Secure Trust Bank Conveyancing Panel Compliance Audit

You can hope that you are adhering to the conveyancing panel Handbook requirements of Secure Trust Bank or you can be sure by having a compliance audit.

Secure Trust Bank is undoubtedly one of the firm’s most important clients for conveyancing work.

Can you be sure that you are complying with the requirements as a practice on the Secure Trust Bank conveyancing panel?

It’s not a bad idea to bring in your own external auditors who may conduct your CQS audits but Lexsure stand alone in being able to carry out a comprehensive lender panel compliance audit for your conveyancing files where Secure Trust Bank are the the mortgagor.

Lexsure’s full database of Secure Trust Bank Handbook instructions gives us the ability to examine a law firms’ conveyancing cases whilst on the Secure Trust Bank conveyancing panel retrospectively and in much the same way as Secure Trust Bank would.

Lexsure’s panel of experienced assessors independently assess making use of propriety templates and Lender Handbook archives whether each conveyancing matter breached the requirements at the time the Certificate of Title was completed.

In the absence of your search company offering the service as part of your account management the fee for a Secure Trust Bank compliance panel audit is £1,975+VAT. We tend to examine 6 transaction files involving Secure Trust Bank, which we can randomly select by tenure (e.g. leasehold) year of completion or a multitude characteristics.

Once the fieldwork is completed, Lexsure will issue a detailed compliance profile for your cases with Secure Trust Bank and a baseline risk profile. We will also meet with you to explain our auditor’s findings and recommendations in a formal interview. Further audits will occur. Lexsure will contact the managing partner to request the status of planned actions. No more than one lender conveyancing panel audits may be requested by a practice a year.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables you to select the date, time and location of a Secure Trust Bank 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 cancel a Secure Trust Bank panel compliance review. Please note that before accepting a Secure Trust Bank conveyancing panel compliance review we have to conduct a conflict check. It is not always possible for Lexsure to conduct a Secure Trust Bank panel compliance file audit

FAQs : Secure Trust Bank Conveyancing File Audits


My firm is on the Secure Trust Bank conveyancing panel and we handle both purchases and remortgage cases. Would your audit cover both case types?

Yes

On what basis do Secure Trust Bank select files for audits?

Lexsure are not privy to the reasons why Secure Trust Bank would select a file from a conveyancing practice presently on or previously on their conveyancing panel

Can you give examples of some of the more common Lender Handbook breaches by conveyancing lawyers on the Secure Trust Bank panel?

Lexsure periodically conduct conveyancing webinars focused on breaches across all lenders. Please feel free to book a place.

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

The Lexsure Lender Compliance Audit is a stand-alone facility available to property law practices on lender panels and is independently charged for.

What is the selection criteria for joining the Secure Trust Bank conveyancing panel?

Please enquire of Secure Trust Bank directly or their panel manager, if any. Lexsure is not connected with Secure Trust Bank in managing their conveyancing panel or selection criteria.