Your firm can wait for Hampden to commission a file audit or you can ask Lexsure to do a Hampden panel compliance conveyancing audit.
Hampden is one of your most important clients for conveyancing work.
How certain are you that you are adhering to the instructions as a firm on the Hampden 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 Hampden are the lending client.
Lexsure’s comprehensive directory of Hampden Handbook instructions gives us the ability to audit a law firms’ conveyancing files whilst on the Hampden conveyancing panel retrospectively and in much the same way as Hampden would.
Lexsure’s panel of expert auditors impartially review using propriety templates and Lender Handbook archives whether each transaction breached your contractual obligations at the point that the CoT was completed.
Our standard costs is £1,975+VAT. We tend to review nine case files involving Hampden, which we can randomly select by tenure (e.g. leasehold) year of completion or other characteristics.
Once the audit is completed, we will issue a full written compliance profile for your cases with Hampden and a baseline risk profile. We can also meet with you to go through our auditor’s findings and guidance in a formal interview. Subsequent audits will occur. Our office will contact the head of department to request the status of actions taken. A maximum of two lender conveyancing panel audits may be commissioned 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 Hampden 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 Hampden panel compliance review. Please note that before accepting a Hampden conveyancing panel compliance review we have to conduct a conflict check. It is sometimes not possible for Lexsure to carry out a Hampden panel Handbook risk audit
Answers to Frequently asked questions concerning Hampden Conveyancing File Audits
I rarely receive a copy valuation from a lender anymore. Do my Hampden conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Hampden as the lender?
You will need to check the Handbook requirements for Hampden in this regard.
I was recently recommended by a local firm who had requested an audit for their Hampden conveyancing files but I was told by Lexsure that you are conflicted and have to refuse to audit my firm. Why would this be the case?
For further details click here.
My practice is on the Hampden conveyancing panel and we deal with both purchases and remortgage cases. Would your audit cover both types of translation types?
Yes
How long will I need to wait before I receive my written report to discuss with my fellow directors following an audit of our firm's Hampden panel conveyancing files?
The intention is to issue a written report within ten working days of an audit.
Do your audits cover commercial conveyancing matters with lender compliance issues?
No. The lender compliance audit only covers residential conveyancing.