Birmingham Midshires Conveyancing Panel Compliance Audit

Your firm can wait for Birmingham Midshires to commission a file audit or you can ask Lexsure to do a Birmingham Midshires panel compliance conveyancing audit.

Birmingham Midshires is in all probability one of the firm’s most valued clients for conveyancing work.

How certain are you that you are adhering to the requirements as a firm on the Birmingham Midshires conveyancing panel?

As far as we are aware Lexsure is uniquely positioned to conduct a full lender panel compliance audit for your conveyancing files where Birmingham Midshires are the the mortgagor.

Lexsure’s comprehensive directory of Birmingham Midshires Handbook instructions enables us to examine a law firms’ conveyancing files whilst on the Birmingham Midshires conveyancing panel retrospectively and in much the same way as Birmingham Midshires would.

Lexsure’s panel of experienced auditors independently check utilising propriety templates and Lender obligation archives whether each transaction was in line with your contractual obligations at the time the Certificate of Title was signed off.

For conveyancing firms where their search provider is not offering the service, our fee for a Birmingham Midshires compliance panel audit is £1,975+VAT. Our team tend to examine eight transaction files involving Birmingham Midshires, which we can randomly select by tenure (e.g. leasehold) year of completion or a multitude characteristics.

Once finished, we will compile a detailed compliance profile for your transactions with Birmingham Midshires and a baseline risk score. We can also follow-up with you to explain our expert findings and recommendations in a formal debrief. Subsequent audits can be scheduled. Lexsure will contact the managing partner to request the status of planned actions. No more than one lender conveyancing panel audits may be commissioned by a firm in a calendar year.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to choose the date, time and location of a Birmingham Midshires conveyancing panel compliance audit. The system is available 24/7, which eliminates most instances where you have to wait for business hours to contact Lexsure to schedule or reschedule a Birmingham Midshires panel compliance audit. Please note that before accepting a Birmingham Midshires conveyancing panel compliance file audit we have to conduct a conflict check. It is not always possible for Lexsure to carry out a Birmingham Midshires panel compliance audit

Common queries about Birmingham Midshires conveyancing file audits

I seldom get sent a copy valuation from a lender these days. Do my Birmingham Midshires conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Birmingham Midshires as the lender?

Every conveyancing lawyer must check the Handbook requirements for Birmingham Midshires in this regard.

Why would my firm consider a Birmingham Midshires handbook compliance audit?

Lexsure occasionally come across Birmingham Midshires conveyancing panel firms who express confidence that they have comprehensive compliance protocols. Yet Lexsure sees common breaches of the lender Handbook instructions. In fact, we rarely complete an audit that didn’t uncover serious breaches. An adverse externally-commissioned audit by a lender could result in an insurance claim or removal from a panel. Failure to comply with handbook requirements for Birmingham Midshires or any lender leaves you open to costly and damaging claims if the lender suffers a loss and even regulatory action by the SRA. Lexsure’s lender compliance audits are an efficient way to ensure all is in order.

Does Lexsure subcontract their P2 Handbook compliance audits to an external panel of conveyancing experts?

No. We do not subcontractlender compliance audits to an external panel of conveyancing experts. Audits are completed by our in-house team.

How experienced are the auditors who conduct Lexsure Lender Compliance Audits?

Appointed auditors have at least twenty five years conveyancing PQE (pre-dating the CML Lenders’ Handbook, The UK Finance Lenders' Handbook and Building Society Association Mortgage Instructions)

Are you able to provide examples of some of the more common Lender Handbook breaches by conveyancing lawyers on the Birmingham Midshires panel?

Lexsure often conduct conveyancing webinars on common breaches across all lenders. Please feel free to book a place.