Monmouthshire Building Society Conveyancing Panel Compliance Audit

Can you afford to be expelled from the Monmouthshire Building Society panel? Put your mind at rest by checking that you are complying with the Handbook for Monmouthshire Building Society.

Monmouthshire Building Society is most likely one of your most valued clients for conveyancing work.

How certain are you that you are adhering to the requirements as a practice on the Monmouthshire Building Society conveyancing panel?

It’s not a bad idea to bring in your own external auditors who may conduct your CQS audits but Lexsure is uniquely positioned to conduct a full lender panel compliance audit for your conveyancing files where Monmouthshire Building Society are the lender.

Our full bank of Monmouthshire Building Society Handbook instructions enables us to examine a law firms’ conveyancing cases whilst on the Monmouthshire Building Society conveyancing panel retrospectively and in the same vein as Monmouthshire Building Society would.

Lexsure’s panel of expert auditors independently check making use of propriety templates and Lender P2 archives whether each conveyancing matter breached your contractual obligations at the time the Certificate of Title was completed.

For conveyancing firms where their search provider is not offering the service, our fee for a Monmouthshire Building Society compliance panel audit is £1,975+VAT. We tend to examine eight case files involving Monmouthshire Building Society, which we can randomly select by tenure (e.g. leasehold) year of completion or a mix characteristics.

Once the audit is completed, Lexsure will compile a detailed compliance profile for your cases with Monmouthshire Building Society and a baseline risk score. We can also arrange a conference call with you to set out our expert findings and recommendations in a formal debrief. Subsequent audits can be scheduled. Our office will contact the COLP to request the status of planned actions. No more than one lender conveyancing panel audits may be commissioned by a firm a year.

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

Top questions concerning Monmouthshire Building Society conveyancing file audits

If my firm is an existing user of Lexsure services, such as COMPLETIONmonitor does this include access to an annual Lexsure Lender Compliance Audit at no extra cost?

The Lexsure Lender Compliance Audit is a distinct facility available to conveyancing firms on lender panels and is independently invoiced.

I was advised last week that if I commission an audit through certain search providers that I can have the lender compliance conveyancing audit for free. Is that true?

As of today we we have not heard of any such offer but please contact your search provider directly and ask them to call us. Once in a while discount voucher codes are available via certain search providers on a specific panel.

On what basis do Monmouthshire Building Society select files for audits?

We are not privy to the reasons why Monmouthshire Building Society would select a file from a conveyancing practice currently on or previously on their conveyancing panel

Does Lexsure subcontract their P2 Handbook compliance audits to a third party panel of conveyancing specialists?

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

Are you able to provide examples of some of the more common Lender Handbook breaches by conveyancing lawyers on the Monmouthshire Building Society panel?

Lexsure often host conveyancing webinars on common breaches across all lenders. Please contact your search company to make a reservation.