Minimising Risk In Post-Completion
Post-completion has been highlighted recently following the publishing of the CLC’s 2024 Risk Agenda. The agenda stated:
‘The CLC has noted an increase in post-completion work not being done properly (or at all) and promptly. This is becoming a growing concern for the CLC as these failures are sometimes only identified years later, causing significant risk, stress and delays to consumers and other interested parties.’
In addition to the CLC’s concerns, HM Land Registry (HMLR) have produced data to show that last year approximately 947,000 applications were requisitioned, with on average each requisition containing two points, but some with many more. The data also shows rectifying these requisitions costs the profession millions of pounds each year.
The implications of not completing post-completion work adequately, effectively or at all are vast. Claims for compensation could be made by consumers, repeat business lost, removal from lender panels, complaints and reputational damage to name a few.
Post-Completion Training For Support Staff
IQ Legal Training and Property Conveyancing Consultancy (PCC) have recently partnered to supply a series of 3 webinars focusing on key post-completion topics with a focus on how to avoid unnecessary requisitions raised by HM Land Registry.
HM Land Registry Practice Guides And Souvenir Land
HM Land Registry Practice Guides And Souvenir Land
HM Land Registry Practice Guides And The Devolution on the Death of a Registered Proprietor
HM Land Registry Practice Guides And The Devolution on the Death of A Registered Proprietor
Post Completion Explained
Post Completion Explained – Submitting an accurate application to update the Land Register and dealing promptly with any requisitions (queries from the Land Registry) that follow are vital to ensuring that your client’s interest in the property is protected and that any charge for a Lender is correctly registered.