Over the last two years 89% of the top independent solicitor and Licensed Conveyancer firms, identified by the Land Registry, have chosen to use searches from personal search providers rather than those supplied by Local Authorities.
The data was gathered from a survey of Council of Property Search Organisations (CoPSO) search code subscriber members. CoPSO members produce over 80% (by volume) of all private sector searches produced in the market.
The survey asked subscribers to confidentially confirm the names of those customers who routinely order Regulated Personal Searches.
The Search Code was first introduced by CoPSO in 2006 and provides protection for all those who rely on the information included in property search reports undertaken by subscribers.
The Code’s requirements ensure that all organisations subscribing to the Code deliver a consistently high standard of product and service — offering peace of mind against fraud and negligence, and the reassurance that the information within the report is from a trusted and regulated source.
James Sherwood-Rogers, Chairman of CoPSO said: “We have been aware in recent years that the uptake of Regulated Personal Searches has been growing rapidly among major conveyancing firms.
“We took the decision to survey our members to enable us to gather an accurate picture of just how many are now actively commissioning them on a regular basis.
“We believe the use of Regulated Personal Searches is now incredibly high amongst the largest conveyancers and with the Search Code becoming an increasingly well recognised and established mark of quality across the industry, we expect this to extend to more traditional high street conveyancing firms.”
Is this your experience? Do you now opt for an increasing amount of Regulated Personal searches? And if so why? What do you think the future will hold for conveyancing searches?