If you value Lloyds as a conveyancing client then carry out a Lloyds panel compliance audit.
Lloyds is in all probability one of your most valued clients for conveyancing work.
How certain are you that you are complying with the requirements as a firm on the Lloyds conveyancing panel?
It’s not a bad idea to bring in your own external auditors who may conduct your CQS audits but Lexsure stand alone in being able to carry out a full lender panel compliance audit for your conveyancing files where Lloyds are the lender.
Lexsure’s full database of Lloyds Handbook instructions gives us the ability to audit a law firms’ conveyancing cases whilst on the Lloyds conveyancing panel retrospectively and in the same vein as Lloyds would.
Our panel of experienced assessors objectively review utilising propriety templates and Lender obligation archives whether each conveyancing matter complied with the requirements at the time the CoT was issued.
Our standard fee for a Lloyds compliance panel audit is £1,975+VAT. Our team will analyse 6 transaction files involving Lloyds, which we can randomly select by tenure (e.g. leasehold) year of completion or a multitude characteristics.
At the end of the audit, Lexsure will prepare a detailed findings for your cases with Lloyds and a baseline risk profile. We can also follow-up with you to explain our auditor’s findings and guidance in a formal debrief. Audit follow-up will occur. Lexsure will contact the head of conveyancing to request the status of planned actions. A maximum of one lender conveyancing panel audits may be requested by a practice in a twelve month period.
Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to select the date, time and location of a Lloyds 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 rebook a Lloyds panel compliance audit. Please note that before accepting a Lloyds conveyancing panel compliance review we have to conduct a conflict check. It is not always possible for Lexsure to carry out a Lloyds panel compliance file audit
Lloyds Conveyancing File Audits : How can we help you?
Lexsure were referenced on the conveyancing section of my PI Insurance form this year. Do certain insurers offer discounts where a firm conducts a lender compliance audit?
We suggest that you get in touch with your insurer or insurance broker.
On what basis do Lloyds select files for audits?
Lexsure are not privy to the basis Lloyds would select a file from a conveyancing practice presently on or historically on their conveyancing panel
In light of recent events can Lexsure do a Lender Compliance Audits remotely as our conveyancing lawyers are not in the office?
Yes, subject to certain requirements which we will send you by way of email.
Who do I reach out to if I have questions not covered in this section concerning an audit of our conveyancing files where Lloyds is the lender?
Please fill out the contact form here. We will respond. Please note that the form is not specific to Lloyds conveyancing panel firms so do mention Lloyds in the notes section.
When can I expect my written report to run through with my fellow directors following an audit of our firm's Lloyds panel conveyancing files?
We aim to have a written report within two weeks of the audit taking place.