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