RBS - Direct Line Conveyancing Panel Compliance Audit

The primary reason to carry out a RBS - Direct Line panel Handbook risk file audit is to give you peace of mind that you are complying with the Handbook requirements of RBS - Direct Line. Non-compliance runs the risk of claims on your insurance, loss of conveyancing panel status and a tarnished reputation and even SRA action – damage that far outweighs the cost and any minimal, temporary inconvenience that may be caused by you organising a RBS - Direct Line panel Part 2 compliance review.

RBS - Direct Line is undoubtedly one of the firm’s most valued clients for conveyancing work.

Can you be sure that you are strictly following the requirements as a firm on the RBS - Direct Line conveyancing panel?

As far as we are aware Lexsure is uniquely positioned to conduct a comprehensive lender panel compliance audit for your conveyancing files where RBS - Direct Line are the lender.

Lexsure’s comprehensive database of RBS - Direct Line Handbook instructions enables us to examine a law firms’ conveyancing files whilst on the RBS - Direct Line conveyancing panel retrospectively and in the same vein as RBS - Direct Line would.

Lexsure’s panel of expert auditors independently review using propriety templates and Lender instruction archives whether each transaction was in line with the requirements at the time the Certificate of Title was issued.

For conveyancing firms where their search provider is not offering the service, our costs is £1,975+VAT. Our team tend to examine eight transaction files involving RBS - Direct Line, which we can stratify by tenure (e.g. leasehold) date or a multitude characteristics.

Once the fieldwork is completed, Lexsure will prepare a detailed compliance profile for your transactions with RBS - Direct Line and a baseline risk summary. We can also meet with you to set out our auditor’s findings and guidance in a formal debrief. Audit follow-up will occur. Lexsure will contact the head of conveyancing to request the status of actions taken. No more than one lender conveyancing panel audits may be commissioned by a firm per annum.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to select the date, time and location of a RBS - Direct Line 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 RBS - Direct Line panel compliance file audit. Please note that before accepting a RBS - Direct Line conveyancing panel compliance audit we have to conduct a conflict check. It is sometimes not possible for Lexsure to agree to a RBS - Direct Line panel Handbook risk review

Answers to Frequently asked questions concerning RBS - Direct Line Conveyancing File Audits

If my firm is an existing user of Lexsure services, such as ENQUIRYgenerator does my firm have access to a yearly Lexsure Lender Compliance Audit at no extra cost?

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

Lexsure were mentioned on the conveyancing section of my PI Insurance form this year. Do certain insurers reduce their premium where a firm has a positive lender compliance audit?

We suggest that you get in touch with your insurer or insurance broker.

Does Lexsure outsource their lender compliance audits to an external panel of conveyancing experts?

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

What level of experience do the auditors have who conduct Lexsure Lender Compliance Audits?

Appointed auditors have at least twenty five years conveyancing PQE (pre-dating the CML Lenders’ Handbook, The UK Finance Lenders' Handbook and Building Society Association Mortgage Instructions)

What happens if or when you uncover breaches? Do you inform RBS - Direct Line or their panel managers?

This is a common question. Where a conveyancing file audit is arranged by your firm and Lexsure finds breaches, they are often easily categorised. Lexsure can not undo the breach but we are able to 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 RBS - Direct Line and we will ensure the results of your audit are completely confidential.