Holmesdale Building Society Conveyancing Panel Compliance Audit

Can your firm afford to be expelled from the Holmesdale Building Society panel? Put your mind at rest by checking that you are acting in accordance with the Handbook for Holmesdale Building Society.

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

Are you 100% sure that you are adhering to the requirements as a practice on the Holmesdale Building Society conveyancing panel?

You may prefer to use your current Lexcel auditors but Lexsure is the only company offering a comprehensive lender panel compliance audit for your conveyancing files where Holmesdale Building Society are the the mortgagor.

Our comprehensive database of Holmesdale Building Society Handbook instructions enables us to review a law firms’ conveyancing files whilst on the Holmesdale Building Society conveyancing panel retrospectively and in the similar manner Holmesdale Building Society would.

Lexsure’s panel of experienced assessors independently review using propriety templates and Lender obligation archives whether each conveyancing matter was in line with the requirements at the time the CoT was rendered.

In the absence of your search company offering the service as part of your account management the costs is £1,975+VAT. Lexsure tend to examine nine transaction files involving Holmesdale Building Society, which we can stratify by tenure (e.g. leasehold) date or a mix characteristics.

Once the audit is completed, Lexsure will present you with a full written findings for your cases with Holmesdale Building Society and a baseline risk score. We will also meet with you to present our auditor’s findings and recommendations in a formal interview. Subsequent audits can be scheduled. Lexsure will contact the appropriate personnel to request the status of actions taken. A maximum of one lender conveyancing panel audits may be commissioned by a firm per annum.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to choose the date, time and location of a Holmesdale 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 Holmesdale Building Society panel compliance review. Please note that before accepting a Holmesdale Building Society conveyancing panel compliance file audit we have to conduct a conflict check. It may not be possible for Lexsure to agree to a Holmesdale Building Society panel Handbook risk file audit

How can we help you? Holmesdale Building Society Conveyancing File Audits FAQs


This firm is on the Holmesdale Building Society conveyancing panel and we deal with both purchases and remortgage cases. Would your audit cover both types of translation types?

Yes

Are lender Handbook audits common?

Increasingly. 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 Holmesdale Building Society) 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.

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

Lexsure occasionally talk with Holmesdale Building Society conveyancing panel companies who express confidence that they have comprehensive compliance protocols. Yet Lexsure sees common breaches of the lender Handbook instructions. In fact, we rarely complete a single 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. Non-compliance with handbook requirements for Holmesdale Building Society or any lender leaves you open to costly and damaging claims if the lender suffers a loss and even disciplinary action by your regulator. Lexsure’s lender compliance audits are an efficient way to ensure all is in order.

I was recently recommended by a local firm who had commissioned an audit for their Holmesdale Building Society 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.

How long will I need to wait before I receive my written report to share with my fellow directors following an audit of our firm's Holmesdale Building Society panel conveyancing files?

The intention is to issue a written report within ten working days of an audit.