Cambridge Building Society Conveyancing Panel Compliance Audit

Check if your firm has a scheduled Lexsure Cambridge Building Society Handbook Compliance Audit
Book a Lexsure Cambridge Building Society Lender Handbook Compliance Audit

You no doubt expect your lawyers to be complying with the conveyancing panel Handbook requirements of Cambridge Building Society or you can be sure by having a compliance audit.

Cambridge Building Society is like many lenders, one of your most valued clients for conveyancing work.

Can you be sure that you are complying with the instructions as a firm on the Cambridge Building Society conveyancing panel?

It’s not a bad idea to bring in your own external auditors who may conduct your CQS audits but Lexsure is the only company offering a comprehensive lender panel compliance audit for your conveyancing files where Cambridge Building Society are the lending client.

Our full directory of Cambridge Building Society Handbook instructions gives us the ability to audit a law firms’ conveyancing files whilst on the Cambridge Building Society conveyancing panel retrospectively and in the similar manner Cambridge Building Society would.

Our panel of expert auditors independently check using propriety templates and Lender instruction archives whether each transaction breached the requirements at the time the CoT was rendered.

Our standard fee for a Cambridge Building Society compliance panel audit is £1,975+VAT. We tend to examine 6 transaction files involving Cambridge Building Society, which we can stratify by tenure (e.g. leasehold) year of completion or a multitude variables.

Once finished, we will issue a detailed findings for your cases with Cambridge Building Society and a baseline risk score. We can also meet with you to set out our auditor’s findings and guidance in a formal debrief. Subsequent audits will occur. Our office will contact the head of conveyancing to request the status of actions taken. No more than one lender conveyancing panel audits may be requested by a practice in a calendar year.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables you to select the date, time and location of a Cambridge Building Society 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 Cambridge Building Society panel compliance file audit. Please note that before accepting a Cambridge Building Society conveyancing panel compliance audit we have to conduct a conflict check. It may not be possible for Lexsure to carry out a Cambridge Building Society panel compliance file audit

Top questions concerning Cambridge Building Society conveyancing file audits

Why would my firm consider a Cambridge Building Society handbook compliance audit?

Lexsure often talk with Cambridge Building Society conveyancing panel companies who express confidence that they have robust risk protocols. Yet Lexsure sees common breaches of the lender Handbook instructions. In fact, we have yet to complete a single audit that didn’t reveal any 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 Cambridge Building Society or any lender leaves you open to costly and damaging claims if the lender suffers a loss and even disciplinary action by your regulator. Lexsure’s lender compliance audits are an efficient way to ensure there aren’t costly skeletons in your conveyancing cupboard.

I was advised last week that if I book an audit via certain search providers that I can have the lender compliance conveyancing audit for free. Is that right?

As of today we are not aware of any such offer but please contact your search provider directly and ask them to call us. Once in a while discount voucher codes are available via certain search providers on a specific panel.

I was recently recommended by a local firm who had requested an audit for their Cambridge Building Society conveyancing files but I was told by Lexsure that this was not possible for my firm due to a conflict of interest. Why would this be the case?

For further information see here.

Lexsure were referenced on the conveyancing section of my PI Insurance form this year. Do certain insurers offer discounts where a firm has a positive lender compliance audit?

Please contact your insurer or insurance broker.

My practice is on the Cambridge Building Society conveyancing panel and we handle both purchases and remortgage cases. Would your audit cover both case types?

Yes