Lloyds Conveyancing Panel Compliance Audit

You no doubt expect your lawyers to be adhering to the conveyancing panel Handbook requirements of Lloyds or you can be sure by having a compliance audit.

Lloyds is possibly one of your most valued clients for conveyancing work.

Can you be sure that you are adhering to the instructions as a practice on the Lloyds conveyancing panel?

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 complete database of Lloyds Handbook instructions enables us to audit a law firms’ conveyancing files whilst on the Lloyds conveyancing panel retrospectively and in much the same way as Lloyds would.

Our panel of expert auditors objectively check using propriety templates and Lender obligation archives whether each conveyancing matter breached your contractual obligations when the CoT was signed off.

For conveyancing firms where their search provider is not offering the service, our fee for a Lloyds compliance panel audit is £1,975+VAT. Lexsure will analyse nine case files involving Lloyds, which we can stratify by tenure (e.g. leasehold) date or other variables.

Once the audit is completed, we will present you with a full written compliance profile for your transactions with Lloyds and a baseline risk summary. We will also arrange a conference call with you to explain our auditor’s findings and recommendations in a formal interview. Subsequent audits will occur. Our office will contact the appropriate personnel to request the status of planned actions. A maximum of one lender conveyancing panel audits may be requested by a practice a year.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to choose 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 cancel a Lloyds panel compliance file audit. Please note that before accepting a Lloyds conveyancing panel compliance audit we have to conduct a conflict check. It may not be possible for Lexsure to agree to a Lloyds panel compliance file audit

FAQs : Lloyds Conveyancing File Audits

Whilst I do not require the services of Lexsure for an Lloyds UK Finance Mortgage Handbook Audit, I would like access to P2 requirements for Lloyds for a specific date. Is this something you can help with?

Depending on the date, we may be able to assist. Please contact us directly asking to speak to someone in the Lexsure Litigation Support Team.

What is the selection criteria for joining the Lloyds conveyancing panel?

Please enquire of Lloyds directly or their panel manager, if any. Lexsure is not connected with Lloyds in managing their conveyancing panel or selection criteria.

Are lender Handbook audits common?

It is on the increase. Even with repossessions at a low rate lenders are on the move with conveyancing file inspections are already on the increase. Lenders (although not specifically Lloyds) and PI insurers complain that non-compliance is still all too frequent, even in reputable conveyancing firms. With pressure on interest rates and an uncertain financial climate, we recommend ensuring your compliance before repossessions rise and even more file audits are commissioned by lenders and insurers.

Can I contact you if I require further information not covered in this section concerning an audit of our conveyancing files where Lloyds is the lender?

Please complete the contact form here. We will be in touch. Please note that the form is not specific to Lloyds conveyancing panel firms so do mention Lloyds in the notes section.

I spoke with a neighbouring practice who had requested an audit for their Lloyds 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.