Following negotiations between the Law Society and Santander some law firms will be able to continue acting on behalf of Santander while their conveyancing quality scheme (CQS) applications are awaiting a decision.
Since Santander's decision last year to require all solicitor panel firms in England and Wales to be CQS accredited, the Law Society and Santander have been working together to monitor progress and review the upcoming deadlines.
The arrangement with Santander means that some firms will be able to continue to receive instructions even though they do not have final confirmation of their CQS accreditation in time for the 31 March deadline.
Law Society chief executive Desmond Hudson said this agreement proves the worth of proactive dialogue with lenders and will help to further cement the CQS brand in the conveyancing community.
'We all know that the CQS application process is incredibly robust and we will not compromise on these high standards. We also know how important being on a lender panel is for firms' livelihood.
'This agreement with Santander is a very positive development which will hopefully see more firms continue their relationship with Santander and its business.'
Santander Financial Crime manager, Tracey Carr said introducing an element of flexibility was the right move for the bank and demonstrated responding to the needs of firms and their clients to maintain their existing work flow and client relationships.
'We benefit from an open dialogue with the Law Society and together agreed that for both commercial and practical reasons, it was important to recognise the efforts of firms who have applied for their accreditation in a timely fashion and are just waiting for a decision.'
Santander will communicate to firms next week whether they can accept new instructions on behalf of Santander.
Since CQS was launched by the Law Society in 2011 it has quickly gained traction as the quality mark for the home-buying process.
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Notes to editors
The Law Society of England and Wales is the independent professional body, established for solicitors in 1825, that works globally to support and represent its members, promoting the highest professional standards and the rule of law.
Any firm which submitted a fully completed application well in advance of the deadline, which is progressing smoothly, will remain on the Santander panel and can continue to take new instructions. (Any firm whose application is ultimately rejected will be removed from the panel).
Any firm which submits an application close to the deadline will be given 'pending removal' status. This means for the duration of the application assessment, the firm cannot take any new instructions but can continue pipeline cases (where instructions were received before 31 March 2013). If the firm is successfully awarded CQS accreditation, the firm will become a full member of the Santander panel and can take new instructions. There will be no panel application fee in this instance.
Any firm that does not apply for CQS accreditation by 31 March 2013 will be removed from the Santander panel. Should a firm wish to re-join the panel, the firm will need to apply for CQS accreditation and, if successful, then make an application to the Santander panel. In this instance, an application fee must be paid.
Contact: Press officer, Clare Wills, the Law Society
+44 (0)20 7316 5624