Hinckley and Rugby Conveyancing Panel Compliance Audit

You can wait for Hinckley and Rugby to make a file request or you can ask Lexsure to do a Hinckley and Rugby panel compliance conveyancing audit.

Hinckley and Rugby is one of the firm’s most important clients for conveyancing work.

Can you be sure that you are adhering to the requirements as a firm on the Hinckley and Rugby 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 Hinckley and Rugby are the lending client.

Our full database of Hinckley and Rugby Handbook instructions gives us the ability to audit a law firms’ conveyancing files whilst on the Hinckley and Rugby conveyancing panel retrospectively and in much the same way as Hinckley and Rugby would.

Lexsure’s panel of experienced assessors objectively check using propriety templates and Lender obligation archives whether each transaction was in line with the requirements when the CoT was issued.

For conveyancing firms where their search provider is not offering the service, our costs is £1,975+VAT. Lexsure tend to audit eight transaction files involving Hinckley and Rugby, which we can stratify by tenure (e.g. leasehold) date or other variables.

At the end of the audit, Lexsure will prepare a full written findings for your transactions with Hinckley and Rugby and a baseline risk summary. We will also meet with you to go through our auditor’s findings and recommendations in a formal debrief. Audit follow-up can be scheduled. Our office will contact the managing partner to request the status of planned actions. 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 you to select the date, time and location of a Hinckley and Rugby 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 Hinckley and Rugby panel compliance review. Please note that before accepting a Hinckley and Rugby conveyancing panel compliance audit we have to conduct a conflict check. It is not always possible for Lexsure to carry out a Hinckley and Rugby panel compliance review

Hinckley and Rugby Conveyancing File Audits : You have questions, we have answers

I rarely receive a copy valuation from a lender these days. Do my Hinckley and Rugby conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Hinckley and Rugby as the lender?

Every conveyancing lawyer must check the Handbook requirements for Hinckley and Rugby as far as this is concerned.

Does Lexsure subcontract their lender compliance audits to an external panel of conveyancing specialists?

No. We do not subcontractlender compliance audits to an external panel of conveyancing experts. Audits are completed by our in-house team.

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 Hinckley and Rugby) 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.

What happens if or when you uncover breaches? Do you inform Hinckley and Rugby or their panel managers?

This is a common question. Where a conveyancing file audit is commissioned by your firm and Lexsure finds problems, they are often easily categorised. We can not undo the breach but we can help you adjust problematic parts of your risk prevention protocols and checklists. And 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 Hinckley and Rugby and we will ensure the results of your audit are completely confidential.

Who do I reach out to if I have questions not covered in this section concerning an audit of our conveyancing files where Hinckley and Rugby is the lender?

Please fill out the contact form here. We will respond. Please note that the form is not specific to Hinckley and Rugby conveyancing panel firms so do mention Hinckley and Rugby in the notes section.