Formal recognition of the Search Code continues to expand
27 January 2020
Fleet Mortgages recognises the Search Code
The Council of Property Search Organisations (CoPSO) has warmly welcomed Fleet Mortgages formal recognition of the Search Code in its Part 2 of the UK Finance Lenders Handbook. Fleet joins all major mortgage lenders in accepting personal searches that have been produced by Search Code subscribers. Out of 124 lenders listed on the UK Finance website only 12 smaller lenders have yet to formally recognise the Search Code, and of those there is partial recognition of the Code by 5 lenders.
James Sherwood Rogers, Chairman of CoPSO said ‘we are delighted that Fleet Mortgages has formally recognised the Search Code and joined all other major lenders in doing so. The Search Code is the long-established mark of quality for searches produced in the private sector covering a wide range of products that include personals searches, environmental reports, drainage and water searches and mining searches amongst others. The Code is recognised in the Law Society’s Conveyancing Handbook and is relied upon by conveyancing lawyers across the country to protect their clients in the home buying process.’
CoPSO members, all of whom subscribe to the Search Code, produce over 2 million searches each year constituting over 80% by volume of all searches produced in the market.