Cambridge Building Society Conveyancing Panel 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 commissioning a compliance audit.

Cambridge Building Society is amongst other lenders, one of your most important clients for conveyancing work.

How certain are you that you are strictly following the requirements as a practice on the Cambridge Building Society conveyancing panel?

You can ask one of your team to carry out an audit but Lexsure is uniquely positioned to conduct a full lender panel compliance audit for your conveyancing files where Cambridge Building Society are the the mortgagor.

Lexsure’s comprehensive database of Cambridge Building Society Handbook instructions enables us to analyse a law firms’ conveyancing cases whilst on the Cambridge Building Society conveyancing panel retrospectively and in the same vein as Cambridge Building Society would.

Our panel of expert assessors objectively check making use of propriety templates and Lender P2 archives whether each conveyancing matter breached your contractual obligations at the time the Certificate of Title was signed off.

In the absence of your search company offering the service as part of your account management the costs is £1,975+VAT. Our team will audit eight transaction files involving Cambridge Building Society, which we can stratify by tenure (e.g. leasehold) date or a multitude characteristics.

At the end of the audit, Lexsure will compile a detailed findings for your transactions with Cambridge Building Society and a baseline risk summary. We will also meet with you to explain our auditor’s findings and recommendations in a formal debrief. Further audits can be scheduled. Lexsure will contact the head of conveyancing to request the status of actions taken. No more than two lender conveyancing panel audits may be commissioned by a firm 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 rearrange 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 conduct a Cambridge Building Society panel Part 2 compliance review

Cambridge Building Society Conveyancing File Audits : How can we help you?


Whilst I do not require the services of Lexsure for an Cambridge Building Society Handbook Compliance Audit, I would like access to P2 requirements for Cambridge Building Society for a specific date. Is this something you are able to assist with?

Subject to the date of the P2’s, we may be able to assist. Please contact us directly asking to speak to someone in the Lexsure Litigation Support Team.

My firm is on the Cambridge Building Society conveyancing panel and I am considering using your services for conveyancing file audits. Is Lexsure a member of The Institute of Internal Auditors?

No

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

Lexsure frequently talk with Cambridge Building Society conveyancing panel companies who express confidence that they have comprehensive risk protocols. Yet Lexsure sees common breaches of the lender Handbook requirements. In fact, we have yet to complete an 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 regulatory action by the SRA. Lexsure’s lender compliance audits are an efficient way to ensure all is in order.

Is there an option for the audit to cover commercial conveyancing files with lender compliance issues?

No. The lender compliance audit does not extend beyond residential conveyancing.

What happens if or when you uncover breaches? Do you inform Cambridge Building Society or their panel managers?

This is frequently asked. Where a conveyancing file audit is arranged by your firm and Lexsure uncovers problems, they are often easily categorised. We can not undo what has been done but we are able to suggest adjustments to the problematic parts of your risk prevention protocols and checklists. In addition we can advise on tools to help avoid recurrences with the aim of protecting your panel status.

Where commissioned by your firm Lexsure has no duty to report breaches to Cambridge Building Society and we will ensure the results of your audit are completely confidential.