SLC launches consultation for its lender panel solution

Following an initial preview of its lender panel proposition - SLC Quality Assured - back in November 2011, the Society of Licensed Conveyancers (SLC) has launched a consultation process.

Licensed conveyancers are invited to provide feedback on the solution currently proposed, so they can help shape the scheme, before it is launched later this year.

The SLC is launching an online survey among the conveyancing community this week, which will be distributed via the Council of Licensed Conveyancers (CLC). The survey will ask licensed conveyancers to submit their views on a number of aspects of the new SLC Quality Assured scheme – from proposed costings to the sharing of information and their desire to be part of the scheme.

Feedback

Feedback obtained from the survey will then be collated and presented back to the profession at a series of four regional meetings, which will be held across the country in March.

At each of these sessions, licensed conveyancers will be given an opportunity to express their views on the findings and to voice any additional concerns, ask questions and make suggestions.

The consultation process, which is due to be complete at the beginning of April, will allow the SLC and the CLC to refine what will become the final version of the lender panel solution, before taking it to lenders in the spring.

Comment

John Clay, chairman of the Society of Licensed Conveyancers, said: “It is essential that we take advantage of all the knowledge and experience that we have in the profession, before launching such a vital scheme with mortgage lenders.

“By completing the survey and attending the regional groups, all of our members and the profession at large will have the opportunity to input into the final solution and to ensure that their voice is heard.

“The recent announcement by the HSBC, in respect of launching a limited panel, is a catalyst for all conveyancers to take seriously the intent of lenders to reduce the risks of fraud through rigorous panel management.

“We believe that SLC Quality Assured will deliver a compelling solution for lenders, which will allow them to work with licensed conveyancers, while enjoying complete peace of mind.”

With mortgage fraud high on the agenda for lenders due to unprecedented losses, many are undertaking new measures to restrict those conveyancers accepted onto their panels. SLC Quality Assured is designed to help the licensed conveyancing community, by ensuring they are part of any restricted panels.

To find out more about the consultation process visit the SLC’s website:  www.conveyancers.org.uk