CoPSO appoints first independent chairman
18 June 2012
The Council of Property Search Organisations (CoPSO) has appointed James Sherwood-Rogers as Executive Chairman. He will take up the newly created post with immediate effect and will be working closely with the CoPSO board members to drive forward its agenda for 2012.
Sherwood-Rogers previously held the position of Non-Executive Chairman but in order to support COPSO’s ambitious plans for the year ahead, the appointment of an independent, Executive Chairman was deemed necessary.
The new role, which replaces the voluntary Chairman post, will ensure that the trade association is guaranteed dedicated hours from an experienced Chairman. This time will be invested in helping to raise the profile of CoPSO and its role within the industry, as well as further promoting the benefits of the Search Code to both the lending and conveyancing communities.
James Sherwood-Rogers said: “CoPSO has an essential role to play in delivering effective conveyancing, by setting standards for all due diligence searches, which are at the heart of any home buying decision. COPSO has already done an excellent job in raising standards across the industry, and has recently invested heavily in additional resources to ensure subscribers to the Code are meeting the higher standards required.
“A growing number of lenders already require that their conveyancers only commission due diligence search reports from Search Code subscribers. However, there are still a number of those that have yet to realise the risks of not doing so – something that needs to change in order to properly protect consumers, lenders and, of course, solicitors. We are looking forward to working with all parts of the industry to minimise risks in conveyancing for all involved.”
Mike Ockenden, Chief Executive of CoPSO, commented: “We are very pleased to have Sherwood-Rogers on board as Executive Chairman. James brings with him a unique wealth of experience and expertise in conveyancing searches and the wider property market.”
CoPSO was founded in 2003 by six leading companies in the search industry. It was set up to provide a professional voice for companies producing property search reports, while driving forward quality standards within the sector. Today, CoPSO members produce 80% (by volume) of all searches produced in the market.
The Search Code is owned and maintained by CoPSO and has been designed to provide protection for homebuyers, sellers, estate agents, conveyancers and mortgage lenders, who rely on the information included in property search reports. The Code, which is enforced by the Property Codes Compliance Board (PCCB), sets out minimum standards, which organisations compiling and selling search reports have to meet. All subscribers to the Code are listed on a register of subscribing firms, maintained by the PCCB and all display the trusted Search Code logo prominently on all search reports they produce.
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Notes to Editors
About The Council of Property Search Organisations (CoPSO)
The Council of Property Search Organisations (CoPSO) is the major trade association for the property search industry. Members provide a broad range of property search reports including local, environmental, mining, chancel repair, drainage and water data and undertake over 2 million searches each year. The membership includes water companies, environmental search providers and organisations offering local searches. Today, CoPSO members produce 80% (by volume) of all searches produced in the market.
About the Property Codes Compliance Board (PCCB)
Formed in 2006, the Property Codes Compliance Board (PCCB) is an independent compliance body. Its primary role is to maintain a register of firms that choose to subscribe to the Search Code of Practice and to independently monitor their compliance with the Code. Subscription to the Code is not mandatory but the vast majority of search products in the market are produced by Code subscribers. PCCB is a not for profit organisation with a public interest majority on its Board and is funded entirely from the subscription fees paid by registered firms.
The Search Code
The Search Code provides protection for homebuyers, sellers, estate agents, conveyancers and mortgage lenders who rely on the information included in property search reports undertaken by subscribers. The Code sets out minimum standards which organisations compiling and selling search reports have to meet. Organisations providing property search reports can subscribe to the Search Code as either a retailer or a compiler. The Property Codes Compliance Board maintains a register of all subscribing firms. You can check whether a search firm subscribes to the Code by searching the Register or by looking for the Search Code logo on their products. www.copso.org.uk/searchcode
For further information or to set up an interview contact Claire Laycock - tel: 07788 865066, email: claire.laycock@hendrypr.co.uk