possible join us to take part in this.
“Providing evidence from the ‘coal face’ of conveyancing is absolutely vital and will allow us to continue to collaborate as an industry to improve the mortgage and conveyancing process for all.”
SOURCE: Property Industry Eye | JUNE 8, 2022 | MARC DA SILVA
Estate Agents
Comments