CQS (CPMS) Mortgage and Property Fraud Prevention Policy

The recent update to the CQS Core Practice Management Standards (CPMS) requires CQS firms to have a policy in place in relation to mortgage and property fraud prevention (s5.13).

Policy documents can be time-consuming and difficult to prepare without a Policy Template as a starting point.

The Mortgage and Property Fraud Prevention Policy Template includes reference to:

• Identity of the client and client's circumstances
• Linked transactions
• Variations in price, incentives and other material considerations
• Safeguarding the firm’s client account and other people's bank account details

...as well as other formalities and general obligations as required under 5.13 of the CPMS.

CONTENTS
Document Properties
Change Control
Associated Policies
Contents
1. Identity of the client and client's circumstances
1. Linked transactions
2. Identity of the other lawyers
3. Proceeds of sale
3.1 General Considerations
3.2 Proceeds being sent to non-client
4. Variations in price, incentives and other material considerations
5. Valuations
6. Mortgage fraud schemes
7. Types of property fraud
8. Safeguarding the firm’s client account and other people's bank account details
9. Buyer-funded developments
10. Unencumbered Property
11. General
12. Warning Signs
APPENDIX 1