Insights from its results will help improve mortgage and conveyancing process
The Conveyancing Association (CA) has announced the launch of its 2022 Lender Survey, aiming to identify where the industry can collaborate to improve the mortgage and conveyancing process.
Each year, the CA 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, among others.
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asks conveyancers to provide information on raising post-offer queries, receiving amended offers or those which were withdrawn, and the nature of this activity, so the CA can identify how much time the upfront material information could save its members and lenders.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 CA 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.
“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, and, again, we want to ensure as many members as possible join us to take part in this,” Beth Rudolf, director of delivery at the Conveyancing Association, said.
The survey is open until the June 20, and the CA is urging all its member firms, and the entire conveyancing industry, to complete the questions to provide full results on what is happening at the ‘coal face’ of the sector.
“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. 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,” Rudolf added.
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 July 06.
Previous iterations of the survey enabled the CA 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.
All those who respond to the survey will be entered into a prize draw at the CA member event taking place on July 06, with the winner receiving a £200 voucher.
